This paper analyzes the impact of infrastructure investment on tax revenues and on the economy of the region. In 1991, the Kyushu high-speed rail line was constructed and was completed in 2003. In 2004, the rail line started operating from Kagoshima to Kumamoto. The entire line was opened in...

Key parameters for the modeling of public finances are tax revenue elasticities with respect to tax bases. Yet the existing studies estimating these elasticities for emerging countries disregard the effects of tax reforms on tax revenue, which renders their estimates inconsistent. We use a...

Any government is interested in knowing, to a certain extent degree, the level of tax revenue at a given time in order to design public expenditures. On the other hand, this level of budget revenue is desirable to be sustainable, i.e. to be supported by the existing economi c conditions at a...