發(fā)布時(shí)間：2018-07-30 08:47

【摘要】：改革開放以來,地方政府一直充當(dāng)著推動(dòng)經(jīng)濟(jì)增長(zhǎng)的引擎作用,其“公司化”傾向不斷增強(qiáng)。地方政府利用財(cái)政信用的擴(kuò)張,添補(bǔ)了市場(chǎng)主體紛紛去杠桿化導(dǎo)致的市場(chǎng)信用萎縮,從而避免了大量的企業(yè)倒閉、工人失業(yè)、農(nóng)民返鄉(xiāng)等不利后果,使得中國(guó)經(jīng)濟(jì)在國(guó)際經(jīng)濟(jì)危機(jī)中率先擺脫了危機(jī)陰影。但與此同時(shí),大擴(kuò)張也帶來了政府投融資平臺(tái)過度借貸、產(chǎn)能過剩、政府間惡性競(jìng)爭(zhēng)和銀行不良貸款等“后遺癥”。這說明我國(guó)地方財(cái)政投資中仍存在著突破預(yù)算約束的沖動(dòng),反映出我國(guó)政府財(cái)政投資決策、監(jiān)督、問責(zé)等體制尚不健全。現(xiàn)階段亟須對(duì)我國(guó)地方政府財(cái)政投資軟預(yù)算約束的動(dòng)因做進(jìn)一步分析,以實(shí)現(xiàn)逐步硬化預(yù)算約束、規(guī)范地方政府財(cái)政投資行為的目標(biāo)。 本文從軟預(yù)算約束的視角來研究地方財(cái)政投資行為,首先對(duì)建國(guó)以來我國(guó)地方財(cái)政投資行為特征及軟預(yù)算約束情況進(jìn)行梳理,總結(jié)出投資軟預(yù)算約束的表現(xiàn)與特點(diǎn)；然后從政績(jī)考核機(jī)制、財(cái)政投資體制、預(yù)算管理體制、金融信貸審批機(jī)制、監(jiān)管機(jī)制等方面深入剖析了我國(guó)地方財(cái)政投資存在軟預(yù)算約束的制度成因,并運(yùn)用動(dòng)態(tài)博弈論對(duì)地方政府與項(xiàng)目代理人、中央政府、同級(jí)其他地方政府之間的博弈過程進(jìn)行分析,最后對(duì)比國(guó)外相關(guān)經(jīng)驗(yàn),提出硬化預(yù)算約束、規(guī)范地方財(cái)政投資行為的政策建議。 制度帶有根本性、全局性,研究我國(guó)地方財(cái)政投資行為中預(yù)算軟約束形成的原因必須從制度入手。作者認(rèn)為現(xiàn)有財(cái)政體制下地方財(cái)權(quán)與事權(quán)不對(duì)等以及不科學(xué)的政績(jī)考核制度促使地方官員產(chǎn)生了突破財(cái)政投資預(yù)算約束的動(dòng)機(jī),而不科學(xué)的投資決策體制、不健全的預(yù)算管理機(jī)制、不嚴(yán)格的金融信貸審批制度和缺失的外部監(jiān)管機(jī)制均給地方政府突破投資預(yù)算約束留下了制度操作空間。地方政府與財(cái)政投資項(xiàng)目代理人進(jìn)行救助博弈時(shí)往往因?yàn)榭紤]到項(xiàng)目破產(chǎn)所帶來的負(fù)面影響而被迫給予項(xiàng)目救助；中央與地方政府間的信息不對(duì)稱以及委托代理關(guān)系使得兩者博弈時(shí)地方政府存在一定的優(yōu)勢(shì)；地方政府相互間的博弈因?yàn)楣賳T追求晉升而陷入不斷擴(kuò)大投資規(guī)模的囚徒困境。這些連續(xù)博弈的最終結(jié)果均是財(cái)政投資預(yù)算約束的軟化。 硬化我國(guó)地方財(cái)政投資預(yù)算約束,首先要轉(zhuǎn)變政府職能定位,建立有限與有效的政府,為市場(chǎng)經(jīng)濟(jì)有效運(yùn)行提供良好的基礎(chǔ)；其次,構(gòu)建科學(xué)合理的政績(jī)考核體系,理順政府間支出責(zé)任和收入分配,完善財(cái)政投資決策機(jī)制、問責(zé)機(jī)制,構(gòu)建投資規(guī)模適度判定指標(biāo)體系；最后,要加快《預(yù)算法》的修訂,引入社會(huì)監(jiān)管,建立地方預(yù)算績(jī)效評(píng)價(jià)制度,從制度上約束和規(guī)范地方財(cái)政投資行為,提高財(cái)政投資效率。
[Abstract]:Since the reform and opening up, the local government has been the engine of promoting economic growth, and its "corporate" tendency has been strengthened constantly. The local government has made use of the expansion of financial credit to supplement the market credit shrinking caused by the leveraging of the main body of the market, thus avoiding the failure of a large number of enterprises, the unemployment of the workers, and the return of the peasants to the countryside. As a result, the Chinese economy has taken the lead in getting rid of the shadow of the crisis in the international economic crisis. But at the same time, the expansion also brings the "sequelae" of the government investment and financing platform over borrowing, overcapacity, vicious competition between the government and the bank's bad loans. This shows that there is still an impulse to break through the budget constraints in the local financial investment. The government's financial investment decision-making, supervision, accountability and other systems are still not sound. At this stage, it is urgent to further analyze the reasons for the soft budget constraints of local government financial investment in order to achieve the gradual hardening of budget constraints and standardize the target of local government financial investment behavior.
This paper studies the behavior of local financial investment from the perspective of soft budget constraints. First, the characteristics of local financial investment behavior and soft budget constraints have been combed, and the performance and characteristics of the soft budget constraints are summed up. Then, the performance assessment mechanism, financial investment system, budget management system, and financial credit examination and approval machine are made. The institutional causes of local financial investment in China are deeply analyzed, and the game theory is used to analyze the game process between local government and project agents, central government and other local governments at the same level by dynamic game theory. Policy recommendations for fiscal investment behavior.
The system is fundamental and overall. The reasons for the formation of the soft budget constraints in our local financial investment must start with the system. The author thinks that the local financial power and power and the unscientific performance appraisal system under the existing financial system and the unscientific performance appraisal system have caused the local officials to break through the budget constraints of the financial investment, but not the motive. The investment decision-making system, the imperfect budgetary management mechanism, the unstrict financial credit examination and approval system and the missing external regulatory mechanism all leave the local government to break through the investment budget constraints. The local government and the financial investment project agents often take into account the project bankruptcy. The negative influence is forced to give the project assistance; the information asymmetry between the central and local governments and the principal-agent relationship make the local government have certain advantages when the two games are game; the game between the local government is trapped in the constant expansion of the investment scale because of the officials' pursuit of promotion. The result is the softening of fiscal budget constraints.
In order to harden our local financial investment budget constraints, we should first change the position of government functions, establish a limited and effective government, provide a good foundation for the effective operation of the market economy. Secondly, build a scientific and reasonable performance appraisal system, rationalize the Intergovernmental expenditure responsibility and income distribution, perfect the financial investment decision-making mechanism, accountability mechanism, and build the system. In the end, we should accelerate the revision of the "budget law", introduce the social supervision, establish the local budget performance evaluation system, restrict and standardize the local financial investment behavior, and improve the efficiency of financial investment.
【學(xué)位授予單位】：北京交通大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F812.45

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