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The choice of local governments under two principals : The case of tax hike policy of South Korea noncompliance of local governments to tax hike policy

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  • The choice of local governments under two principals
  • Kim, Daejin
  • Seoul National University


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Title The choice of local governments under two principals
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Sub Title

The case of tax hike policy of South Korea noncompliance of local governments to tax hike policy

Material Type Articles
Author(English)

Kim, Daejin

Publisher

[Seoul, S.Korea]:Seoul National University

Date 2008
Journal Title; Vol./Issue Korean Journal of Policy Studies:vol. 23(no. 1)
Pages 27
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Government and Law < Public Administration
Holding Seoul National University

Abstract

The Korean central government introduced a package of tax hikes on real estate in order to achieve tax levy equity. This remarkable tax innovation, however, resulted in conflicts between the cnetral government, residents, and local governments, which were followed by area-wide tax competitions among the local governments in the Seoul Metropolitan Area (SMA). This study analyzes the property tax resistance of the SMA using the form model approach to the principal and agent. It is assumed in the study that residents, local governments, and the central government have a divided principal-agent relationship. With several descriptive analyses and some data for the case, however, the theoretical model gives a logical explanation for the behaviors of residents, local governments, and the central government in the short-term tax resistance. (The rest omitted)