摘要
优化地方政府债务资金配置并提高支出效率,是财政政策加力提效的重要内容,也是防风险和全面实施预算绩效管理的题中之义。本文以对30个省级行政区2012-2017年的债务支出效率测度为前提,重点揭示现行分权体制下人大预算监督对债务支出效率的影响机理及作用。本文发现,人大预算监督对债务支出效率存在显著正向影响,进一步以财政缺口为门限变量研究发现,人大预算监督对债务支出效率的提升作用随纵向财政缺口的增大而增强。对被解释变量进行面板分位数模型回归显示,人大预算监督对地方政府债务支出效率的提升作用呈现“倒U”型特征,这意味着人大预算监督对不同债务支出效率水平的影响具有异质性。根据实证发现,本文认为,全面实施债务绩效管理需要加强债务预算监督、提高债务信息透明度以及实施科学的债务限额管理,同时辅之以政府间财政关系的规范化和现代化为基础条件。
Optimizing the allocation of debt funds and improving its efficiency can not only make fiscal policies more powerful and efficient,but also make up the necessary part of risk prevention and the overall implementation of budget performance management.Based on expending efficiency measurement of 30 provincial administrative regions in 2012-2017,this paper reveals the influence and mechanism of the NPC budget supervision on debt expenditure efficiency in current fiscal decentralization environment.The paper finds that the NPC budget supervision has a significant positive impact on the efficiency.Further,taking the vertical fiscal insufficiency as a threshold variable,it finds that the effect has increased with the increasing of the vertical fiscal insufficiency.Quantile regression displays that the influence is characterized by“inverted U”,which means the impact is heterogeneous.According to empirical findings,this paper argues that full implementation of debt performance management needs more fundamental reforms in debt budget supervision,transparency of debt information and debt limit.At the same time,the standardization and modernization of intergovernmental fiscal relations are necessary.
作者
李一花
亓艳萍
祝婕
Li Yihua;Qi Yanping;Zhu Jie
出处
《财政研究》
CSSCI
北大核心
2019年第11期37-50,共14页
Public Finance Research
基金
山东省社科基金重点项目“山东省重大风险防控研究”（项目编号：19BCJ03）
山东省自然科学基金项目“中国环境事权划分研究”（ZR2019MG039）
山东大学人文社会科学专项“环境治理分权40年：绩效评估、机制识别与改革建议”（HSS1805）
关键词
地方政府债务支出效率
人大预算监督
纵向财政缺口
财政竞争
Local Government Debt Expending Efficiency
National People’s Congress Budget Supervision
Vertical Fiscal Insufficiency
Fiscal Competition
