中文摘要：

地方政府财政支出相对中央政府对居民消费影响更加直接。本文在对传统消费效用模型拓展的基础上,研究了地方政府投资性支出结构对居民消费水平的影响效应。主要结论：第一,地方政府投资性支出结构对居民消费产生的效应存在差异性,经济建设支出对居民消费产生挤出效应,而社会公共福利支出则表现出显著的挤入效应;第二,地方政府投资性支出对居民消费挤入挤出效应程度表现出显著的城乡差异性,社会公共福利和经济建设支出分别对城镇居民消费的挤入和挤出效应均大于农村居民;第三,农村居民习惯形成因素对当期消费的影响大于城镇居民,此种消费习惯差异加剧了政府支出效应的城乡差异性;第四,居民消费习惯因素削弱了地方政府支出的挤入挤出效应,总体上阻碍了政府通过扩大支出来刺激居民消费的实际效果。

英文摘要：

The effect of local government expenditure on the residents＇ consumption is much more direct compared with that of the central government.This paper studies the effect of local government＇s investment expenditure structure on residents＇ consumption based on the expanded traditional utility model.The result shows that： Firstly,there exists a distinct structural effect of local government＇s investment on residents＇ consumption： the economic construction expenditure crowds out residents＇ consumption while public welfare expenditure crowds in;Secondly,the impact of the local government investment on residents＇ consumption is characterized by significant differences between urban residents and rural ones： the effect of the former is larger than that of the latter;Thirdly,the effect of residents＇ consumption habit on rural residents＇ current consumption is greater than that of the urban ones,which exacerbate the structural difference between the urban and rural ones caused by the effects of the government investment on their consumption;and finally,their consumption habit impairs the impact of government investment expenditure,which has been preventing the local government to stimulate residents＇ consumption by expanding their domestic demand.