国家财政政策与民营企业发展研究

【作者】 王山；

【导师】 李兴山；

【作者基本信息】 中共中央党校 ， 政治经济学， 2010， 博士

【副题名】以我国两次应对金融危机冲击为例

【摘要】 改革开放以来,以中小企业为主体的民营企业获得了前所未有的发展机遇。引起民营企业快速发展的原因是多方面的,除有产权清晰、国有企业战略结构调整、劳动力成本优势等方面原因外,还有国家经济政策对民营企业支持的原因。民营企业发展和国家经济政策对其支持是正相关的。国家经济政策支持民营企业发展力度越大,民营企业发展就越快;国家经济政策不利于民营企业发展,则民营企业发展就越慢。国家财政政策体现国家意志,是国家经济政策的重要组成部分,它对民营企业发展支持程度如何,直接影响民营企业的生存和发展。耗散结构是一种动态稳定有序结构,民营企业保持耗散结构意味着它能够可持续发展,这要求民营企业自身要满足保持耗散结构的四个条件:开放性、非线性、巨涨落以及远离平衡状态。相对国有企业来讲,有强烈经济利益动机和市场化程度比较高的民营企业,具有保持耗散结构的有利条件。但我国民营企业的耗散结构也存在脆弱性的一面。这种脆弱的耗散结构使我国民营企业可持续发展能力不强。特别是在金融危机冲击下,民营企业融资问题和产品实现问题制约了民营企业的开放性,同时本身就不强的非线性、不明显的涨落和不充分远离平衡状态,使民营企业易受金融危机冲击。金融危机时期,民营企业保持耗散结构除了自身努力外,国家也应该发挥“有形之手”的作用,通过制定经济政策,尤其是财政政策为民营企业保持耗散结构创造外在条件。民营企业绝大部分属于中小企业,财政对中小企业支持是公共财政政策的一个重要表现,国家财政政策支持民营企业发展有着充分的理论依据。国家财政政策制定主体的角色、价值取向、功能等问题,是财政政策的基本理论问题,这些基本理论问题是国家财政政策支持民营企业的理论依据。国家财政政策制定主体的“拐杖”和“避难所”作用,为财政政策支持民营企业发展提供了依据。国家财政政策的公共利益价值取向,也为支持民营企业,特别是民营中小企业提供了理论支持;国家财政政策的资源配置、经济稳定、再分配等功能也足以为国家财政政策支持民营企业发展提供理论支撑。此外,科学发展观也要求国家财政政策支持民营企业发展。财政政策类型和工具的选择主要依据以下因素:经济因素、社会因素和自然习俗因素、以及财政可承受的压力等。金融危机背景下,在满足一定条件下,积极财政政策是有效的。国家财政政策主要通过改变支出和收入的方式来支持民营企业发展。它通过扩大对民营企业资金支出或者调整其支出结构,来增加民营企业的收益或者是引导民营企业的经营行为;它通过改变民营企业的税收总量和税收结构,来减轻民营企业负担或者是引导民营企业的经营行为。国家财政政策可通过以下四种途径对民营企业发生作用。即:与民营企业建立交换关系、支持有利于民营企业发展的中介组织、调控民营企业外在环境、直接财政资金支持。在具体的政策操作过程中,具体选择哪种方式、哪种途径要根据财政政策支持民营企业的种类、政策操作的难易程度等来确定。国家财政政策是否有效,历来是个争议的话题,经济学理论都是解决当时特定的问题提出的,财政政策有效性与所处的经济背景有关。积极财政政策确实会产生“挤出效应”,也就是,扩张财政政策通过乘数效应带来经济增长的同时,也会因利率的增加,对民营企业投资产生抑制效应。实证分析表明,我国财政政策对民营企业虽存在一定的“挤出效应”,但并不明显。也就是我国积极财政政策在为宏观经济创造良好环境的同时,并没有对民营企业产生太大的“挤出效应”。在金融危机背景下,边际消费倾向、投资对利率敏感度、货币需求对收入敏感度等会出现减小趋势,货币需求对利率的敏感度具有增大趋势,这些将会使财政政策的“挤出效应”变小。同时,迄今为止,我国没有发生真正的金融危机,在这种情况下,金融危机时期边际进口倾向是增加的。这些因素使我国在外部金融危机背景下,国家财政政策对民营企业的“挤出效应”变得更小。在金融危机背景下,规模不同的民营企业对国家财政政策的需求是不同的,上市民营企业追求“负债最小化”,中小民营企业追求“利润最大化”,这为财政政策支持民营企业发展提供了不同的要求。身处经济全球化的中国,国外金融危机会通过国际贸易、国际金融、国际生产等途径影响我国,制定财政政策帮助企业应对金融危机是政府必需的选择。始于1997年的亚洲金融危机时期和始于2008年的国际金融危机以来,我国均实施了积极财政政策。我国成功应对亚洲金融危机原因除了实施以积极财政政策为特点的宏观经济政策外,还与那一时期民营企业快速发展有关。国际金融危机时期,积极财政政策的实施和民营企业的发展同样对应对危机有着重要决定作用。两次金融危机时期,国家财政政策和民营企业存在一定相关性。与亚洲金融危机时期相比,国际金融危机以来,我国积极财政政策和民营企业相关性较大,但由于民营企业发展背景和地位的改变,国际金融危机以来支持民营企业发展的财政政策仍然存在不足。今后国家财政政策要更多向民营企业倾斜。在实施积极财政政策的同时,要落实好发展非公有制经济的有关政策。由于民营企业绝大部分属于中小企业,国家财政政策对民营企业支持重点体现在对中小企业的支持上。要在财政预算中加大对中小企业(中小企业绝大部分是民营企业)的财政支持,发行中小企业特别国债为中小企业筹集公共资金,充分发挥财政税收对中小企业融资支持,重点支持劳动密集性、中小型企业,引导民营企业转型升级,增强可持续发展能力。本文共有六个部分,分别为导言部分和主体部分,主体部分分五章。导言部分,分别就选题背景意义、研究现状、研究思路、研究方法和创新之处等五个方面进行分析。第一章,考察国家经济政策与民营企业发展之间关系,从经济发展史和耗散结构理论的角度,试图说明国家经济政策是民营企业发展一个内生变量,为分析国家财政政策支持民营企业发展奠定基础。第二章,从理论的角度考察国家财政政策支持民营企业发展的依据和政策选择,目的是分析国家财政政策为什么以及如何支持民营企业。第三章,考察国家财政政策对民营企业发展的效应,重点分析国家财政政策对民营企业的“挤出效应”,试图说明我国财政政策对民营企业“挤出效应”不大;并以应对金融危机为例,从IS-LM曲线理论角度和资产负债表理论角度,分析金融危机下国家财政政策对民营企业的效应;第四章和第五章,分别考察亚洲金融危机时期和国际金融危机以来,我国积极财政政策与民营企业相关性,说明两次金融危机背景下,特别是此次国际金融危机以来,积极财政政策为民营企业发展提供一定发展机会,但现行国家财政政策对以中小企业为主体的民营企业支持仍然存在不足,并对此提出政策思路。更多还原

【Abstract】 Since the reform and opening up, private enterprises that mainly are SMEs(small and medium enterprises), have gained unprecedented opportunities for development. There are many reasons leading to the rapid development of private enterprises. In addition to clear property rights, strategic adjustment of state-owned enterprises, the labor cost advantage, national economic policy on private enterprises is one of the major reasons for the rapid growth. The development of private enterprises is positively related to national economic policy. The greater national economic policy supports, the faster private enterprises might grow. When national economic policy is not positive to the development of private enterprises, the development of private enterprises would slow down. National fiscal policy reflects the national will, and it is an important component of economic policy. The degree of its supporting to private enterprises, directly affects the survival and development of private enterprises.A dissipative structure is a kind of dynamic, stable and orderly structure. Private enterprises maintaining a dissipative structure means they can develop sustainably. This will require private enterprises to meet the four conditions of dissipative structure: opening, nonlinear, the giant fluctuation and far-from equilibrium state. Compared with the state-owned enterprises, with a strong motivation for the economic interests and a relatively high degree of market orientation, private enterprises have better conditions to maintain the dissipative structure. However, there are also aspects of vulnerability in the dissipative structure of private enterprises in China. This vulnerable dissipative structure means that the ability of sustainable development of private enterprises in China is not robust. Particularly under the impact of the financial crisis, the financing of private enterprises and product realization have restricted the opening of private enterprises. At the same time, without the features of a strong nonlinear state, an obvious fluctuation and far-from equilibrium, private enterprises would be vulnerable to financial crisis. In times of financial crisis, to maintain a dissipative structure of private enterprises not only requires their own efforts, but also need the state to play a role of "visible hand". Through the formulation of economic policy, especially fiscal policy, state creates external conditions for private enterprises to maintain a dissipative structure.Most private enterprises in China are SMEs. Financial support for SME is an important aspect of public fiscal policy. There are sufficient theoretical bases for national fiscal policy to support development of private enterprises. Subject to the measures of fiscal policy, values, functions and so on, are the basic theories of fiscal policy. These are basic theories that the state fiscal policy support private enterprise. The national financial policy-making, as a "cane" and a "refuge”, provides the basis for fiscal policy to support the development of private enterprises. Public interest-oriented values of national fiscal policy, provides a theoretical support to private enterprises, especially for private SMEs. The roles of state fiscal policy in allocating resources, maintaining economic stability, redistribution and other functions are enough for the state fiscal policy to support development of private enterprises. In addition, the Scientific Outlook on Development also requires the national fiscal policy to support development of private enterprises.The types and instruments of fiscal policy are influenced by many factors: economic factor, social factor, natural custom factor, and financial factor. In the context of the financial crisis, if certain conditions are met, the proactive fiscal policy is effective. It mainly through the changing in expenditure and income, which could support the development of private enterprises. By expanding the spending in private enterprise or adjusting the structure of expenditures, fiscal policy may increase the income of private enterprises or guide their conduct. By changing the total amount of revenue and tax structure, it may relieve the burden on private enterprises or guides their conduct. State fiscal policy can affect private enterprise by following four ways: to establish exchanging relationship with the private enterprises, to support the development of intermediary organizations that are conducive to private enterprises, to control the external environment, and to allocate the financial funding. In the process of specific policy operation, specifical choice is in line with types of private enterprises and the difficulty of operation.Effectiveness of national fiscal policy has always been a controversial topic. Economic theories are all byproducts of solving a specific problem. The effectiveness of fiscal policy is related to the economic background. Active fiscal policy does have a "crowding out" effect. That is, expansionary fiscal policy leads to economic growth through the multiplier, but it would also increase interest rates, which might inhibit the investment of private enterprises. Empirical analysis shows that though there is some "crowding out" of china’s fiscal policy, but "crowding out" is not obvious. That is, the proactive fiscal policy creates a favorable macroeconomic environment for our country and does not generate significant "crowding-out effect". In the context of the financial crisis, marginal propensity to consume, the sensitivity of investment to interest rate, the sensitivity of money demand to income have exhibited a decreasing mode, however, sensitivity of money demand to interest rate has appeared an increase trend. These will make the fiscal policy of "crowding out" effect slighter. At the same time, so far, there has been no real financial crisis in China. In this case, the marginal propensity to import during the financial crisis is increasing. These factors make“crowding out" effect still small during the financial crisis. In the context of the financial crisis, Private enterprises of different sizes are of different needs in national fiscal policy. The listed private enterprises seek to“minimize debt," while small and medium private enterprises pursue the aim of "profit maximization". All these need different requirements for fiscal policy to support private enterprises.Because of economic globalization, foreign financial crisis influences China mainly through international trade, international finance, and international production. It is a necessary choice of the government to help enterprises cope with the financial crisis through implementation of fiscal policy. In Asian financial crisis beginning in the 1997 and druing international financial crisis beginning in the 2008, China’s proactive fiscal policy was implemented. China successfully coping with the Asian financial crisis is not only attributed to the implementation of positive fiscal policy, but also to the rapid development of private enterprises. During the international financial crisis period, the implementation of the proactive fiscal policy and development of private enterprises are equally important decisive response to the crisis.In the two financial crises, there is some correlation between national fiscal policy and private enterprises. Compared with the Asian financial crisis period, in the international financial crisis, China’s proactive fiscal policy functions more to private enterprises. However, the changes in background and status of private enterprises reveal that previous fiscal policy to support development of private enterprises is still inadequate. To this end, national fiscal policy should be more inclined to the help of private enterprises. In the implementation of proactive fiscal policy, we must fulfill non-public economic policy. Since the vast majority of small and medium enterprises are private enterprises, national fiscal policy for supporting private enterprise is reflected in the aspect of supporting to SMEs. Budget should be increased in SMEs. Public funds can be raised for SMEs by issuing special bonds. Taxation should play an important role in financing support for SMEs. Fiscal policy should also pay attention to support labor-intensive, small and medium enterprises and guide private enterprises to upgrade and enhance sustainable development capacity.This article has six parts, namely, an introduction and the main parts, which are five chapters. In the introduction part, topics and historical context, current research situation, research ideas, methods and innovations of research are included. ChapterⅠis to study the relationship between the national economic policy and development of private enterprises. From the perspective of economic history and theory of dissipative structure, the author tries to explain that the national economic policy is an endogenous variable to the development of private enterprises, and then provides a basis for the analysis of national fiscal policy to the development of private enterprises. In chapter II, from a theoretical perspective, the author analyses why national fiscal policy support private enterprises, and how to. In chapter III, the author introduces the national fiscal policy effects on private enterprises development. and analyzing "crowding out" effect caused by national fiscal policy on private enterprises is focused on. The author tries to explain that“crowding out" effect on private enterprises from fiscal policy in China is small. And then, from the perspective of IS-LM curve and from the perspective of balance sheet, the author also analyzes effect of fiscal policy on private enterprises in the financial crisis. In Chapter IV and Chapter V, the relationship between China’s proactive fiscal policy and private enterprises is studied. In the context of the two financial crises, particularly since the international financial crisis, active fiscal policy has provided a development opportunity for the development of private enterprises.However,the current state fiscal policy for small and medium private enterprises is still insufficient, therefore suggestions and advices on policy will be put forward.更多还原