A Research on the Efficiency of Positive Financial Policy
-
摘要: 在政府债务对居民消费的影响方面,"凯恩斯主义"和"李嘉图主义"提出了对立的观点。 通过对"凯恩斯主义"和"李嘉图主义"两种政府债务观的检验,利用计量经济学方法探讨 了积极的财政政策在中国的适用性。结果表明,在中国目前经济转型阶段,积极的财政政策 有利于促进居民消费增长,李嘉图等价定理虽不成立,但它在财政政策和政府债务规模的控 制上,对中国仍有一定的指导意义。Abstract: With regard to the effect of government debt on household consumption, there is a sharp contrast between the "Keynesian1" view and the "Ricardian" view. Thi s paper uses econometric methods to study the efficiency of positive financial p olicy in China by testing the feasibility of both "Keynesian" and "Ricardian " views on government debt. The findings show that at China-s current stage of economic restructuring, positive financial policy can promote the growth of hous ehold consumption, the Ricardian Equivalence theorem is not tenable, but it stil l has some guiding significance on the control of financial policy and the scale of government debt.
-
Keywords:
- Ricardian Equivalence /
- government debt /
- efficiency
-
-
[1] 李广众. 政府支出与居民消费:替代还是互补[J]. 世界经济,2005(5):38. [2] 杰弗里·萨克斯,费利普·拉雷思. 全球视角的宏观经济学[M]. 上海:上海人民出版社,2004:103. [3] 类承曜. 国债的理论分析[M]. 北京:中国人民大学出版社,2005:52. [4] 宋福铁,陈浪南. 各主要学派有关国债的宏观经济效应比较[J]. 华东理工大学学报:社会科学版,2004(4):42-48. [5] 尹恒,叶海云. 中国政府债务对居民消费影响的实证研究[J]. 北京大学学报:哲学社会科学版,2005,42(4):79-87. [6] Albert Ando, Franco Modigliani. The life cycle hypothesis of saving: aggregate implications and tests[J]. The American Economic Review, 1963(53): 55-84. [7] Feldstein Martin. Social security, induced retirement, and aggregate capital accumulation[J]. The Journal of Political Economy, 1974(82):905-926. [8] Roger C Kormendi. Government debt, government spending, and private sector behavior[J]. The American Economic Review, 1983,73(5):994-1010.
计量
- 文章访问数: 1640
- HTML全文浏览量: 0
- PDF下载量: 1017