Tax Sharing, Fiscal Incentives, and Market Integration: Evidence from the "Five-to-Five" Sharing Reform of VAT

JIN Qu; ZHANG Yi-ling; ZHAN Xin-yu

Volume 39 Issue 3

May 2024

Turn off MathJax

Article Contents

Article Navigation > Journal of Guangdong University of Finance & Economics > 2024 > 39(3): 66-78

JIN Qu, ZHANG Yi-ling, ZHAN Xin-yu. Tax Sharing, Fiscal Incentives, and Market Integration: Evidence from the 'Five-to-Five' Sharing Reform of VAT[J]. Journal of Guangdong University of Finance & Economics, 2024, 39(3): 66-78.

Citation:

JIN Qu, ZHANG Yi-ling, ZHAN Xin-yu. Tax Sharing, Fiscal Incentives, and Market Integration: Evidence from the "Five-to-Five" Sharing Reform of VAT[J]. Journal of Guangdong University of Finance & Economics, 2024, 39(3): 66-78.

Citation:

PDF( 1712 KB)

Tax Sharing, Fiscal Incentives, and Market Integration: Evidence from the "Five-to-Five" Sharing Reform of VAT

1.
School of Finance and Taxation, Zhongnan University of Economics and Law, Wuhan 430073
2.
School of International Economics and Management, Beijing Technology and Business University, Beijing 100048, China

Received Date: 2023-10-18
Available Online: 2024-06-15
Publish Date: 2024-05-28

Abstract

Abstract

Fiscal and tax policies are the institutional guarantee for macroeconomic operation, playing a significant role in building a united national market and promoting Chinese path to modernization. Adopting the price method assessing market integration at the prefecture-level cities from 2009 to 2020, this paper builds a difference-in-differences model with an intensity index based on 2016 value-added tax reform being an exogenous shock, to investigate the effect of fiscal incentives on market integration. The results indicate that the fiscal incentives generated by the increase in tax sharing ratio are conducive to market integration, which is more pronounced in cities with high marketization index, high-level market integration, and larger population. The mechanism analysis shows that increasing the proportion of tax sharing encourages local governments to engage in tax competition and fiscal expenditure competition. In addition, tax competition has a negative impact on market integration, while fiscal expenditure competition has a positive effect. Further analysis indicates that an increase in the proportion of tax sharing will contribute to achieving common prosperity in the process of building a unified national market. Therefore, the governments should reform the performance evaluation system and standardize local governmental behaviors in tax competition, accelerate the transformation of government functions, establish a rule of law approach to government governance and a service government, and introduce such policy recommendations as improving the tax sharing system and optimizing fiscal incentive mechanisms.
- tax sharing,
- fiscal incentives,
- tax competition,
- fiscal expenditure competition,
- market integration,
- unified national market

FullText(HTML)

References(43)

References

[1]	刘志彪, 孔令池. 从分割走向整合: 推进国内统一大市场建设的阻力与对策[J]. 中国工业经济, 2021(8): 20-36. https://www.cnki.com.cn/Article/CJFDTOTAL-GGYY202108003.htm
[2]	范子英, 周小昶. 财政激励、市场一体化与企业跨地区投资——基于所得税分享改革的研究[J]. 中国工业经济, 2022(2): 118-136. https://www.cnki.com.cn/Article/CJFDTOTAL-GGYY202202006.htm
[3]	吕冰洋. 财政体制改革与统一大市场建设[N]. 中国社会科学报, 2023-07-20(007).
[4]	刘瑞明. 构建全国统一大市场的四个经验教训[J]. 产业经济评论, 2022(5): 10-12. https://www.cnki.com.cn/Article/CJFDTOTAL-XDCH202205002.htm
[5]	LI HAN, JAMES KAI-SING KUNG. Fiscal incentives and policy choices of local governments: evidence from China[J]. Journal of Development Economics, 2015, 116(13): 89-104.
[6]	席鹏辉, 梁若冰, 谢贞发. 税收分成调整、财政压力与工业污染[J]. 世界经济, 2017(10): 170-192. https://www.cnki.com.cn/Article/CJFDTOTAL-SJJJ201710009.htm
[7]	席鹏辉, 梁若冰, 谢贞发, 等. 财政压力、产能过剩与供给侧改革[J]. 经济研究, 2017(9): 86-102. https://www.cnki.com.cn/Article/CJFDTOTAL-JJYJ201709008.htm
[8]	谢贞发, 朱恺容, 李培. 税收分成、财政激励与城市土地配置[J]. 经济研究, 2019(10): 57-73. https://www.cnki.com.cn/Article/CJFDTOTAL-JJYJ201910005.htm
[9]	吕冰洋, 马光荣, 毛捷. 分税与税率: 从政府到企业[J]. 经济研究, 2016(7): 13-28. https://www.cnki.com.cn/Article/CJFDTOTAL-JJYJ201607003.htm
[10]	代志新, 程鹏, 高宏宇. 税收竞争、分成激励与政府偏好——兼论均等化转移支付的作用[J]. 经济理论与经济管理, 2023(2): 78-94. https://www.cnki.com.cn/Article/CJFDTOTAL-JJLL202302006.htm
[11]	李建军, 吴懿. 税收分成、财政激励与制造业企业活力——来自"增值税分成"改革的证据[J]. 财贸经济, 2021(9): 5-19. https://www.cnki.com.cn/Article/CJFDTOTAL-CMJJ202109001.htm
[12]	詹新宇, 刘文彬. 税收分成对经济增长目标管理的激励效应[J]. 税务研究, 2021(4): 128-133. https://www.cnki.com.cn/Article/CJFDTOTAL-SWXH202104021.htm
[13]	许敬轩, 王小龙. 市县级分成率波动与企业税收征管[J]. 经济研究, 2022(11): 138-156. https://www.cnki.com.cn/Article/CJFDTOTAL-JJYJ202211008.htm
[14]	吕冰洋, 陈怡心. 财政激励制与晋升锦标赛: 增长动力的制度之辩[J]. 财贸经济, 2022(6): 25-47. https://www.cnki.com.cn/Article/CJFDTOTAL-CMJJ202206002.htm
[15]	彭飞, 蔡靖, 吴华清. 增值税分成、财政激励与城市经济发展不平衡——内在机制与经验证据[J]. 数量经济技术经济研究, 2023(3): 70-90. https://www.cnki.com.cn/Article/CJFDTOTAL-SLJY202303004.htm
[16]	刘穷志. 税收竞争、资本外流与投资环境改善——经济增长与收入公平分配并行路径研究[J]. 经济研究, 2017(3): 61-75. https://www.cnki.com.cn/Article/CJFDTOTAL-JJYJ201703006.htm
[17]	王凤荣, 苗妙. 税收竞争、区域环境与资本跨区流动——基于企业异地并购视角的实证研究[J]. 经济研究, 2015(2): 16-30. https://www.cnki.com.cn/Article/CJFDTOTAL-JJYJ201502003.htm
[18]	傅强, 朱浩. 基于公共偏好理论的激励机制研究——兼顾横向公平偏好和纵向公平偏好[J]. 管理工程学报, 2014(3): 190-195. https://www.cnki.com.cn/Article/CJFDTOTAL-GLGU201403024.htm
[19]	马海涛, 孟晓雨. 促进全国统一大市场建设的税收优化路径研究[J]. 税务研究, 2022(8): 5-12. https://www.cnki.com.cn/Article/CJFDTOTAL-SWXH202208001.htm
[20]	范子英. 全国统一大市场建设的财政激励[J]. 产业经济评论, 2022(5): 14-17. https://www.cnki.com.cn/Article/CJFDTOTAL-XDCH202205004.htm
[21]	肖叶. 财政支出竞争、城投债发行与城市经济增长——基于财政支出压力视角[J]. 中南财经政法大学学报, 2019(3): 64-75, 159. https://www.cnki.com.cn/Article/CJFDTOTAL-ZLCJ201903007.htm
[22]	徐现祥, 王贤彬. 晋升激励与经济增长: 来自中国省级官员的证据[J]. 世界经济, 2010(2): 15-36. https://www.cnki.com.cn/Article/CJFDTOTAL-SJJJ201002001.htm
[23]	张其富, 吴泽斌. 全国统一大市场的测度及长期演变[J]. 经济与管理, 2023(6): 50-58. https://www.cnki.com.cn/Article/CJFDTOTAL-JJGL202306006.htm
[24]	范欣, 宋冬林, 赵新宇. 基础设施建设打破了国内市场分割吗?[J]. 经济研究, 2017(2): 20-34. https://www.cnki.com.cn/Article/CJFDTOTAL-JJYJ201702003.htm
[25]	郭庆旺. 减税降费的潜在财政影响与风险防范[J]. 管理世界, 2019(6): 1-10, 194. https://www.cnki.com.cn/Article/CJFDTOTAL-GLSJ201906003.htm
[26]	储德银, 迟淑娴, 刘俸奇. 地方政府税收竞争助推了经济发展不平衡吗——基于劳动力流动的视角[J]. 经济学动态, 2023(11): 51-71. https://www.cnki.com.cn/Article/CJFDTOTAL-JJXD202311004.htm
[27]	田彬彬, 王俊杰, 邢思敏. 税收竞争、企业税负与企业绩效——来自断点回归的证据[J]. 华中科技大学学报(社会科学版), 2017(5): 127-137. https://www.cnki.com.cn/Article/CJFDTOTAL-HZLS201705023.htm
[28]	QIAN Y, WEINGAST R. China's transition to markets: market-preserving federalism, Chinese style[J]. The Journal of Policy Reform, 1996, 1(2): 149-185. doi: 10.1080/13841289608523361
[29]	QIAN Y, WEINGAST R. Federalism as a commitment to preserving market incentives[J]. Journal of Economic Perspectives, 1997, 11(4): 83-92. doi: 10.1257/jep.11.4.83
[30]	刘冲, 吴群锋, 刘青. 交通基础设施、市场可达性与企业生产率——基于竞争和资源配置的视角[J]. 经济研究, 2020(7): 140-158. https://www.cnki.com.cn/Article/CJFDTOTAL-JJYJ202007011.htm
[31]	尹西明, 陈泰伦, 金珺, 等. 数字基础设施如何促进区域高质量发展: 基于中国279个地级市的实证研究[J]. 中国软科学, 2023(12): 90-101. https://www.cnki.com.cn/Article/CJFDTOTAL-ZGRK202312009.htm
[32]	王志刚, 黎恩银. 政府基建支出如何兼顾稳增长与调结构——基于生产网络的视角[J]. 经济学动态, 2022(8): 25-44. https://www.cnki.com.cn/Article/CJFDTOTAL-JJXD202208003.htm
[33]	蔡新民, 刘金全, 方毅. 我国交通基础设施建设对经济增长的影响研究[J]. 经济纵横, 2017(4): 70-76. https://www.cnki.com.cn/Article/CJFDTOTAL-JJZH201704010.htm
[34]	CHEN S X. Effect of fiscal squeeze on tax enforcement: evidence from a natural experiment in China[J]. Journal of Public Economics, 2017(1): 62-76.
[35]	吕冰洋, 贺颖. 迈向统一市场: 基于城市数据对中国商品市场分割的测算与分析[J]. 经济理论与经济管理, 2020(4): 13-25. https://www.cnki.com.cn/Article/CJFDTOTAL-JJLL202004003.htm
[36]	PARSLET D C, WEI S J. Convergence to the law of one price without trade barriers or currency fluctuations[J]. Quarterly Journal of Economics, 1996, 111(4): 1211-1236. doi: 10.2307/2946713
[37]	吕冰洋, 贺颖. 分权、分税与市场分割[J]. 北京大学学报(哲学社会科学版), 2019(3): 54-66. https://www.cnki.com.cn/Article/CJFDTOTAL-BDZK201903008.htm
[38]	毛其淋, 盛斌. 对外经济开放、区域市场整合与全要素生产率[J]. 经济学(季刊), 2012(1): 181-210. https://www.cnki.com.cn/Article/CJFDTOTAL-JJXU201201012.htm
[39]	魏下海, 董志强, 金钊. 腐败与企业生命力: 寻租和抽租影响开工率的经验研究[J]. 世界经济, 2015(1): 105-125. https://www.cnki.com.cn/Article/CJFDTOTAL-SJJJ201501006.htm
[40]	DUAN Y, El GHOUL S, GUEDHAMI O, et al. Bank systemic risk around COVID-19: a cross-country analysis[J]. Journal of Banking & Finance, 2021, 133(9): 1-53.
[41]	GRIFFIN D, GUEDHAMI O, LI K, et al. National culture and the value implications of corporate environmental and social performance[J]. Journal of Corporate Finance, 2021, 71(9): 102-123.
[42]	郭凯明, 王藤桥. 基础设施投资对产业结构转型和生产率提高的影响[J]. 世界经济, 2019(11): 51-73. https://www.cnki.com.cn/Article/CJFDTOTAL-SJJJ201911004.htm
[43]	习近平. 扎实推动共同富裕[J]. 求是, 2021(20): 4-8. https://xuewen.cnki.net/CCND-JHRB20240612A013.html