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Ming Li: Fiscal expenditure structure in 30 years: Trends and Rules

[Published]: 2022-11-11[Source]: [Browsing]:

Speaker: MingLi (Professor, Department of Finance and Taxation, University of International Business and Economics)

Description: The core issue of budget theory research is the allocation of financial resources, and the expenditure structure is the concentrated embodiment of the allocation of financial resources. Based on the data of more than 20 fiscal expenditure items at national, central and provincial levels from 1990 to 2020, this paper investigates the basic logic of the structural change of Chinese fiscal expenditure (and thus the allocation of financial resources). On the whole, the change pattern of Chinese fiscal expenditure structure is consistent with the forecast of discontinuous equilibrium model, and the gradual change coexists with the discontinuous adjustment, among which the discontinuous adjustment mainly comes from the impact and feedback of major crisis and decision making and deployment. Further research shows that the frequency of central fiscal discontinuous adjustment is greater than that of local governments. Meanwhile, local governments' response to central expenditure orientation is not timely, and there are obvious heterogeneity and strategy. The research suggests that we should focus on important policy Windows, put equal emphasis on top-level design and incentives, and encourage local governments to actively promote fiscal expenditure structural adjustment.

Time: November 15, 2022(Tuesday),14:00-16:00

Venue: Tencent meeting Room ID:508541306