WU Junpei,GONG Min：Study on Transparency of General Public Budget System

Abstract：The core of public budget transparency is to make public choice in white box, which should be guaranteed by system.Therefore, the key is the system transparency of public budget.The basic characteristics of public budget system transparency contain hard budget constraint, public budget neutrality and budget information publication.This is different from present research angle of relevant studies, which focus on budget information transparency.This paper argues the system of public budget transparency and analyzes the situation of China's public budget transparency under current fiscal system.The empirical test shows that the low level of public budget transparency in China aggravates fluctuation of market individuals' consumption and investment behavior, and harms the stable development of China's market economy.The conclusion provides empirical support for constructing transparent public budget system in China.

Key words： Public Budget Transparency    Budget System Transparency    Hard Budget Constraint    Budget Information Publication

source:Finance & Trade Economics ,No.9,2015