CHINA'S FISCAL DECENTRALIZATION AND REGIONAL ECONOMIC GROWTH

被引：19
|
作者：
Chu, Jian [1 ]
Zheng, Xiao-Ping [1 ]
机构：
[1] Ritsumeikan Univ, Kyoto, Japan
来源：
JAPANESE ECONOMIC REVIEW | 2013年 / 64卷 / 04期
关键词：
STATE;
D O I：
10.1111/jere.12013
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The present paper applies Lucas's theory of endogenous growth and Stiglitz's theory of local public goods to build an econometric model consisting of five simultaneous equations to study China's fiscal decentralization effects on regional economic growth. The model is estimated by two-stage least squares using a set of panel data on 31 Chinese provinces during 1996-2005. The estimated results show that China's fiscal decentralization increased the local governments' expenditure on physical infrastructure and education, which led to the rising local physical capital stock and human capital levels, respectively, and then resulted in the growth of regional economies.
引用
收藏
页码：537 / 549
页数：13
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