財政規則之研究：新制度經濟學的觀點

The Study of Fiscal Rules：A Perspective of New Institutional Economics

許雅玲(YA-LING HSU)

指導教授 ： 蘇彩足

國立臺灣大學/社會科學院/政治學研究所/碩士(2014年)

https://doi.org/10.6342/NTU.2014.01467

摘要

2008年全球金融海嘯過後餘波震盪，各國財政風險升高，歐美債務危機一度讓全球經濟復甦蒙上陰影。國際機構已呼籲各國應正視財政問題，尤其人口老化將導致沉重的財政負擔，及早啟動中期財政調整計畫，方能確保財政永續。
財政規則在國際間普獲採行，是極受各國重視的預算管理工具，實證認為設計良好的財政規則，有助於矯正赤字及債務偏差。歷經全球金融海嘯衝擊，各國政府及國際機構已致力檢討並強化財政規則，使其對經濟或政治環境更有適應性，IMF將新財政規則泛稱為「第二代財政規則」。反觀我國中央政府同樣面臨新階段財政困難，各界對公共債務法、預算法等規範之財政規則亦迭有質疑，其適切性實值探究。
本文依循新制度經濟學的研究途徑，並透過跨國比較法、文獻分析法、次級資料法等3種研究方法，對中央政府財政規則進行整體性觀察與探索後，獲致：1.國際間使用財政規則情形益趨普遍，財政規則經適當設計能克服兩難問題，並以複合型財政規則為佳；2.年度預算平衡流於僵化，不切實際，概念已轉變為強調循環週期均衡；3.財政規則因全球金融風暴備受考驗，各國發展新規則重建信心，但第二代財政規則較為複雜，執行與監督更具挑戰性；4.我國近年常以個別法律排除財政規則之適用，法制面未臻完備，易生規避訾議；5.公共債務法之債限規定係為融資管制目的，非為界定政府債務之涵蓋範圍，各國財政規則設計與內涵因國情及個別管理需要而異等5項研究發現，並據以提出3項政策建議，藉由國際改革趨向汲取經驗，作為我國中央政府財政規則設計與執行之參考。

關鍵字

財政規則 ； 新制度經濟學 ； 公共債務 ； 債務剎車 ； 平衡預算 ； 財政永續

並列摘要

The aftermath of 2008 financial crisis is still remaining, and the European and American debt crisis has overshadowed the global economic recovery. International organizations have called on all countries to face fiscal problems. Especially the population aging will lead to the heavy fiscal burden. To ensure the fiscal sustainability, the medium-term fiscal adjustment plan should be initialed as early as possible.
The fiscal rules have been broadly adopted internationally as important budget management tools. There is fair evidence to support that well designed fiscal rules could be helpful to correct the deficit and debt bias. After the global financial tsunami, governments all over the world and international organizations have committed to review and strengthen the fiscal rules, to improve their adaptation capacity to economic or political environment. The new fiscal rules are called the next-generation fiscal rules by IMF. In our country, the central government is also confronting the new stage of fiscal difficulty. People do have certain doubt about the appropriateness of fiscal rules stipulated by the Public Debt Act and the Budget Act.
This thesis adopted the new institutional economics approach, through the Cross-Country Comparison, literature review and secondary research, to conduct the comprehensive observation and exploration of the central government fiscal rules. The results of this thesis are as the following. 1. The use of fiscal rules is getting common globally. The proper design of fiscal rules could solve the trade-off. And the multiple fiscal rules are better. 2. The balanced budget rules often leads to rigidity. It’s more practical to aim on cyclically balance. 3. The fiscal rules have faced serious tests during current global financial crisis. Worldwide countries developing new rules to restore confidence, but the next generation rules tend to be more complex, creating challenges for implementation and supervision. 4. In recent years, the government has released constraint of fiscal rules through respective laws. The defect of the legal system arouses controversy of circumventing rules. 5. The purpose of the debt limit of the Public Act is to impose constraints on fund raising but to define the scope of government debt. The design and characteristics of fiscal rules varies depending on conditions of countries and their respective management needs. This thesis provides policy recommendations for the design and implementation of fiscal rules by adopting the international experience of fiscal rule reform.

並列關鍵字

fiscal rules ； New Institutional Economics ； public debts ； debt brake ； balanced budget ； fiscal sustainability

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