Financial Pressure,Budget Performance Management and Financial Expenditure Efficiency:A Quasi Natural Experiment Based on the Implementation of the Newly Revised Budget Law
Financial Pressure,Budget Performance Management and Financial Expenditure Efficiency:A Quasi Natural Experiment Based on the Implementation of the Newly Revised Budget Law
Implementing budget performance management is a key measure to optimize the allocation of financial resources and improve the quality of public services.By using the panel data from 30 provinces in mainland China and taking the implementation of the newly revised Budget Law in 2015 as a quasi natural experiment,this study investigates the impact of budget performance management reform on financial expenditure efficiency by adopting composite control method and constructing a double difference model.The research results show that after the implementation of the newly devised Budget Law,budget performance management reform can significantly improve the efficiency of financial expenditure in the areas with low financial pressure,while the effectiveness of budget performance management reform is significant;and compared with the areas with low financial pressure,the efficiency of financial expenditure in the areas with high financial pressure has a slight increase with an increase amplitude of about 2.6％.The results of a further analysis show that the areas with high financial pressure have not significantly improved their financial expenditure structure to alleviate their financial pressure,and their budget performance management needs to be further implemented.This study provides important reference for China to grasp the direction of budget performance management reform in the future,and has important practical significance for China's new round of financial and taxation system reform.
万方数据