我国通过发债扩大财政支出是否会产生财政挤出效应，这是需要澄清的重大问题。
It still remains to be seen whether China will produce the effect of fiscal squeeze by issuing national debt to enlarge fiscal expenditure.
本文主要介绍新古典宏观经济学和新凯恩斯主义对财政赤字挤出效应研究的最新进展。
This paper mainly introduces the latest development about crowding-out effect of fiscal deficit which was put forward by New-Classical Macroeconomics and New Keynesianism.
但对私营企业、特别是私营高科技企业，财政补贴只有挤入效应、没有挤出效应。
There is only crowding-in but no crowding-out effect for privately-owned firms, especially high-tech privately firms.
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