Abstract
The purpose of this paper is to reveal the kinds of public investment that create a fiscal common pool problem through municipal mergers in Japan. In particular, we focus on whether municipal mergers increase road and public park construction immediately before the mergers because previous papers reveal that municipal mergers increase only local bonds. The empirical results show that subordinate merger partners rapidly increase their road and public park expenses just before mergers.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.