摘要
渐进转轨过程中,政府面临许多挑战,因此保持并强化国家能力十分必要。为了保持国家能力,中国政府加强了对金融业的控制,促使其行使财政职能。这体现为,在资源动员过程中,金融业具有税收替代功能;在资源配置过程中,金融业具有财政替代功能。由此,金融资源被异化为中央和地方政府的财政资金,金融业异化为“第二财政”。作为“第二财政”的金融业,发挥着提供铸币收入、平衡预算赤字、替代财政投资、平衡地区差距、替代财政补贴等多项财政功能。这种替代既有逻辑上的必然性——渐进改革的必然要求,也有其现实上的不合理性——财政功能和金融功能错位。只有进行金融制度建设,促进财政到位,才能使得金融归位。
It is very important to maintain the slate capacity in a transition economy. For this reason, China's Central and local governments intervened in the financial development by making China's financial sector perform the function of public finance after 1978. As a result, China's financial sector became a substitute to the taxation system in mobilizing national resources, and a substitute to public finance in allocating resources. China's financial sector has become the secondary fiscal institution. Funds stored in financial sector has provided for the resources needed by the Central and local governments. China's financial sector performed the functions of providing Seigniorage, balancing the budget deficit, substituting government investment, balancing the regional economic disparity, substituting fiscal subsidies etc. The raising of the central government's financial capacity is the precondition of its falling fiscal capacity. Thus, the financial industry paid the cost of China's gradual reform. To promote the gradual reform, China sacrificed both the development and the reform of finance. To start up the reform of finance, China must speed up restructure financial sector and fiscal institutions.
出处
《华南金融研究》
2003年第3期13-23,共11页
South China Financial Research
基金
2001年"中国博士后基金"
关键词
国家能力
金融功能财政化
经济转轨
金融制度建设
金融业
资源配置
Transitional Economy
Gradual Reform
China's State Capacity
Financial Capacity
Fiscal Capacity
Second Public Finance
