About this paper

The mainstream school of public finance has been badly weakening in the powers of explanation and prediction. So，I am trying to build up a new public finance paradigm named neo-public finance ( NPF) theory to deal with those problems. In this paper，I take the relations between government and market as the hitting-point of the mainstream school of public finance and believe that the idea supposed the government is competing with the market in producing and delivering public goods and services based on the theory of market failure is the fatal flaw in the mainstream school of public finance. In this paper，I also redefine the market model and reorganize the relations between the government and the enterprise in the market. I do believe that this new paradigm has been opened up a new channel to build stronger power of the explanation and prediction for the theory of public finance. The paper introduces NPF as a new paradigm，including the reasons why NPF，theoretical sources and foundation of NPF，core concepts and some cases which illustrating the NPF paradigm works very well on explanation and prediction of the fiscal issues and policies. Key words: Neo-public finance Mainstream school of public finance Powers of explanation and prediction

Reference

Li Junsheng. Neo-public Finance: A Paradigm for Enhancing Explanatory and Predictive Power [J]. Journal of Central University of Finance and Economics, 2017(5): 3-11.