MA Jun：Different Approaches to Public Finance and the Respective Methodology in Economics

Abstract：This paper introduces the development history of public finance as a discipline in the western world. Two major approaches to public finance research, the allocative approach and the catallactical approach, and their respective evolution, characteristics, methodology and concept of state are analyzed in detail. Then three kinds of public finance derived from above two approaches are briefly described. It is claimed that the pursuit of theoretical innovation within the allocative approach is important to public finance research, but beyond this approach putting forward a new critical understanding of properties and development direction of public finance, is also worth attention.

Key words： Public Finance Theory    Allocative Approach to Public Finance    Catallactical Approach to Public Finance   Governance

source:Finance & Trade Economics ,No.7,2015