کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7356383 1478236 2018 29 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Infrastructure investment in China: A model of local government choice under land financing
ترجمه فارسی عنوان
سرمایه گذاری زیربنایی در چین: یک مدل انتخاب دولت محلی تحت تامین مالی زمین
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
What factors contribute to high - even excessive - investment in public infrastructure? One explanation identified in the literature is fiscal decentralization and resulting competition for mobile capital among localities. We elaborate on this explanation for the Chinese context by developing a model of local public infrastructure investment with land financing. We show that public infrastructure investment increases when local governments are able to capture returns from investment in land improvement. We further find that the “polarization effect” associated with fiscal decentralization by Cai and Treisman (2005) can be exacerbated when local governments are able to capture the returns from land improvement. Finally, we note that while land financing can provide a stimulus for local development, this may come at the expense of a diminished share of spending on social welfare programs and other public consumption goods.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Asian Economics - Volume 56, June 2018, Pages 24-35
نویسندگان
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