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재정분권과 중앙정부의 이전지출이 지방재정 적자에 미치는 영향: 재정분권의 재정적자 억제 효과를 중심으로

The Effects of Fiscal Decentralization and Transfer Expenditure on Local Government Deficit: Focusing on the Deficit-suppressing Effect of Fiscal Decentralization

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주제분류행정학

초록

본 연구는 재정분권과 중앙정부의 이전지출이 지방재정 적자에 미치는 영향을 동적패널모형을 적용하여 분석하였다. 연성예산제약 이론, Tiebout 가설, Oates의 분권화 이론 등을 반영하여 재정분권과 이전지출이 지방재정 적자에 미치는 영향을 분석하였으며, 재정분권과 이전지출의 상호작용항을 고려한 모형을 포함하였다. OECD 국가들을 대상으로 분석한 결과, 재정분권은 지방재정 적자를 유의미하게 감소시키는 반면, 중앙정부의 이전지출은 지방재정 적자를 유의미하게 증가시키고 있다. 또한 재정분권은 중앙정부의 이전지출이 재정적자를 증가시키는 것을 억제하는 효과가 있는 것으로 분석되었다. 본 연구는 중앙정부의 이전지출에 의해 지방재정 적자가 증가하는 효과를 억제할 수 있는 대안 중의 하나로 ‘재정분권’을 제시하였다는 점에서 의미가 있다. 정리하면, 본 논문은 연성예산제약, 수직적 불균형, 그리고 지방정부의 재정적 취약성 하에서 발생하는 지방재정 적자를 억제하기 위해 재정분권을 강화하려는 노력이 정책적 대안이 될 수 있음을 제시하였다.

Abstract

This study analyzed the effects of fiscal decentralization and central government transfer expenditures on local government deficit using a dynamic panel model. The impact of fiscal decentralization and transfer expenditures on local fiscal deficit was analyzed by reflecting the soft budget constraint theory, Tiebout hypothesis, and Oates' decentralization theory, and a model considering the interaction term between fiscal decentralization and transfer expenditures was included. The results of the analysis targeting OECD countries showed that fiscal decentralization significantly reduces local government deficit, while central government transfer expenditures significantly increase local government deficit. In addition, fiscal decentralization has the effect of suppressing the deficit increase effect of transfer expenditures. This study is meaningful in that it presents 'fiscal decentralization' as one of the alternatives that can suppress the effect of central government transfer expenditures on increasing local fiscal deficits.

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