CAJ | 학술논문

财力与支出责任相匹配是完善财政体制的关键。本文综合考虑各地区税收收入、转移支付以及公共服务的提供成本，纠正了用实际财政支出评价支出责任时所面临的内生性问题，在此基础上构建了财力与支出责任的匹配度指标。使用中国县级面板数据分析了财政层级改革对财力与支出责任匹配度的影响。基于倾向得分匹配基础上的双重差分方法（DID—PSM）分析表明：“省直管县”财政改革提高了县级财力与支出责任匹配度的主要原因是减少了地级市对转移支付的截留，增加了县级转移支付的可达性；财政层级改革使县级财政匹配度平均提高了10．2个百分点；政策效应具有明显的持续性。
재력여지출책임상필배시완선재정체제적관건。본문종합고필각지구세수수입、전이지부이급공공복무적제공성본，규정료용실제재정지출평개지출책임시소면림적내생성문제，재차기출상구건료재력여지출책임적필배도지표。사용중국현급면판수거분석료재정층급개혁대재력여지출책임필배도적영향。기우경향득분필배기출상적쌍중차분방법（DID—PSM）분석표명：“성직관현”재정개혁제고료현급재력여지출책임필배도적주요원인시감소료지급시대전이지부적절류，증가료현급전이지부적가체성；재정층급개혁사현급재정필배도평균제고료10．2개백분점；정책효응구유명현적지속성。
Matching financial power and expenditure responsibility is the key to perfecting the fiscal system. This paper Considering the regional tax, transfer payment and the cost of public services, for the sake of the endogenous issues, which is caused by the relationship between expenditure and revenues. Then we construct matchkng degree index on the base of fiscal capacity and expenditure responsibilities. Based on the county - level panel data, this paper analyzes the effects of the ＂County Directly Administrated by Province＂ reform on the intergovernmental transfers and matching degree. With the method of the propensity score of double differences, it identifies the causality of the reform. Our findings are as follows ： the reform of the fiscal hierarchy has improved financial conditions mainly due to reducing the possibility of financial intercept, which makes the transfer payment from the higher level increase dramatically. The matching degree was increased by 10. 2 percentage points. Policy effect appears to be persistent.