Research On The Influence Of Fiscal Transparency On The Deviation Of Local Fiscal Revenue Budget And Final Accounts

The government budget plays an important role in the fiscal system and state governance.On the one hand,it serves as the government revenue and expenditure plan,which embodies the public policy of the government in political,economic and social aspects.On the other hand,as a legal documents,it supervises government actions.The reform of the budget system is an important part of the reform of the fiscal system.In the early years of New China,the budget was attached to the planned economy,and its status and role were not significant.After 1978,with the transformation of the fiscal system,the status and role of the budget has also been continuously enhanced.In 1995,the implementation of the Budget Law means that fiscal revenues and expenditures are beginning to be bound by law.After 1998,the rational budgets has been gradually developed in China and the budget has become more and more democratic.The implementation of the new Budget Law in 2015 marks an important step in the fiscal and taxation system reform.After years of the budgetary system reform,the government budget management has been greatly improved.But problems such as the low fiscal transparency,insufficient supervision,unscientific fiscal revenue forecast still exist.Especially,the existence of the excess revenue since the Tax-Sharing Reform reflects that the government budget management needs to be improved.Therefore,this paper intends to explore ways to improve the budget management of the government by studying the status,characteristics and causes of the deviation degree of fiscal revenue budget and final accounts.Through literature review,there are so many factors that cause the fiscal revenue budget to deviate.Due to the immature budgetary technology,social economic changes will cause objective deviations in income forecasting.The strategic use of the immature budget technology by the government is the source of subjective bias.In the context of public finance,combined with the contract theory and bureaucratic budget maximization theory,it is found that due to the limited rationality and high cost,the legislator cannot make precise budget constraints on all aspects of government activities.Then there is a problem of incomplete contract and information asymmetry in the government budget contract.Therefore,in the case of fiscal opacity,the government will use its information superiority to strategically exerts influence on the budget process in order to pursue the maximum discretionary budget,which will cause the deviation of fiscal revenue budget and final accounts.On the basis of phenomenal understanding and theoretical analysis,this paper selects the deviation degree of fiscal revenue budget and final accounts as the explained variable,and uses fiscal transparency as the core explanatory variable.Taking into account of other factors affecting income forecasting and basing on the provincial data from 2007 to 2016,this paper establishes an econometric model for empirical analysis.The regression results show that the increase of fiscal transparency can significantly reduce the deviation degree of local fiscal revenue budget and final accounts.Finally,according to the empirical results,this paper proposes specific policy recommendations in seven aspects to improve the budget management level of China.