Realizing high-quality development and promoting the common prosperity of all people is the road to Chinese-style modernization,and it is of theoretical and practical significance to explore the income distribution effect of fiscal policy.This article systematically reveals the impact mechanism of local public debt on narrowing the income distri-bution gap from the perspective of debt revenue and expenditure structure,elucidates the possible posi-tive and negative cyclical impacts between debt sustainability and income distribution structure,and finds that the scale of local public debt is posi-tively correlated with the degree of social inequality,and that the final changes in the distribution pattern are affected by the structure of debt financing and the efficiency of debt expenditure.Considering China's economic cycle and fiscal system,the arti-cle proposes a fiscal policy framework to reduce systemic financial risk governance,improve fiscal sustainability and perfect the income distribution structure,which provides a reference for promoting sustainable economic growth and common prosperity.
Local public debtCommon prosperityIncome distribution structureStructure of fiscal revenues and expenditure
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