A BRAVE EXPERIMENT: KOREA'S RECENT LAND POLICY REFORM AND THE ROLE OF THE LAND HOLDING TAX

Jae†young Son

Review of Urban & Regional Development Studies, 1994, vol. 6, issue 2, 114-134

Abstract: Korea's land policy has evolved around the presumption that market intervention is necessary to combat rising prices and speculation. In this paper it is argued, however, that the essence of the land problem is a distributional issue, and that the efforts to selectively punish speculators have had detrimental consequences. Past and present land policy is evaluated from this perspective, and a current policy issue, increasing land holding taxes, is examined. Notwithstanding the theoretical effect of a higher land holding tax, even a radical increase of the tax will not be able to stabilize land prices as long as urban land remains scarce. The government should accelerate deregulation in land use and development.

Date: 1994
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/j.1467-940X.1994.tb00053.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:revurb:v:6:y:1994:i:2:p:114-134

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0917-0553

Access Statistics for this article

More articles in Review of Urban & Regional Development Studies from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().