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我国分税制财税体制存在地方政府与中央政府在财权和事权上的不匹配问题,由此导致地方政府财政收入严重依赖“土地财政”。大量资源流入不动产领域,不利于制造业企业的发展。该文利用2003-2013年省级面板数据进行实证检验,研究结果显示:现行的财税体制与“土地财政”显著地降低了制造业企业的利润率。此外,该文还发现,分税制与“土地财政”对制造业发展的抑制作用在空间和时间分布上有较大差异。在中东部地区,金融危机以后这种抑制作用表现较明显,而在西部地区,金融危机以前这种作用较弱。该文建议对资本利得和资产持有征税,将资本重新导入到制造业领域,同时还要重新统筹分配财税收入。
The tax-sharing system in our country has the mismatch between the local government and the central government on the financial rights and powers, resulting in the serious dependence of the local government’s fiscal revenue on “land finance ”. Large amounts of resources flow into the real estate area, which is not conducive to the development of manufacturing enterprises. The paper uses the provincial panel data from 2003 to 2013 to test the empirical results. The results show that the current fiscal system and land finance significantly reduce the profit margin of manufacturing enterprises. In addition, the article also found that the tax-sharing system and the “land finance” on the inhibition of the development of manufacturing industry in space and time distribution are quite different. In the central and eastern regions, the repression was more pronounced after the financial crisis, while in the western region, the financial crisis was weak before. The paper suggests taxing capital gains and assets and reintroducing capital into the manufacturing sector, while reallocating tax revenues collectively.