지방재정 신속집행의 지역경제성장에 대한 영향의 조절효과 분석

초록

The main purpose of this study is to analyze whether the maximization of the effect of regional economic growth has actually occurred through the early execution of local finance through the rapid local financial execution system. This study attempted to verify the moderating effect of expedited fiscal execution in the relationship that fiscal expenditure generally affects regional economic growth. To this end, a static panel model was employed through a fixed-effect model using panel data in which the time series and cross-sections were combined from 2010 to 2016, and a dynamic panel model analysis was performed through the system GMM model. In addition, as suggested by McDonald & Miller (2010), we tried to verify the actual regional economic effect of fiscal execution by including variables related to fiscal expenditure applying time lag in the model. The same research results were obtained from both the fixed-effect model and the system GMM model. It was found that local fiscal expenditure had a positive effect on regional economic growth, and the rapid execution of local finance was functioning negatively as a moderating effect, so that it weakened the positive relationship between local fiscal expenditure and regional economic growth.

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