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The effects of taxes and public infrastructure on regional economic development.

机译:税收和公共基础设施对区域经济发展的影响。

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摘要

Scope and method of study. The recent attention given to public infrastructure deterioration has increased the interest of policy makers and researchers in the impact of state and local tax and spending policies on regional economic development. This study examines the relationship between employment growth and state and local public infrastructure capital stock and taxes within the context of a firm location model. Investigating the significance of increases in public infrastructure capital on economic growth in isolation of the tax increases necessary to finance them is not of considerable importance to policy makers. The framework of a firm location model allows the positive effects on economic growth of public infrastructure increases to be compared with the negative effects of the tax increases necessary to finance them. This study uses, with other explanatory variables, state and local public infrastructure capital stock estimates, a new type of data. Measures of business and non-business taxes are constructed and used as explanatory variables. These variables are consistent with the theoretical specification of a firm location model. Estimation procedures are chosen to correct for the problems that have plagued previous empirical studies of the effects of state and local infrastructure and taxes on regional economic development. The previous studies that used regression analysis have assumed that all state and regional fixed effects can be controlled for by intercept dummy variables, assuming that all slopes are the same across states. This study investigates the structural stability of regression models even after the inclusion of intercept dummy variables.;Findings and Conclusions. Unlike previous studies that found significant impact of streets/highways and water and sewage public capital stock on economic growth for the mean state of all the states, the results of this study indicate that streets/highways and sewage public infrastructure capital has a positive and statistically significant effect on economic growth in the high growth states, but not in the low growth states. This supports Eberts and Dalenberg (1988) assertion that public infrastructure deterioration in older cities and SMSA's has a considerable adverse impact on urban economic growth. The effects of increases of state and local public infrastructure capital on streets and highways on regional economic growth outweigh the negative effects of the tax increases, necessary to finance them, in some of the high growth states. This result suggests that in the long run the net effects of tax increases to finance increases in public infrastructure are likely to be positive for most of the high growth states. Evidence found by the study indicates that firms, when making location decisions, give more weight to interstate, or interjurisdictional, differentials in taxes paid by businesses than to non-business taxes or state total tax revenue. This suggests that raising an additional amount of tax revenue would cause less harm to employment growth if it is made by non-business taxes than by business taxes.
机译:研究范围和方法。最近对公共基础设施恶化的关注引起了决策者和研究人员对国家和地方税收与支出政策对区域经济发展的影响的兴趣。这项研究在企业区位模型的背景下研究了就业增长与州和地方公共基础设施资本存量和税收之间的关系。对决策者来说,调查公共基础设施资本增加对经济增长的重要性,而不是为其筹集必要的税收增加进行调查的重要性。企业选址模型的框架允许将公共基础设施建设对经济增长的积极影响与为公共基础设施筹集资金所必需的税收增长的负面影响进行比较。这项研究结合其他解释变量,州和地方公共基础设施资本存量估算,使用了一种新型数据。构建了营业税和非营业税的度量标准,并将其用作解释变量。这些变量与公司选址模型的理论规范一致。选择估计程序以纠正困扰先前关于国家和地方基础设施以及税收对区域经济发展影响的实证研究的问题。以前使用回归分析的研究假设,所有状态和区域固定效应都可以通过截距虚拟变量来控制,假设所有状态的所有斜率都相同。这项研究调查了回归模型的结构稳定性,即使在包含截距虚拟变量之后也是如此。;发现和结论。与先前的研究发现街道/公路以及水和污水公共资本存量对所有州平均状态的经济增长有显着影响不同,本研究的结果表明,街道/公路和污水公共基础设施资本在统计上具有正的影响。在高增长国家对经济增长有重大影响,但在低增长国家则不然。这支持了Eberts和Dalenberg(1988)的论点,即旧城区和SMSA的公共基础设施恶化对城市经济增长产生了相当大的不利影响。在一些高速增长的州,增加州和地方公共基础设施资本对街道和高速公路的增长对区域经济增长的影响,超过了增加税收所必需的负面影响。该结果表明,从长远来看,税收增加对公共基础设施建设融资的净效应对于大多数高增长国家而言可能是积极的。该研究发现的证据表明,企业在做出选址决策时,比起非营业税或州总税收收入,更重视州际或管辖范围内企业缴纳的税收差异。这表明,如果以非营业税的方式增加税收收入,则对就业增长的损害较小,而不是由营业税。

著录项

  • 作者

    Monofali, Abbas H.;

  • 作者单位

    Oklahoma State University.;

  • 授予单位 Oklahoma State University.;
  • 学科 Economics General.
  • 学位 Ph.D.
  • 年度 1998
  • 页码 140 p.
  • 总页数 140
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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