论文标题
宏观经济不稳定和财政分散化：经验分析
Macroeconomic Instability And Fiscal Decentralization: An Empirical Analysis
论文作者
论文摘要
本文的主要目的是通过分析权力中心化对宏观经济稳定性的影响来填补文献中的关键空白。对权力下放的大量文献的调查表明，权力下放与宏观经济稳定性之间的联系的问题已经相对较少。尽管就权力中心化对经济其他方面的影响而言，仍然有很大的分析空间，但我们认为，在这一领域，大多数人都需要进行更彻底的分析。通过本文，我们将试图通过比以前的研究中通常使用的宏观经济稳定性以及检查可能强调或减少分散式对宏观经济稳定性影响的其他因素来试图更多地阐明该问题。我们的结果发现，权力下放似乎导致通货膨胀率降低。但是，我们没有发现权力下放与财政赤字水平之间的任何相关性。我们的结果还表明，权力下放对通货膨胀的影响是基于感知到的腐败和政治机构的水平。
The main objective of this paper is to fill a critical gap in the literature by analyzing the effects of decentralization on the macroeconomic stability. A survey of the voluminous literature on decentralization suggests that the question of the links between decentralization and macroeconomic stability has been relatively scantily analyzed. Even though there is still a lot of room for analysis as far as the effects of decentralization on other aspects of the economy are concerned, we believe that it is in this area that a more thorough analyses are mostly called for. Through this paper, we will try to shed more light on the issue notably by looking at other dimension of macroeconomic stability than the ones usually employed in previous studies as well as by examining other factors that might accentuate or diminish the effects of decentralization on macroeconomic stability. Our results found that decentralization appears to lead to a decrease in inflation rate. However, we do not find any correlation between decentralization with the level of fiscal deficit. Our results also show that the impact of decentralization on inflation is conditional on the level of perceived corruption and political institutions.
