Contract Execution Efficiency,Financial And Tax Support,Regional Economy

In 2016 the outbreak of the three Chinese capital market defaults,Xintai electric financial fraud,the Northeast Special Steel debt default,FAW shares unilateral breach of contract,occurred in the northeast region,of which two violations occurred in the territory of Liaoning,March 2017 Liaoning Huishan dairy enterprises fictitious profits,the company was tunneling,and the outbreak of the debt crisis,causing huge the negative impact of these events on Liaoning and the northeastern region of the business environment,regional economic development,even in the high outgoing network investment but Shanhaiguan "negative comments from the parties,in the face of the business environment in Liaoning questioned at the same time,all kinds of investment in Liaoning began to decline.The investment of fixed assets in Liaoning,especially the investment of equipment and appliances with special assets,has been decreasing year by year.Capital and talents are all outflowing.The contract and its execution efficiency have to be valued.The efficiency of contract execution is one of the most important institutional factors that determine productivity.It is an important source of regional comparative advantage,and plays a positive role in regional economic development,talent introduction and foreign investment.Based on the new institutional economics and incomplete contract theory,this paper expounds the source of the loss of efficiency of contract execution from the transaction cost and the theory of property rights,The efficiency evaluation system of the three level contract execution is set up.The first level evaluation of the efficiency of regional contract execution from the macro,middle and micro level,the second level has refined the first level index,the three level index has given the specific quantification method,and has revised the original measurement index partially,making it easier to measure.Default data and other related data collected by Liaoning listed companies,the use of contract enforcement efficiency evaluation index system,analyzes the recent Liaoning regional default etc.,to reflect the Liaoning area of contract enforcement efficiency,from the data can be found in the Liaoning market has increased slightly,but compared with the developed areas is still a considerable gap and in the absence of government fiscal support to intervene in the case,it is difficult to Liaoning through its own development and improve the market mechanism,between the narrow the gap with the developed areas andimprove the efficiency of regional implementation of contract.Secondly,by constructing the use of specific assets as a measure of the efficiency of the contract variables regional computable general equilibrium(CGE)model,based on social accounting matrix of input-output table of Liaoning Province in 2012,and the statistical yearbook of Statistics Bulletin(SAM)table data provide a basis for empirical data in Liaoning Province as an example,the simulation of economic operation the whole society,to study the effects of fiscal policy under the impact of specific assets and endogenous variables change on regional economy,influence of variables including the specific asset demand income,corporate income,government income,GDP and on behalf of contract enforcement efficiency.The results of the empirical study show that the increase in the demand for special assets can effectively improve the gross domestic product,the income of the residents and so on,and promote the regional economic growth.In the impact of various fiscal and tax policies,the government transfer payment can obviously improve the efficiency of regional contract execution and increase the demand for special assets.