The Politics of Financing the Highway Boom in China: For Whom the Road Tolls Rise
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Peer-reviewed
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Abstract
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.
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Keywords
fiscal federalism, highway network, public-private partnership, toll roads, local government debt
Journal Title
Asian Survey
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Journal ISSN
0004-4687
1533-838X
1533-838X
Volume Title
58
Publisher
University of California Press
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Sponsorship
British Academy, Contemporary China Studies Programme (Oxford), Chinese Academy of Social Sciences, and National University of Singapore