impact of infrastructure investment on tax: estimating spillover effects of the kyushu high-speed...

8/16/2019 Impact of Infrastructure Investment on Tax: Estimating Spillover Effects of the Kyushu High-Speed Rail Line in Japa…

1/28

AH@M Tfrkmgd Uaplr _lrmls

Mjpaot fc MgcrastruoturlMgvlstjlgt fg Xax> Lstmjatmgd_pmiifvlr Lcclots fc tbl KyusbuBmdb-_pllh Pami Imglmg Napag fg Pldmfgai Xax Plvlgul

Gafyukm ]fsbmgf agh\jmh A`mhbahnalv

Gf.


2/28

Xbl Tfrkmgd Uaplr slrmls ms a ofgtmguatmfg fc tbl cfrjlriy gajlh Hmsoussmfg Uaplr slrmls;tbl guj`lrmgd fc tbl paplrs ofgtmgulh wmtbfut mgtlrruptmfg fr obagdl. AH@M”s wfrkmgd

paplrs rlcilot mgmtmai mhlas fg a tfpmo agh arl pfstlh fgimgl cfr hmsoussmfg. AH@M lgofuradlsrlahlrs tf pfst tblmr ofjjlgts fg tbl jamg padl cfr laob wfrkmgd paplr (dmvlg mg tblomtatmfg `lifw). _fjl wfrkmgd paplrs jay hlvlifp mgtf ftblr cfrjs fc puìmoatmfg.

_uddlstlh omtatmfg>

]fsbmgf, G., agh \. A`mhbahnalv. 0513. Mjpaot fc Mgcrastruoturl Mgvlstjlgt fg Xax>Lstmjatmgd _pmiifvlr Lcclots fc tbl Kyusbu Bmdb-_pllh Pami Imgl mg Napag fg Pldmfgai XaxPlvlgul. AH@M Tfrkmgd Uaplr Asmag Hlvlifpjlgt @agk Mgstmtutl. Avamiaìl>bttp>//www.ah`.frd/puìmoatmfgs/mjpaot-mgcrastruoturl-mgvlstjlgt-tax-lstmjatmgd-spmiifvlr-lcclots-kyusbu-bmdb-spllh/

Uilasl ofgtaot tbl autbfrs cfr mgcfrjatmfg a`fut tbms paplr.

L-jami> gyfsbmgfEah`m.frd, ua`mhbahnalvEah`m.frd

Gafyukm ]fsbmgf ms Hlag fc tbl Asmag Hlvlifpjlgt @agk Mgstmtutl (AH@M).

\jmh A`mhbahnalv ms a rlslarob assfomatl at AH@M.

Xbl vmlws lxprlsslh mg tbms paplr arl tbl vmlws fc tbl autbfr agh hf gft glolssarmiy

rlcilot tbl vmlws fr pfimomls fc AH@M, AH@, mts @farh fc Hmrlotfrs, fr tbl dfvlrgjlgtstbly rlprlslgt. AH@M hfls gft duaragtll tbl aoouraoy fc tbl hata mgoiuhlh mg tbms paplragh aoolpts gf rlspfgsm`mimty cfr agy ofgslqulgols fc tblmr usl. Xlrjmgfifdy uslh jaygft glolssarmiy `l ofgsmstlgt wmtb AH@ fccmomai tlrjs.

Tfrkmgd paplrs arl su`nlot tf cfrjai rlvmsmfg agh ofrrlotmfg `lcfrl tbly arl cmgaimzlhagh ofgsmhlrlh puìmsblh.

Asmag Hlvlifpjlgt @agk MgstmtutlKasujmdaslkm @umihmgd 2C

?-0-< Kasujmdaslkm, Obmyfha-kuXfkyf 155-3552, Napag

Xli> +21-?-?


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AH@M Tfrkmgd Uaplr B


4/28

AH@M Tfrkmgd Uaplr


5/28

AH@M Tfrkmgd Uaplr


6/28

AH@M Tfrkmgd Uaplr


7/28

AH@M Tfrkmgd Uaplr Autbfrs.


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9/28

AH@M Tfrkmgd Uaplr Ofgstruotmfg agh Fplratmfg Xmjlimgl fc tbl Bmdb-_pllh Pami Imgl

Ulrmfh Urlofgstruot mfg Ofgstruot mfg Fplratmfg M Fplratmfg MM

]lars 1=20‟1==5 1==1‟055? 0558‟0515 0511‟051?

_furol> Autbfrs” agaiysms; Jmgmstry fc Iagh, Mgcrastruoturl, Xragspfrt agh Xfurmsj.

Xbl hmrlot oaiouiatmfg fc glt hmcclrlgols aorfss tmjl agh drfups fc prlcloturls bliplh usf`tamg lstmjatls wmtb ag lyl fg tbl tmjl-mgvarmagt rldmfg-splomcmo lcclots uslh tf prfxy tblmhmfsygoratmo claturls fc a rldmfg prfollhmgd crfj bmstfrmoai agh sfomai hlvlifpjlgt as wliias ylar-splomcmo lcclots oapturmgd tbl lcclot fc obagdls mg ildmsiatmfg fr fvlraii ùsmglssoimjatl.

At tbl sajl tmjl, obagdls mg tax rlvlgul hygajmos jmdbt `l oauslh `y a wmhl ragdl fcftblr caotfrs `lsmhls tbl acfrljlgtmfglh lcclots agh prfvmsmfg fc tbl bmdb-spllh rami-imgl. Mcwl hf gft aoofugt cfr tbl pfssm`mimty fc pfsmtmvl lcclots rlsuitmgd crfj ftblr lvfivmgd caotfrs,fur lstmjatls jmdbt `l hfwgwarh fr upwarh `maslh `y gldatmvl fr pfsmtmvl lcclots mghuolh`y ftblr caotfrs. Xbms obaiilgdl mg lstmjatmfg ms aisf jlgtmfglh mg prfdraj lvaiuatmfgimtlraturl as ag lxtlrgai vaimhmty prfìlj (@aglrnll agh Hucif 055=, Pavaiimfg 055=, aghPfhrmk 0552).

Xf ahhrlss tbms mssul, wl gllh tf aokgfwilhdl tbl caotfr mgputs, wbmob jmdbt acclot tblplrcfrjagol fc tax rlvlgul mg tbl prlcloturl agh ofgtrfi cfr tmjl-varymgd ofvarmatls.

Mgofrpfratmgd tbl guj`lr fc taxpaylrs mg tbl lstmjatmfg crajlwfrk agh f`tamgmgd a imglarprfnlotmfg fc tbl tax rlvlguls fgtf guj`lr fc taxpaylrs, aoofugtmgd cfr tmjl-mgvarmagtrldmfg-splomcmo lcclots agh ylar-splomcmo lcclots prfvmhl us wmtb tbl cfiifwmgd hlcmgmtmfgs fcacclotlh drfups agh gfg-acclotlh drfups fc prlcloturls>

Acclotlh drfup, Xd:A

t:5 (`lcfrl sbmgkagslg)> ∃5 : 5 + 5 + 5‰+ 5 (1)

t:1 (actlr sbmgkagslg)> ∃1 : 1 + 1 + 1‰+ 1 + + 1 (0)

Gfg-acclotlh drfup, Xd:G

t:5 (`lcfrl sbmgkagslg)> ∃5 : 5 + 5 + 5 + 5 (?)

t:1 (actlr sbmgkagslg)> ∃ 1 : 1 + 1 + 1 +1 + 1 (8)

Xbms rldrlssmfg crajlwfrk jakls mt pfssmìl tf ofgtrfi cfr tbl a`fvl-jlgtmfglh ofvarmatlsagh dlt a ilss `maslh lstmjatl fc tbl hmcclrlgol-mg-hmcclrlgol oflccmomlgt fc mgtlrlst.Lquatmfgs (1) tf (8) prfvmhl us wmtb tbl àslimgl lstmjatmfg stratldy fc tbl hmcclrlgol-mg-hmcclrlgol splomcmoatmfg>

∃Xmt :α +σt +R‰mt ∔ΰ+θ ∔ Hdt + ϼ mt (


10/28

AH@M Tfrkmgd Uaplr (m) aoofugt cfr splomcmo obaraotlrmstmos fc tbl rldmfgs suob as ifoatmfg fr guj`lr fc

lgtlrprmsls, jatobmgd tbl prlcloturls wmtb tbl oifslst guj`lr fc lgtlrprmsls mg tblprlofgstruotmfg plrmfh mg tbms asplot; agh (mm) aotuaiiy cfous fg tbl hlplghlgt varmaìl aghcmgh tbl oifslst jatob crfj tbl prl-bmdb-spllh rami-imgl plrmfh `y f`slrvmgd tbl avlradlplrcfrjagol fc prlcloturls mg acclotlh drfups agh gfg-acclotlh drfups.

Mg tbl glxt stadl, wl iffklh at tbl jmgmjuj hmstagol mg ugmt jlasurljlgt crfj wbmob wlobfsl ag mgstrujlgt. Mg tbms asplot, tblrl arl tbrll fptmfgs> tbl Jabaiagf`ms hmstagol, tblmgvlrsl varmagol, fr tbl Luoimhmag hmstagol. Mg tbl sofpl fc tbms stuhy, wl uslh Luoimhmaghmstagol as tbl hmstagol jltrmo tf cmgh tbl oifslst jatob fr glarlst glmdb`fr cfr fur acclotlhprlcloturls mg tbl prl-bmdb-spllh rami-imgl plrmfh.

@y cmghmgd tbl jmgmjuj hmstagol `ltwllg tbl jlag tax rlvlgul ajfugt agh stagharh

hlvmatmfg hurmgd tbl prl-bmdb-spllh rami imgl fc 1=20‟1==5, wl oag hltlrjmgl tbl oifslstofugtlrpart fc tbl acclotlh prlcloturl, fr mg ftblr wfrhs, wl oag cmgh tbl ’glarlst glmdb`fr‚fc tbl acclotlh prlcloturl. Xblsl drfups fc glarlst glmdb`frs prfvmhl a ugmqul hataslt cfrofgstruotmgd tbl ofugtlrcaotuai solgarmf mg tbl a`slgol fc trlatjlgt mg tbl cfrj fc tblKyusbu bmdb-spllh rami imgl. Mg tbl sofpl fc tbms stuhy, wl prlslgt lstmjatmfg rlsuits cfr tbloasl fc glarlst glmdb`frs oaiouiatlh `y jmgmjuj hmstagol `ltwllg tbl jlag vaiul fc taxrlvlguls mg tbl prl-sbmgkagslg plrmfh fc 1=20‟1==5. Xaìl ? imsts tbl glarlst glmdb`frs cfrtbl drfups fc acclotlh prlcloturls àslh fg tbl jmgmjuj hmstagol fg jlag vaiul.

1 Xbms apprfaob rlqumrls ag assujptmfg fc a ofjjfg tmjl patb fr paraiili trlghs, aoolptmgd tbl autfgfjfus

ratl fc drfwtb tf `l lquai mg `ftb acclotlh agh gfg-acclotlh drfups.


11/28

AH@M Tfrkmgd Uaplr Ac clotlh Urlcloturls agh tblmr Ofrrlspfghmgd Glarlst Glmdb`frs`y Jmgmjuj Luoimhmag Hmstagol `ltwllg Jlag Saiul fc Xftai Xax Plvlguls

cfr tbl Url-Bmdb-_pllh Pami Imgl, 1=20‟1==1(¥ jmiimfg)

Urlcloturl

Jlag Xax

Plvlgul

_tagharh

Hlvmatmfg Urlcloturl

Jlag Xax

Plvlgul

_tagharh

Hlvmatmfg1. Kadfsbmja 058,152 1?,4


12/28

AH@M Tfrkmgd Uaplr


13/28

AH@M Tfrkmgd Uaplr Hmcclrlgol-mg-Hmcclrlgol Lstmjatmfg Plsuitswmtb Futofjl Sarma`il fc Xftai Xax Plvlgul

(lxoiuhmgd f`slrvatmfgs cfr Xfkyf, Amobm, Kagadawa,agh Fsaka prlcloturls crfj tbl ofgtrfi drfup)

_oail fc Cfous Ac clotlh Drfup

fc Urlcloturls

Ofgstruotmfg

Ulrmfh(1==1‟055?)

Fplratmfg

Ubasl 1(0558‟0515)

Fplratmfg

Ubasl 0(0511‟051?)

_pmiifvlr Lcclot `yPldmfg

Xrlatjlgt Drfup 1 ==,=8=*** 35,228*** 132,


14/28

AH@M Tfrkmgd Uaplr Hmcclrlgol-mg-Hmcclrlgol Lstmjatmfg Plsuitswmtb Futofjl Sarma`il fc Ofrpfratl Mgofjl Xax Plvlgul


fc Urlcloturls

OfgstruotmfgUlrmfh

(1==1‟055?)

FplratmfgUbasl 1

(0558‟0515)

FplratmfgUbasl 0

(0511‟051?)


Xrlatjlgt Drfup 1 11,=83*** ‟3,002** 43,013[4.4Z [‟0.18Z [1.3


15/28

AH@M Tfrkmgd Uaplr


16/28

AH@M Tfrkmgd Uaplr hfls tblrlsuitmgd gldatmvl glt hmcclrlgol mg plrsfgai agh ofrpfratl mgofjl tax hurmgd fplratmfgpbasl 1 jlag tbat mgofjl fc bfuslbfihs agh cmrjs hlorlaslh actlr tbl mgtrfhuotmfg fc tblbmdb-spllh rami imgl6 Mc gft, wbat arl tbl pfssm`il oausls cfr tbl hlorlasl mg tax rlvlgulajfugt mg ofjparmsfg wmtb tbl ofugtlrcaotuai solgarmf wmtbfut tbl mgtrfhuotmfg fc tblKyusbu bmdb-spllh rami imgl6

Hlspmtl tbl gldatmvl oflccmomlgts fc tbl hmcclrlgol-mg-hmcclrlgol cfr plrsfgai mgofjl tax aghofrpfratl mgofjl tax, tbly arl gft lgfudb tf jakl ifdmoai hlhuotmfgs a`fut tbl statls fcplrsfgai agh ofrpfratl mgofjl ajfugt. Tl gllh tf takl mgtf aoofugt tbl lxmstlgol fctbrlsbfihs cfr prfdrlssmvl taxatmfg fr su`stagtmai obagdls mg tax rlvlgul (Xa`il 3). Mg ftblrwfrhs, tblrl ms a pfssm`mimty tbat plrsfgai mgofjl agh ofrpfratl mgofjl wlrl gft burt mg tblrldmfg `loausl fc tbl mgtrfhuotmfg fc a glw jfhl fc tragspfrtatmfg. Fg tbl ofgtrary, mgofjl


17/28

AH@M Tfrkmgd Uaplr


18/28

AH@M Tfrkmgd Uaplr Xax @urhlg fg Ofrpfratl Mgofjl

Xaxa`il Mgofjl @raoklts\p tf ¥8 jmiim fg

(%) ¥8 jm ii mfg

tf ¥2 jmiimfg (%) Fvlr

¥2 jm ii mfg (%)

Ofrpfratl tax

Ifoai ofrpfratl tax

Ofrpfratl mgba`mtagt taxls

1. Urlcloturai

0. Jugmompai

Lgtlrprmsl tax

_plomai ifoai ofrpfratl tax

1


19/28

AH@M Tfrkmgd Uaplr Hmcclrlgol-mg-Hmcclrlgol Lstmjatmfg Plsuitswmtb Futofjl Sarma`il fc Ofrpfratl Mgofjl

_oail fc Cfous Ac clo tlh Drfup

fc Urlcloturls

OfgstruotmfgUlrmfh

(1==1‟055?)

FplratmfgUbasl 1

(0558‟0515)

FplratmfgUbasl 0

(0511‟051?)


Xrlatjlgt Drfup 1 88,553* 00,8?< 145,8


20/28

AH@M Tfrkmgd Uaplr Hmcclrlgol-mg-Hmcclrlgol Lstmjatmfg Plsuitswmtb Futofjl Sarma`il fc Ofrpfratl Mgofjl


fc Urlcloturls

FplratmfgUbasl 0(0511)


FplratmfgUbasl 0(051?)


Xrlatjlgt Drfup 1 02


21/28

AH@M Tfrkmgd Uaplr ]lariy Hmcclrlgol-mg-Hmcclrlgol Lstmjatmfg Plsuitswmtb Futofjl Sarma`il fc Xftai Xax Plvlgul(wmtb f`slrvatmfgs cfr Xfkyf, Amobm, Kagadawa,

agh Fsaka prlcloturls mgoiuhlh mg tbl ofgtrfi drfup)

_oail fc Cfous Ac clotlh Drfupfc Urlcloturls





Xrlatjlgt Drfup 1 032,388*** 045,03?*** 0


22/28

AH@M Tfrkmgd Uaplr Hmcclrlgol-mg-Hmcclrlgol Lstmjatmfg Plsuitswmtb Futofjl Sarma`il fc Ofrpfratl Mgofjl Xax Plvlgul


fc Urlcloturls





Xrlatjlgt Drfup 1 =0,405** 2=,52?** 43,?5?*[0.5


23/28

AH@M Tfrkmgd Uaplr Hmcclrlgol-mg-Hmcclrlgol Lstmjatmfg Plsuits wmtb FutofjlSarma`il fc Xftai Xax Plvlgul \smgd Glarlst-Glmdb`fr Jatobmgd @aslh

fg tbl Luoimh mag Hmstagol `ltwllg Jlag Xax Plvlguls, 1=20‟1==5

_oail fc Cfous

Ac clotlh Drfup

fc Urlcloturls

OfgstruotmfgUlrmfh

(1==1‟055?)

FplratmfgUbasl 1

(0558‟0515)

FplratmfgUbasl 0

(0511‟051?)_pmiifvlr Lcclot `yPldmfg

Xrlatjlgt Drfup 1 151,10


24/28

AH@M Tfrkmgd Uaplr Hmcclrlgol-mg-Hmcclrlgol Lstmjatmfg Plsuits w mtb Futofjl Sarma`ilfc Ulrsfgai Mgofjl Xax Plvlgul \smgd Glarlst-Glmdb`fr Jatobmgd

@aslh fg tbl Luoimhmag Hmstagol `ltwllg Jlag Xax Plvlguls, 1=20‟1==5

_oail fc Cfous

Ac clotlh Drfup

fc Urlcloturls

OfgstruotmfgUlrmfh

(1==1‟055?)

FplratmfgUbasl 1

(0558‟0515)

FplratmfgUbasl 0


Xrlatjlgt Drfup 1 04,200.=0 ‟05,1?=. Kadfsbmja, Kujajftf,Cukufka, Fmta, Jmyazakm; Drfup 8> Kadfsbmja, Kujajftf, Cukufka, Fmta, Jmyazakm, _ada, Gadasakm; Drfup Kadfsbmja,Kujajftf, Cukufka, ]ajaduobm, Bmrfsbmja, Fkayaja, Byfdf, Fsaka. X-vaiuls arl mg parlgtblsls. Xbl t-vaiul jlasurlsbfw jagy stagharh lrrfrs tbl oflccmomlgt ms away crfj zlrf.

* p9.1, ** p9.5 Autbfrs.

Bfwlvlr, tbl ofgglotmfg iatlr fc tbl Kyusbu bmdb-spllh rami imgl tf tbl _agyf bmdb-spllh ramiimgl mg 0511 rlsuitlh mg a pfsmtmvl glt hmcclrlgol mg plrsfgai mgofjl tax rlvlgul. Xbus, mg tbloasl fc spmiifvlr lcclots `y ahnaolgoy, glt hmcclrlgol ofgstmtutlh ¥?0 `miimfg agh ¥?4 `miimfgcfr Xrlatjlgt Drfup 8 agh Xrlatjlgt Drfup ?, rlsplotmvliy. Mg tbl cfrj fc spmiifvlr lcclots`y rldmfg, tbl glt hmcclrlgol was lquai tf ¥


25/28

AH@M Tfrkmgd Uaplr Hmcclrlgol-mg-Hmcclrlgol Lstmjatmfg Plsuits w mtb Futofjl Sarma`ilfc Ofrpfratl Mgofjl Xax Plvlgul \smgd Glarlst-Glmdb`fr Jatobmgd @aslh

fg tbl Luoimh mag Hmstagol `ltwllg Jlag Xax Plvlguls, 1=20‟1==5

_oail fc Cfous

Ac clotlh Drfup

fc Urlcloturls

OfgstruotmfgUlrmfh

(1==1‟055?)

FplratmfgUbasl 1

(0558‟0515)

FplratmfgUbasl 0


Xrlatjlgt Drfup 1 10,1?0.??*** ‟3,0=0.41* 3,30=.5<

[18.53Z [‟0.41Z [0.58Z

Guj`lr fc F`slrvatmfgs 22 32


26/28

AH@M Tfrkmgd Uaplr


27/28

AH@M Tfrkmgd Uaplr 058‟085. Olgtlr cfr LofgfjmoMgtldratmfg, _lnfgd \gmvlrsmty.

Arsiagaip, _., C. @argbarst, _. Dupta, agh L. _zl. 0515. Uuìmo oapmtai agh drfwtb.Mgtlrgatmfgai Jfgltary Cugh Tfrkmgd Uaplr Gf. 14 MgtlrgatmfgaiJfgltary Cugh.

Asobaulr, H. 1=2=. Ms puìmo oapmtai prfhuotmvl6. Nfurgai fc Jfgltary Lofgfjmos 0?(0)> 144‟ 055.

@aglrnll, A. agh L. Hucif. 055=. Xbl Lxplrmjlgtai Apprfaob tf Hlvlifpjlgt Lofgfjmos. Agguai Plvmlw fc Lofgfjmos 1> 1 Ag ljpmrmoai asslssjlgt. Mgtlrgatmfgai Plvmlw fc AppimlhLofgfjmos 05> 1 08=‟04 Gfrtb-Bfiiagh. ?2= 111‟103.

Lvlralrt, D. 055?. @aiagolh drfwtb agh puìmo oapmtai> Ag ljpmrmoai agaiysms wmtb M(0) trlghsmg oapmtai stfok hata. Lofgfjmo Jfhliimgd 05> 481‟43?.

Ca`lr, @. 0518. Xrahl mgtldratmfg, jarklt smzl agh mghustrmaimzatmfg> Lvmhlgol crfj Obmga”s

gatmfgai trugk bmdbway systlj. Plvmlw fc Lofgfjmo _tuhmls 21> 1583‟1545.*

Dfgzailz-Gavarrf, J. agh O. Qumgtaga-Hfjlqul. 0515. _trllt pavljlgt> Plsuits crfj ag

mgcrastruoturl lxplrmjlgt mg Jlxmof. Tfrkmgd Uaplrs 1084. Urmgoltfg \gmvlrsmty,Hlpartjlgt fc Lofgfjmos, Mghustrmai Pliatmfgs _lotmfg.

Barjatuok, H. 1==3. Xbl mgciulgol fc tragspfrtatmfg mgcrastruoturl fg lofgfjmo hlvlifpjlgt.Ifdmstmos agh Xragspfrtatmfg Plvmlw. ?0(1)> 43‟=0.

Baylk, C. 1=84/0554. Xbl Uurl Xblfry fc Oapmtai. Sfi. 10 fc tbl Ofiilotlh Tfrks. Obmoadf>\gmvlrsmty fc Obmoadf Urlss.

Buitlg, O. agh P. _obwa`. 1==1. Uuìmo oapmtai cfrjatmfg agh tbl drfwtb fc rldmfgaijagucaoturmgd mghustrmls. Gatmfgai Xax Nfurgai 38(8)> 101‟1?8.

Napag Lxtlrgai Xrahl Frdagmzatmfg. bttps>//www.nltrf.df.np/lg/mgvlst/slttmgdVup/iaws/

* Xbl Asmag Hlvlifpjlgt @agk rlclrs tf Obmga `y tbl gajl Ulfpil”s Plpuìmo fc Obmga.


28/28

AH@M Tfrkmgd Uaplr //www.ntlro.fr.np/lgdimsb/kfkusam/ofgclrlgols/phc/1?5011-jimt-prlslgtatmfg.phc

Jfrlgf, P., L. Iÿplz-@azf, agh J. Artês. 055?. Fg tbl lcclotmvlglss fc prmvatl agh puìmooapmtai. Appimlh Lofgfjmos ? 404‟485.

Gatmfgai Xax Adlgoy fc Napag. bttps>//www.gta.df.np/

Ulrlmra, A. agh N. Aghraz. 055?. Fg tbl mjpaot fc puìmo mgvlstjlgt fg tbl plrcfrjagol fc\_ mghustrmls. Uuìmo Cmgagol Plvmlw ?1(1)> 33‟=5.

‘‘‘. 055 144‟1=3.

‘‘‘. 0515. Fg tbl lofgfjmo agh ̀ uhdltary lcclots fc mgvlstjlgts mg _outs ‟ tblUfrtudulsl tfii crll bmdbways. Xbl Aggais fc Pldmfgai _omlgol Cl`ruary 0510 82(1)>?01‟??2.

‘‘‘. 051?. Fg tbl Lofgfjmo Lcclots fc Uuìmo Mgcrastruoturl Mgvlstjlgt> A _urvly fc tblMgtlrgatmfgai Lvmhlgol. Nfurgai fc Lofgfjmo Hlvlifpjlgt ?2(8)> 1‟?4. Obugd-Agd

\gmvlrsmty, Hlpartjlgt fc Lofgfjmos.

Ulrlmra, A. agh F. Pfoa-_adails. 0554. Uuìmo Mgcrastruoturls agh Pldmfgai Asyjjltrmls mg_pamg. Plvul h”Lofgfjml Pldmfgail lt \ràmgl ?> ?‟1=.

]fsbmgf, G. agh \. A`mhbahnalv. 051Xbl Oasl fc tbl Pamiway Ofgglotmfg mg \z`lkmstag. AH@M Tfrkmgd Uaplr Asmag Hlvlifpjlgt @agk Mgstmtutl. Avamiaìl>bttp>//www.ah`.frd/puìmoatmfgs/mjpaotlvaiuatmfg-mgvlstjlgt-mgcrastruoturl-oasl-ramiway-ofgglotmfg-uz`lkmstag

]fsbmgf, G. agh S. Ufgtmgls. 051 Oasl fc tbl_XAP Bmdbway mg tbl Ubmimppmgls. AH@M Tfrkmgd Uaplr AsmagHlvlifpjlgt @agk Mgstmtutl. Avamiaìl> bttp>//www.ah`.frd/puìmoatmfgs/bmdbway-lcclot-puìmo-cmgagoloasl-star-bmdbway-pbmimppmgls/

impact of infrastructure investment on tax: estimating spillover effects of the kyushu high-speed...

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