摘要
本文以马克思再生产理论为基础构建了一个包含固定资本的三部类再生产模型,将收入分配和技术结构纳入财政支出乘数的分析框架,拓展了财政支出乘数影响因素的相关研究。以此为基础,本文运用中国1992年以来的投入产出表数据测算了各年度财政支出乘数,总结了收入分配、技术结构和财政支出结构变迁的典型事实及其对财政支出乘数的影响。研究发现:剩余价值率与财政支出乘数负相关,当收入分配制度改革使劳动收入份额不断提高时,财政支出乘数会变大,当前中国的劳动收入份额不断提升,有利于提高财政政策的效能;固定资本有机构成与财政支出乘数正相关,流动不变资本有机构成与财政支出乘数负相关,当发生固定资本偏向型的技术进步时财政支出乘数变大,发生流动不变资本偏向型的技术进步时财政支出乘数变小。本文认为在高质量发展和新发展格局构建的过程中,以共同富裕为导向的收入分配制度改革和创新驱动发展战略有助于财政政策的提质增效。
Facing the economic pressures from at home and abroad,China has implemented a“proactive fiscal policy”and focused on improving the efficiency of the fiscal policy.Meanwhile,China has implemented the income distribution system reform with the goal of common prosperity and the innovation⁃driven development strategy with the goal of promoting technological innovation and industrial upgrading.This paper aims to analyze impacts of the income distribution and the technical structure on stimulus effects of the fiscal policy.Based on Marx's reproduction schema,this paper constructs a three⁃department reproduction model including fixed capital.From that it deduces the fiscal expenditure multiplier,and then analyzes influences of the organic composition of capital(reflecting the structure of production technology)and the rate of surplus value(reflecting the structure of income distribution)on the fiscal expenditure multiplier.Then,we used the input⁃output table data of China since 1992 to estimate the fiscal expenditure multiplier,the organic composition of capital and the rate of surplus value.The results are as followings.(1)The fiscal expenditure multiplier is negatively correlated with the surplus⁃value ratio,positively correlated with the organic composition of fixed capital,and negatively correlated with the organic composition of circulating constant capital.(2)Raising the proportion of consumption expenditure in fiscal expenditure will increase the multiplier of fiscal expenditure.(3)The changes in China's fiscal expenditure multiplier from 1992 to 2018 can be divided into three stages:the fiscal expenditure multiplier increased from 1992 to 2000,decreased from 2000 to 2007,and rose again from 2007 to 2018 due to the decreased surplus value ratio and the increased proportion of consumption expenditure in fiscal expenditure.In terms of policy implications,this paper finds that to improve the efficiency of fiscal expenditure in stimulating economy,we can appropriately increase the share of labor income,develop new technologies,and increase the proportion of fixed capital in capital composition and that of consumer expenditure in total fiscal expenditure.The study of this paper is original in the following aspects.First,it expands the study of Marxist political economy in the field of finance,and provides a new perspective for the analysis of fiscal expenditure multiplier.Secondly,it analyzes influences of the income distribution and the technology structure on the efficiency of government fiscal expenditure,and expands the research on the influence factors of fiscal expenditure multiplier.Future research may expand the study on the efficiency of fiscal expenditure policy to include different effects of central and local fiscal expenditure and the structure of fiscal revenue sources.
作者
赵峰
钟荣盛
赵奕菡
李帮喜
ZHAO Feng;ZHONG Rongsheng;ZHAO Yihan;LI Bangxi(Renmin University of China,100872;Beijing Institute of Technology,102401;Tsinghua University,100084)
出处
《财贸经济》
CSSCI
北大核心
2023年第9期22-39,共18页
Finance & Trade Economics
基金
国家社会科学基金重大项目“习近平经济思想的政治经济学研究”(22&ZD050)
国家社会科学基金重点项目“实施扩大内需战略同深化供给侧结构性改革有机结合的重大举措研究”(23AZD016)。
关键词
财政支出乘数
收入分配
共同富裕
技术结构
再生产理论
Fiscal Expenditure Multiplier
Income Distribution
Common Prosperity
Technical Structure
Theory of Reproduction
