Luxury hotels mushrooming and extravagant governments |
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Authors: | Brian Yuan Jenna Lee |
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Institution: | Lingnan College, Sun Yat-sen University, 135 Xingangxi Road, Guangzhou, People's Republic of China |
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Abstract: | This paper empirically examines the effect of nontax revenue on demands for luxury hotels in China where the strict public financial supervision is not well-established. Results indicate the nontax revenue significantly influences luxury hotel demands across the country and that government demands have crowding out effect on private demands for luxury hotels, all of which appear more salient in Chinese underdeveloped areas with more severely deficient public financial supervision. |
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Keywords: | luxury hotels government demands nontax revenue crowding out effect public financial supervision |
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