| Economic growth is one of the important objectives of macro-control, as one of the important means of macro-economic regulation and control, fiscal policy has a close relation with economic growth. China’s economy has achieved rapid growth since reform and opening up, but also experienced fluctuations. Fiscal revenue and expenditure is the main tool of fiscal policy, and the topic that how fiscal revenue and expenditure can affect the economic growth is worth studying. This paper adopts a perspective that considered the full range of fiscal revenue and expenditure, so in this paper, financial budget is divided into public budget, the state-owned capital operating budget, the government fund budget and the social insurance fund budget. In addition to study the relationship of the public finance and economic growth, the relationship of the land revenue and economic growth is also the key research object.This paper combines theory and empirical analysis. First, the second chapter defines the scope of financial revenue and expenditure. Then, the third chapter reviews the basic theory of fiscal revenue and expenditure and economic growth. The economic growth theories can be classified by demand restriction and supply restriction from supply aspect and demand aspect respectively. This paper introduces both kinds of theories, trying to discover the theoretical basis of the relation between fiscal revenue and expenditure and economic growth. During this analysis, this part focuses on the emerging domestic theory "Chinese supply-side economics", and summarizes the fiscal policy practices since reform and opening up. From the empirical point of view, the fourth chapter and the fifth chapter apply vector autoregressive model (VAR) and error correction model (ECM) to analyze the relation of public finance expenditure, land revenue and economic growth. Finally, according to the results of theoretical and empirical analysis, several relative policy proposals are put forward. |
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