随着94年分税制改革的实施,财权不断上移,事权不断下行。地方政府的财政收支压力越来越大。这也进一步加剧了“土地财政”、中央政策逆周期和地方政策顺周期的特征、企业过度投资以及经济性公共物品与非经济性公共物品供应不均衡等一系列问题。本文以上述地方政府财政问题为切入点,探讨其共同原因以及解决政策。 With the implementation of the reform of the tax-sharing system in 1994, the financial power is constantly on the move, and the power to keep going down. Local government revenue pressures are increasing. This has further exacerbated a series of issues such as the “land finance”, the countercyclical characteristics of the central policy and the pro-cyclical nature of local policies, over-investment in enterprises, and the unbalanced supply of public and public economic goods. In this paper, the local government financial issues as the starting point to explore their common causes and solutions to the policy.