During The Southern Song Dynasty Emperor's Financial System

It is an important question to the research of history in China and foreign public finance how to draft a reasonable, efficient public finance relation between central and local governments. The research of the Song history of public finance has been an emphasis, but lacks in public finance relation between central and local governments. This paper The Public Finacial Institutions in Emperor Gaozong Times, combined with theories of History Public Finance and New Institutional Economics, centered on the public finance relation between central and local governments in Song Dynasty, analyzes and demonstrates the character- istics of it from the institutional foundation .changes in public finance and its affect. This paper includes three parts: introduction, text and conclusion.Part 1 is an introduction, which simply introduces its cause , target, theoretic tools and structure.Part 2, the paper text, divides three chapters to detail the bases, course and influence of the public financial institutions in Emperor Gaozong Times of Southern Song. Chapter 1 expounds the politic system and economic situation for the foundation of the financial institutions in the early Southern Song. It is the first time on the research of the Song's financial history that, divided into two periods, Chapter 2 has indivi-dualy discussed the changes of the public financial institutions of Emperor Gaozong Times. Chapter 3 analyses an influence of changes which brought out a new financial institution,the two-level-and -multimanage-ment financial institutions.Part 3 is the conclusion, which accouts for my opinions to the financial institutions in Southern Song, that is when social economy progressed and military expenditure increased in a domain-reduced country, the Southern Song Central Government had to augment its revenue by ceaselessly comminut -ing the local shares and built Zonglingsuo to adminster military expenditure for the central armies;while the Local Government had to do more things and didn't get the corresponding budget, the Local became poor and imposed exorbitant taxes and levies on the people, which led to the changes of the financial institutions and unbalanced the rights, duties and shares between the Central and Local, engendering an encouragement that went against the social economic development.