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通过构建包含金融部门和财政分权安排的内生增长模型,从中央政府的视角研究财政分权与地区金融发展之间的关联:分税制后,中央政府收入目标趋于合理,面向地方政府的分权安排及其变动影响了地区金融发展。使用1994～2008年省级面板数据,实证发现:以财政收入衡量的分权水平对金融发展有促进作用,而事实上的过度分权却产生了抑制效应;财政分权对地区金融发展的影响具有显著的区域差异,在东部具有促进作用,不利影响体现在中西部。
By building an endogenous growth model that includes financial institutions and fiscal decentralization arrangements, we study the link between fiscal decentralization and regional financial development from the perspective of the central government. After the tax-sharing system, the revenue target of the central government tends to be reasonable and targets the local government The right arrangements and their changes have affected the financial development in the region. Using the panel data from 1994 to 2008 in the province, it is found that decentralization, as measured by fiscal revenue, has a positive effect on the development of finance while de facto over-decentralization has an inhibitory effect. The impact of fiscal decentralization on regional financial development It has significant regional differences and has a promoting role in the east with negative impacts reflected in the central and western regions.