先前之研究發現我國政府預算執行，集中於年度終了時之現象屢見不鮮。本研究以中央政府各機關為對象，從預算的執行面來探討中央政府預算執行效率，並對半年結算政策之實施進一步分析，以瞭解此政策是否改變執行效率，且探討執行效率對下一年度之預算編列，有無管理上的回饋效果；同時探討政府支出結構分類中經常支出與資本支出間是否具有因果關係，最後，探討影響預算執行效率之因素。
實證結果顯示，半年結算政策的實施，雖對第二季之預算執行具有影響性，促使中央政府各機關上半年度預算執行率提高，但卻未能完全改變預算支用延遲至第四季執行的習性，而在執行績效之回饋效果上並不存在；另當年度資本支出規模與當年度經常支出規模及次年度經常支出規模間具有正向關係，且歲出預算執行率會透過資本支出規模進一步影響經常支出規模，顯示政府預算之決策須審慎考量資本支出對經常支出的影響程度，以提高公共支出對經濟發展的貢獻程度；至於影響預算執行因素，本研究顯示季別、半年結算政策、前年同期預算執行率對歲出預算執行效率具影響性。 Previous studies revealed that the operating of budget usually proceeded at the end of the fiscal year in Taiwan’s administration. The purpose of this study was to examine the change of operating efficiency from both the execution performance of each organization of central government and from the implementation of semi-annual closing policy of central government. Meanwhile, the relationships between current operating and capital investment for the governmental structure of expenditure were investigated. In addition, we also analyzed the existence of the feedback effect in management of budget preparation in the next year due to the operating efficiency. Further, determinants of the operating efficiency was examined. The results showed an effect of the implementation of semi-annual closing on the operating in the second season and caused an increasing of the rate of operating of central government in the first half year. However, that effect did not completely change the original delay of budget execution until the fourth season and had no feedback effect on the operating efficiency either. In the budget expenditure, the relationship show a positive relationship between the scale of capital investment for this year and scales of current operating for both this year and the next year. Also operating efficiency will influence the scales of current operating by the scale of capital investment. The findings suggest that the decision-making of governmental budget should consider the effect of current operating expenditure on capital investment expenditure to increase the contribution of public disbursement for the economical development. The determinants of the operating efficiency indicated in this study discover factors include seasons, the semi-annual closing policy, the same time execution rate of the current year and last one.
