Abstract
This paper discusses the “aging” of the public capital in Japan. The paper consists of two parts. One part is the quantitative analysis of the aging by calculating the vintage of public capital, and the other part is the proposal to evaluate the quality and asset value of each public infrastructure or public facility. By the future calculation of the vintage, the aging of the core infrastructure such as road, airport, harbor, and the capital related to soil and water conservation will become so serious. Moreover, the vintage of the road is negatively correlated with the fi nancial index, which is the indicator to specify how much the prefectural governments can collect their own taxes. As proposals for the evaluation, we suggest the introduction of the infrastructure report card and the appraisal for the asset value of each public infrastructure or public facility.
