Tsai, Pi Han
Fiscal expenditure and industrial land price in China theory and evidence / Pi‐Han Tsai, Chien‐Yu Huang, Tsun‐Feng Chiang .-- , 2020
Resumen.
Bibliografía.
This paper aims to discover the mechanism behind the positive correlation between local fiscal expenditure and industrial land price in China, a stylized fact discovered by bivariate and regression analyses. The model shows that if the positive externality of government expenditure on growth is sufficiently high, the local government has an incentive to increase public spending in exchange for the reduced demand for industrial land by charging a higher markup and driving up the industrial land price. Therefore, we observe a positive correlation between the local fiscal expenditure and industrial land price.
GASTOS FISCALES LOCALES
SUELO
INDUSTRIA
PRECIOS
CHINA
MODELOS ECONOMETRICOS
Huang, Chien Yu
Chiang, Tsun Feng
Contemporary Economic Policy 1074-3529 [papel]v. 38, n. 4, October 2020, p. 593-606
Fiscal expenditure and industrial land price in China theory and evidence / Pi‐Han Tsai, Chien‐Yu Huang, Tsun‐Feng Chiang .-- , 2020
Resumen.
Bibliografía.
This paper aims to discover the mechanism behind the positive correlation between local fiscal expenditure and industrial land price in China, a stylized fact discovered by bivariate and regression analyses. The model shows that if the positive externality of government expenditure on growth is sufficiently high, the local government has an incentive to increase public spending in exchange for the reduced demand for industrial land by charging a higher markup and driving up the industrial land price. Therefore, we observe a positive correlation between the local fiscal expenditure and industrial land price.
GASTOS FISCALES LOCALES
SUELO
INDUSTRIA
PRECIOS
CHINA
MODELOS ECONOMETRICOS
Huang, Chien Yu
Chiang, Tsun Feng
Contemporary Economic Policy 1074-3529 [papel]v. 38, n. 4, October 2020, p. 593-606