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《Journal of Public Management》 2009-03
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The Effect of Taxation,Fiscal Expenditure Policies on Macroeconomic Function——Based on the Panel Data of Different Provinces in China

Liu Changsheng 1,2(1.Jishou University,Zhangjiajie,Hunan,427000,China; 2.Lingnan College,Sun Yat-sen University,Guangzhou,510275,China)  
The function of fiscal policy for macroeconomic is a kernel issue in macroeconomics. However, relative literatures mainly focus either on fiscal expenditure or on taxation which affects macroeconomic. The paper establishes an endogenous economic growth model based on fiscal expenditure and taxation. From this model,we can conclude that after giving the changing path of taxation and fiscal expenditure policies, economy will attain competitive decentralized equilibrium. There is an inverse-U relation between the rate of taxation and economic growth, and a positive relation between governmental investment expenditure and economic growth. Social welfare may be affected by governmental expenditure scale and structure. Making use of panel data of different provinces in China to test it,there exists a long term equilibrium relation among general output,consumption,investment,governmental investment expenditure, the rate of taxation and interest, wage in Chinese economic system, and exists a competitive decentralized equilibrium. Also the best rate of macroeconomic taxation is 28.63% and there is a positive relation between governmental investment expenditure and the rate of economic development, but its effect on social welfare is not certain and has a large regional difference. This accounts for that the stability of fiscal expenditure policy and taxation policy, different regional taxation system arrangement and governmental expenditure structure will be in favor of different regional economic growth.
【CateGory Index】: F812.4;F124;F224
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