文章利用1952~2006年的中国财政收支总额(包含预算外收支)的时间序列数据,实证分析我国财政收支行为对宏观经济的稳定效应。文章的实证结果表明,我国财政收支与GDP互为Granger因果关系,在长期内我国财政收支行为对宏观经济的稳定起到了积极作用;在短期内当经济处于衰退阶段时,财政收支行为有利于宏观经济稳定,但是当经济处于繁荣阶段时,加剧了宏观经济波动。 Using the time series data of total fiscal revenues and expenditures (including extra-budgetary revenues and expenditures) in China from 1952 to 2006, this paper empirically analyzes the stabilizing effect of fiscal revenue and expenditure on the macro-economy in China. The empirical results show that China’s fiscal revenue and GDP are mutually Granger causality, and in the long run, China’s fiscal revenue and expenditure have played a positive role in macroeconomic stability. In the short term, when the economy is in a recession, the fiscal revenue and expenditure It is conducive to macroeconomic stability, but aggravates macroeconomic fluctuations when the economy is in its boom phase.