自晚清傳統政治秩序崩壞以來，重建正當性一直是當代中國政治發展的核心議題。建國以來中國共產黨建構政治正當性的努力，先後經歷毛澤東時代民眾把自己的命運託付給「紅太陽」的前現代「克利斯瑪」(Charisma) 正當性，到鄧小平時代以證成性來建構政治正當性。但前者容易導致「人在政舉，人亡政息」的困境；而後者必須滿足兩個條件，即 (1) 國家為公民提供的福利要持續增長，(2) 分配正義，但這兩個條件在現代社會都是不確定的，從而導致「端起碗吃肉，放下筷子罵娘」的窘境。在現時代，走出上述窘境的根本在於建構現代政治正當性，實現中國政治的現代轉型。

Extra-budgetary fund as the secondary budget system with up to 64,07 billion yuan by 2006, has become a rather special problem in China. Using the vector error correction model (VECM ), this paper tries to analyze the long-term effect of this fund system over the economic growth. We find that budgetary and extra-budgetary revenue produce mutual exclusion effect on GDP. The extra-budgetary expenditure has 3- periods unproductive stimulating effect, yet it still need more materials to confirm their true relation for a long time. To causality, extra-budgetary revenue and expenditure are causes and have significant influence on growth of GDP, but adverse relation doesn’t exist. A series of concrete suggestions were raised in this paper that through dividing the responsibility of the intergovernmental expenditure, offering taxation on local government, legislating fees, government may facilitate the reform this financial system.