The role of Provincial Government Spending Composition in growth and convergence in China
The role of Provincial Government Spending Composition in growth and convergence in China
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DOI：
10.1016/j.econmod.2020.04.024
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发表时间：
2020-08-01
影响因子：
4.7
通讯作者：
Wang, Baoshun
中科院分区：
文献类型：
--
作者：
Luintel, Kul B.;Matthews, Kent;Wang, Baoshun
自1978年以来，中国的发展政策因地区而异。随着总的快速增长，区域不平等也在扩大。1994年的财政分权改革将政治压力转移到省级官员身上，要求他们通过地方公共投资促进地方增长。这些投资通过抵消要素积累中的监管摩擦影响区域趋同，也可以决定稳态增长。然而，公共支出在物质资本和人力资本上的分配对增长和收敛过程的影响在中国各省尚未得到实证研究。我们采取省级时间序列数据的公共支出类别，发现地方公共支出及其组成部分增加收敛速度不同地区。教育和卫生支出对增长和趋同的贡献明显大于资本支出，这证实了公共资本支出偏好不是一种局部增长优化策略。我们建议一项政策，调整地方政府的促进激励措施，以人力资本的目标，以纠正当地的资源配置不当。
China's development policy since 1978 has differed across regions. With rapid aggregate growth has come widening regional inequality. The fiscal decentralisation reforms in 1994 shifted political pressure onto provincial officials to boost local growth through local public investments. These investments affect regional convergence by counteracting regulatory frictions in factor accumulation, and can also determine steady-state growth. However, the effect of public spending allocations across physical and human capital on growth and convergence processes is empirically unexplored for Chinese provinces. We take provincial time-series data on public spending by category, finding local public spending and its components augment convergence rates differently across regions. Spending on education and health contributes significantly more to growth and convergence than capital spending, confirming that the public capital-spending bias is not a local growth-optimising strategy. We suggest a policy of aligning local government promotion incentives to human capital targets to correct local resource misallocation.