关键词: 积极财政政策, 全要素生产率, 财政透明度, 土地资源配置

Abstract: Against the backdrop of Chinas implementation of a more proactive fiscal policy,scientifically evaluating the effects of the proactive fiscal policy that China has implemented for many years holds significant theoretical and practical value.Unlike the common practice of calculating fiscal multipliers at the national and provincial government levels,this study focuses on the implementation practice of Chinas proactive fiscal policy decomposed to developmental local governments,and explores the possible impact of prefecture-level local governments implementation of proactive fiscal policy on exerting proactive fiscal effectiveness through the channel of total factor productivity(TFP).Based on the practice of proactive fiscal policy implemented by Chinas developmental governments,this study theoretically explores the effectiveness of Chinas economic and fiscal policies implemented at the local government level through TFP improvement and its influencing factors.Using a panel simultaneous equation model for empirical research,it is found that the effectiveness of proactive fiscal policy can be achieved by improving the TFP at the prefecture-level government and fiscal transparency enhances the effectiveness of proactive fiscal policy through both direct and indirect effects,while land allocation improves the effectiveness of proactive fiscal policy through a direct effect mechanism.This study not only supports the effectiveness of Chinas proactive fiscal policy from the TFP channel at the local government level,but also provides policy directions for the continued implementation of a more proactive fiscal policy.

Key words: proactive fiscal policy, total factor productivity, fiscal transparency, land resource allocation