Fiscal Revenue And Expenditure Balanced Development Of Fiscal Policy On Sustainable Development

Recently, fiscal crisis have always broken out in the word, which made the credit of the government where the crisis broken out bankrupted, economy stagnated and people lived in poverty. Also the fiscal crisis aggravated tension of international financial statement, and affected the other countries'financial stability. Our government put forward a package of economic stimulus plans to answer the financial crisis in 2008. As a result, fiscal deficit and government liabilities persistently increased. People began to worry that whether such great magnitude of fiscal deficit and government liabilities bring about the government fiscal crisis, even threat fiscal safety and the sustainable development?The paper begins from the root of the financial crisis, makes the theory analysis and policy practice as the main content. According the clue of fiscal crisis's form, development and measures, the paper establish the theory analysis frame of fiscal policies sustainability in the theory analysis of the fiscal crisis and fiscal policies sustainability. Then it quantificationally analyzes and empirically tests our government's fiscal income and expense, and discusses the fiscal policies sustainability and the form reason in the basis of the government fiscal policy practice. Use the H-P filter to get the structural deficit, and the result indicates that our ratio of structural deficit are too large, but the trend is decrease. At the meantime, the cointegration test of the fiscal revenue and expand shows that our fiscal revenue and expand has long-term cointegration and our fiscal policies has sustainability. But the debt magnitude will increase. The empirical tests indicate that our fiscal policies has sustainability in the term of the balance of the fiscal revenue and expand. At last, the paper analyses the empirical test result further and gives advice to improve our fiscal policies sustainability.