关键词: 土地财政 , 财政激励 , 资本化 , 地方政府行为

Abstract:

Under the background of China s urbanization, applying the theory of public goods capitalization, this paper analyzes how the local land finance institution, including the land grant revenue institution and the related real estate tax institution, incentives the local public goods provision. Empirical analysis of city level data shows the land finances structural incentive effect on local public goods provision, but owing to the incentive mechanism based on land and real estate transactions, local governments fiscal effort is dissevered entirely by the trading point. Reforming the land finance system, and improving the tax system of real estate, with the purpose of land value capture system transformation from transactional style to assetkeeping style, will help to establish a symmetrical, sustainable local fiscal incentive system.

Key words: land finance , fiscal incentive , capitalization , local government s behavior