关键词: 土地财政, 公共品供给, 官员特征

Abstract: Local public goods can serve as important guarantee to promote regional economic growth and the welfare of residents.However,the supply of non-economic public goods,such as education and medical care,is insufficient compared with that of fast-growing economic public goods,such as infrastructure in China.The bias on economic factors will have a lasting negative impact on economic and social developments.It will result in the inadequate supply of people's livelihood and affect residents' happiness index,and in the meanwhile,lead to a higher deposit rate and lower consumption rate,which is unconducive for consumption upgrading and economic restructuring.The mainstream viewpoint among researchers is that land-based finance,as the main source of urban construction funds,is the prominent cause of imbalanced structure of public goods supply.However,the comprehensive logical analysis reveals that the incentive mechanism is the most fundamental cause of the government behavior that causes this imbalance.Thus,it is of great significance to discuss the impact of land-based finance under different promotion incentives.Based on the above assertion,this paper held an empirical analysis on the panel data of prefecture-level cities in 2004-2013 and examined the impact of various features of officials,such as age,education,tenure and hometown.The study finds that land-based finance has a significant positive effect on the economic public goods supply and has a constraining effect or no effect on non-economic public goods supply.The influence of land-based finance on public goods supply varies with different features of local officials.The influence is more significant in the districts where local officials with younger age,shorter tenure,higher education degree,birthplace in the governing province and stronger expectation of promotion.It can be concluded that restructuring incentives of local officials are crucial for optimizing the supply structure.The emphasis of China's economy has shifted from high-speed growth to high-quality development,and the focus of assessment should be correspondently shifted from economic growth to the people's livelihood.

Key words: land-based finance, public goods supply, features of officials