Intergovernmental Division of Administrative Powers and Transfer Payments of Common Fiscal Powers:Study Based on the Equalization of Financial Resources at the County Level
Applying the RE index and Gini coefficient decomposition method,this paper studies the fiscal equalization effects of the transfer payment of common fiscal powers established in 2019.The research finds that whether national or local levels,the transfer of common fiscal powers has a significant effect on the equalization of fiscal resources at the county level,and the marginal effect is stronger than the general transfer payment.This means that increasing the scale of the transfer payment of common fiscal powers can better promote the equalization of fiscal resources at the county level.The equalization effect of the transfer payment of common fiscal powers is mainly reflected in the narrowing of the inter-provincial gap,while the narrowing of the gap within the province is not obvious.This means that the budget allocation from the central government to the province is more clearer than the equalization of the distribution of transfer payments from the province,and the policy implementation is more thorough.From the perspective of regional distribution,the equalization effect of lower transfer payments in central provinces and provinces is the most significant,while the gap between the fiscal resources at the county level of the developed provinces in the east and some underdeveloped provinces in the west rises instead of the implementation of transfer payments.This paper proposes to perfect the policy of transfer payment of common fiscal powers,which should coordinate the equalization of fiscal resources and the equalization of basic public services,the consistency of the transfer payment funds allocation between the central government and the sub-provincial government,and the matching of general debt and government fiscal resources.
division of administrative powerstransfer payment of common fiscal powersequalization of fiscal resources
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