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首页> 外文期刊>Frontiers of economics in China >How County-Level Agricultural Loans and Fiscal Expenditure Impact Rural Residents' Income in China-An Empirical Study of the Hierarchical Effect by Quantile Regression
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How County-Level Agricultural Loans and Fiscal Expenditure Impact Rural Residents' Income in China-An Empirical Study of the Hierarchical Effect by Quantile Regression

机译:县级农业贷款和财政支出如何影响中国农村居民的收入-分位数回归对分层效应的实证研究

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摘要

Using cross-sectional data from 853 counties in 11 western China provinces, we employ quantile regression (QR) and instrumental variable quantile regression (IVQR) to investigate the hierarchical effect of fiscal expenditure and agricultural loan on rural residents' income. We find: (1) the relationship between agricultural loan and income is consistent with the inverted U-shape (Kuznets curve); (2) the coefficient of quantile regression for rural residents' loan gradually decreases; particularly, the impact on the high-income group is insignificant (at 0.90 quantile); (3) for 0.10 and 0.50 quantile, the increase of fiscal expenditure would hinder rather than promote income growth; (4) the restraining effect becomes more pronounced for the lower groups; in contrast, there is a significant positive relationship between income and fiscal expenditure for 0.90 quantile's income group. Implications for government policy formulation are propounded accordingly.
机译:利用中国西部11个省853个县的横截面数据,我们采用分位数回归(QR)和工具变量分位数回归(IVQR)来研究财政支出和农业贷款对农村居民收入的分层影响。我们发现:(1)农业贷款与收入之间的关系与倒U形(Kuznets曲线)一致; (2)农村居民贷款分位数回归系数逐渐减小;特别是,对高收入人群的影响微不足道(在0.90分位数); (3)对于0.10和0.50分位数,财政支出的增加会阻碍而不是促进收入增长; (4)对下层人群的抑制作用更加明显;相反,对于0.90分位数的收入组,收入与财政支出之间存在显着的正相关关系。相应地提出了对政府政策制定的暗示。

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