A Study On The Influence Of Increasing Fiscal Transparency On Land Fiscal Scale

The new Budget Law was officially implemented on January 1,2015.It made changes in legislative purposes,budget disclosure,investigation,and management,and proposed "strengthening budget management,strengthening budget constraints,promoting budget transparency,and regulating the government.income and expenditure behavior” etc.The 94-point tax system initially divides the financial and administrative powers between the central and local governments,but this reverse movement of increasing financial power and dissolving administrative power has made the gap between local governments’ fiscal revenues and expenditures larger and larger;officials in the Chinese-style “race to the bottom” Under the dual constraints of promotion and "growth-oriented" assessment,local governments are keen to expand the scale of fiscal expenditures,especially large-scale investment in infrastructure to attract the inflow of factors,making local governments face increasing financial pressure,forcing them to rely on land.Sell to generate income.With the over-reliance of local governments on land finance,a series of economic and social conflicts have arisen.Therefore,it is of great significance to study how to reduce the local dependence on land finance and promote the sustainable and healthy development of my country’s economy.The implementation of the new "Budget Law" in 2015,for the first time,included the disclosure of financial information into the law,which further improved the openness and transparency of government budgets,and strengthened the disclosure of information on land transfer fees.What impact will this move have on land finance? Curb the scale of land finance? Using 2009-2016 provincial panel data from 2009 to 2016 except Tibet as observation samples,the double difference model is used to investigate the impact of the implementation of the new "Budget Law" on the scale of land finance in areas with different fiscal transparency,and to explore its mechanism of action.Further analysis of the differences in the effect of heterogeneity factors on policy implementation.The empirical results show that the implementation of the new "Budget Law" has effectively suppressed the scale of land finance in regions with low fiscal transparency compared with regions with higher fiscal transparency.Regions are more pronounced;the implementation of the new Budget Law has strengthened the budget supervision of the National People’s Congress in regions with low fiscal transparency,thereby restraining the scale of their land finances.