政府收支、要素贡献与资本收入份额：理论与中国经验研究.pdfVIP

政府收支、要素贡献与资本收入份额：理论与中国经验研究 方文全∗ 上海理工大学管理学院（上海，200093 ） 内容摘要：本文在三部门内生增长模型中分析政府基于间接税的生产性支出对要素收入 份额的影响，证明经济增长中均衡的政府财政收支有利于保持较高的经济增长水平，同时提 高了资本的产出弹性和收入份额。并利用 1993-2006 年中国省级地区的面板数据对影响资本 收入份额的决定因素进行检验，结果显示，地方政府财政收支对资本收入份额具有显著的直 接而持续的双重增强作用；而整体的产业结构变迁效应不具有显著的影响；证实政府收入的 资本依赖和扩张性支出的资本偏向有利于提高资本收入份额，而不利于劳动收入份额。 关键词：资本收入份额 要素分配 财政收支 内生增长模型 中图分类号：F047 文献标识码：A Fiscal Policy and Capital Income Share: Theory and Evidence from China’s Provincial Panel Data Fang Wenquan Business School, USST, Shanghai, 200093 Abstract: This paper revises a multi-sector endogenous growth model to prove that the capital income share would be negatively affected by government’s productive expenditure based on capital tax. The Kaldor typical fact that factors’ income share holding constant may have a transform in the three-sectors model in which general output increasing to scale, capital elasticity on output enlarging along with government’s productive expenditure. Then China’s provincial panel data are tested to provide empirical evidences that local governments’ fiscal revenues were nonsignificant positively, and debts were significantly positively correlative with the capital income share, however the industries shift effect and structure change effect on capital composite were mixed and nonsignificant as a whole. Fiscal policies of China’s local governments which could be concluded as the capital-dependent revenue and capital-bias expenditure were severely friendly to the capital owners and undirected against the labors’ share. Key words: Capital Income Share; Factor Distribution; Capital Tax; Government Productive Expenditure