The Politics of Financing the Highway Boom in China
Fiscal federalism has provided the institutional basis for the rapid highway boom in China for three decades, creating a close linkage between subnational investment and revenue claims on tolled roads. This model of capitalization is financially unsustainable and undermines the standardization of taxation and contracting of public–private partnership projects.
2015 ◽
Vol 6
(12)
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pp. 2128-2136
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