中文摘要：

在对土地财政相关文献归纳总结的基础上,结合国内现行的土地租税费制度,提出土地财政构成的概念性框架,并在此框架下,对全国、区域和省级三个层面的土地财政规模进行再估算。估算结果表明,一方面,土地出让金是土地财政收入中最主要的构成部分及最重要的来源,但并不是全部,研究时不应简单地以土地出让金作为土地财政的唯一代表,而应根据研究目的作出具体判断;另一方面,目前各地对土地财政均存在较高程度的依赖。需警惕的是,房地产价格波动等因素可能会通过影响土地财政收入进而引发地方政府的财政风险和债务风险。因此,政府须采取相应措施防范土地财政所隐藏的风险。

英文摘要：

By reviewing the literature on land finance, this paper presents a conceptual framework of land finance, which considering the existing system of the rent, tax and fee in China. Based on this frame-work ,we re - estimate the size of land finance in the national, regional and provincial levels. The estimation results show that, on the one hand, the land - transferring fee is the most important component and driver in land financial revenue, but it cannot stand for the whole of land finance. Therefore, when studying on land fi-nance issue, it may be unsuitable to take land - transferring fee as the single proxy variable for land finance. On the other hand, there is a high degree of dependence on land finance across the local governments in Chi-na. It is of great concern that the fluctuation of real estate prices may affect land financial revenues, and result in the financial risk and debt risk of local governments. Therefore, the government should take some measures to prevent the latent risks of land finance.