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Earmarked Taxation for Financing Public Investments Projects

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Abstract

This paper deals with the earmarked taxation employed by local governments for fi nancing public investments projects carried on with some Public-Private Partnerships con figurations. First, we analyse the theoretical pro files of earmarked taxation by using the tax-benefi t approach, and the theory of political competition and accountability. Second, on the ground of the P-P-P literature, we examine the trade-off between fi nancing mechanisms based on public subsidies to the concessionaire fi rm, fi nanced by a earmarked tax, and mechanisms based on users-fees. Then, we discuss cases where the rst solution turns out to be, even partially, preferred. Finally, we consider the potential role of earmarked taxation on the Italian institutional context, emerging from the recent legislation on fi scal federalism and municipalities taxation.

Suggested Citation

  • Lisa Grazzini & Alessandro Petretto, 2011. "Earmarked Taxation for Financing Public Investments Projects," Working Papers - Economics wp2011_16.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
  • Handle: RePEc:frz:wpaper:wp2011_16.rdf
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    Keywords

    Earmarked taxes; cost of public funds; subsidies; public investments;

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

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