著者

金 東煥

出版者

生活経済学会

雑誌

生活経済学研究 (ISSN:13417347)

巻号頁・発行日

vol.38, pp.11-26, 2013

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The present paper examines empirical analysis on how the lock-in effect of capital gains tax raises Korean land prices, based on the theory that the effect deters the efficient land uses. At first, this paper constructs a simple model of land development from agricultural land with reconsidering of capital gains taxation under perfect foresight. Then the tax rate will be changed by simulation to confirm whether it affects the lock-in effect on the Korean land market. As the result, it makes clear that the lock-in effect of capital gains tax deters the efficient land uses of Korea's land, it also affects sudden rises of Korea's land prices.