Regional Difference of Economic Growth Quality Under the Background of Fiscal Decentralization—Test based on System GMM and the Threshold Effect

Abstract

Abstract:

Fiscal decentralization plays an important role in the development of China's economy into a high-quality stage. This article makes use of the dynamic panel model and panel threshold model to study the relationship between fiscal decentralization and the quality of economic growth based on 29 provinces' (municipalities and autonomous regions) panel data from 2000 to 2015 in China. The results are as follows:For one thing, fiscal decentralization has a significant effect on promoting the quality of economic growth and the promotion effect varies in different regions;for another, fiscal decentralization has a significant threshold effect on the quality of China's economic growth. Finally, based on the above findings, it is concluded that it is important to strengthen the regional fiscal decentralization for the improvement of the quality of China's economic growth.

Key words: Fiscal Decentralization System, Economic Growth Quality, Regional Difference, SYS-GMM, Threshold Effect.

摘要：

财政分权在中国经济向高质量发展阶段扮演着重要的角色。基于此背景下,本文选择我国29个省(市、自治区)2000~2015年的面板数据,构建动态面板和门槛面板模型,对财政分权与我国经济增长质量进行实证检验,结果发现:一是财政分权对我国经济增长质量具有显著的促进作用,并且会因地区发展的差异性而表现出不同的促进效果;二是财政分权对我国经济增长质量存在显著的门槛效应。最后,针对上面结论,得出继续强化地区财政分权力度是实现我国经济增长质量提升的重要启示。

关键词: 财政分权, 经济增长质量, 地区差异, 系统矩估计, 门槛效应

CLC Number:

F810.4

LIN Chun SUN Yingjie. Regional Difference of Economic Growth Quality Under the Background of Fiscal Decentralization—Test based on System GMM and the Threshold Effect[J]. .

林春,孙英杰. 财政分权背景下的经济增长质量地区差异——基于系统GMM及门槛效应的检验[J]. 财经论丛.

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