Local public goods, debt and migration

• 成果类型: Article
• 署名作者: Schultz, C; Sjöström, T
• 署名单位: University of Copenhagen; University of Copenhagen; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(00)00113-4
• 发表日期: 2001
• 页码: 313-337
• 关键词: MIGRATION; Local public goods; public debt

摘要

Migration raises a potential free rider problem for the provision of durable local public goods if the latecomers can enjoy the public good without paying for it. Allowing communities to finance public goods by debt mitigates this problem, since future immigrants have to share the burden of the debt. However, in equilibrium then will be over-accumulation of local debt. There may be more or less public good than at first best, but conditional on the inefficiently high level of debt there will he too few public goods. A competitive market for land reduces, but does not in general eliminate, the inefficiencies. (C) 2001 Elsevier Science B.V. All rights reserved.