本文關鍵詞： 金融分權 民間投資 地方財政支出 空間溢出效應　出處：《山西財經(jīng)大學學報》2017年01期 　論文類型：期刊論文

【摘要】：通過引入公共選擇學派的競賽成功函數(shù),構建金融分權的理論框架,發(fā)現(xiàn)地方政府爭奪金融分權增加了本地和周邊可比地區(qū)的民間投資水平,并引發(fā)地方政府財政支出的競爭效應。在理論分析的基礎上,構建SDM模型進行實證檢驗。結果發(fā)現(xiàn):地方金融分權水平越高,本地民間投資越高,并對周邊相鄰及經(jīng)濟發(fā)展水平相似地區(qū)的民間投資具有顯著正向空間溢出效應;地方爭奪金融分權顯著提高了地方財政支出,對本地民間投資產(chǎn)生了擠入效應,但對周邊相鄰及經(jīng)濟發(fā)展水平相似地區(qū)的民間投資產(chǎn)生了擠出效應。
[Abstract]:By introducing the competitive success function of public choice school to construct the theoretical framework of financial decentralization, it is found that local governments' competition for financial decentralization increases the level of private investment in local and adjacent comparable areas. On the basis of theoretical analysis, we construct SDM model to make empirical test. The results show that the higher the level of local financial decentralization, the higher the local private investment. It also has a significant positive spatial spillover effect on the neighboring areas and the areas with similar economic development level. Local competition for financial decentralization has significantly increased the local financial expenditure, which has a crowding effect on local private investment, but it has a crowding out effect on the neighboring areas and areas with similar economic development level.
【作者單位】： 南京大學經(jīng)濟學院;
【基金】：國家自然科學基金項目(71271108)
【分類號】：F832.5;F124

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