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- Title
Master development, land appreciation, and government finance: Evidence from the Disney project in Shanghai.
- Authors
Li, Xiaotong; Li, Ying; Ni, Jinlan; Yuan, Jia
- Abstract
Using the difference‐in‐differences method, this paper employs a unique government land transaction dataset at the individual level and investigates how much extra government revenue is generated by the Shanghai Disney Resort through land value appreciation in nearby areas. The results suggest that the Shanghai Disney project significantly increases the nearby land value and then increases local extra government revenue. The average annual extra growth rate was 9.81% (37.01 billion CNY) of Shanghai government revenue from 2009 to 2015 through nearby land value appreciation after the approval of the Shanghai Disney project in 2009. There also exists a heterogeneous impact of the Shanghai Disney project on different types of land value.
- Subjects
SHANGHAI (China); CHINA; PUBLIC finance; GOVERNMENT revenue; REAL property sales &; prices; GROWTH rate; LOCAL government
- Publication
Papers in Regional Science, 2022, Vol 101, Issue 4, p1027
- ISSN
1056-8190
- Publication type
Article
- DOI
10.1111/pirs.12675