Abstract: The reform of “County Directly Administrated by Province” has been put into practice in some regions of China for several years．What the effect of the reform, whether reached the initial purpose，what the effect towards economic interests of the city and county? This paper use the 2001-2011 years of our city and county data through the system GMM estimates empirical analysis of the effect of the reform. From the empirical results ，The reform of‘ County Directly Administrated by Province promote the development of the county economy, and improve the county government's fiscal revenue and expenditure, but restrain the City's economic development to some extent

摘要： 近年来，我国多个地区在探索和实施“省直管县”管理体制，目前这项改革效果如何，有没有达到最初的目的，对市、县经济利益又造成什么样的影响？本文利用2001-2011年我国市、县两级数据，通过系统GMM估计对改革的效果进行实证分析。从实证的结果来看，财政上“省直管县”和“强县扩权”极大的促进了县域经济的发展，提高了县级政府的财政收入和财政支出，但在一定程度上抑制了市本级的经济发展。