Tax Composition and Growth : : A Broad Cross-Country Perspective

• Record Nr.: UNINA9910779330703321
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2012
• ISBN: 1-4755-2101-4; 1-61635-917-X; 1-283-86689-7; 1-4755-3473-6
• Descrizione fisica: 1 online resource (37 p.)
• Collana: IMF Working Papers; IMF working paper ; ; WP/12/257
• Soggetti: Taxation; Finance, Public; Public Finance; Fiscal Policy; Efficiency; Optimal Taxation; Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence; Personal Income and Other Nonbusiness Taxes and Subsidies; Taxation, Subsidies, and Revenue: General; Business Taxes and Subsidies; Public finance & taxation; Property & real estate; Consumption taxes; Income tax systems; Income and capital gains taxes; Property tax; Revenue administration; Taxes; Income tax; Spendings tax; Revenue; Argentina
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Cover; Content; I. Introduction; II. The Dataset; III. Tax Structure and Development; Figures; 1. Tax Revenue and Income Levels; 2. Tax Revenue and Income Levels: Disaggregated Analysis; 3. Long-Run Trends in Total Tax Revenue; 4. Trends in Tax Revenue: Disaggregated Analysis; 5. Trends in Tax Composition; IV. Empirical Strategy; V. Tax Composition and Growth I: Full Sample; VI. Tax Composition and Growth II: High, Middle and Low-Income Countries; VII. Endogeneity Checks; VIII. Concluding Remarks; References; Tables; 1. Estimation Results, Full Sample; 2. Comparing Estimation Methods: PMG, MG, and DFE Estimates3. Estimation Results, The Income-Tax Share and Growth, HICs, MICs, and LICs; 4. Estimation Results, The Consumption-and-Property-Tax Share and Growth, HICs, MICs, and LICs; 5. Test of Weak Exogeneity, The Number of Countries with Potential Endogeneity Problem; 6. Estimation Results, Full Sample, After Excluding Countries with; 7. Estimation Results, The Income-Tax Share, HICs, MICs, and LICs, After Excluding Countries with Potential Endogeneity Problem; 8. Estimation Results, The Consumption-and-Property-Tax Share, HICs, MICs, LICs, After Excluding Countries with Potential Endogeneity ProblemAnnexes; I. Construction of the GFS Dataset; II. Definition of Tax Variables; III. The Underlying Error Correction Model; IV. Regression Analysis Considering the Output Level; Annex Tables; Annex Table 1. Tax Composition and Income Level, in Comparison with Arnold et al (2011); V. Summary Statistics; Annex Table 2. Summary Statistics of Tax Variables; Annex Table 3. Summary Statistics of Other Variables
• Sommario/riassunto: We investigate the relation between changes in tax composition and long-run economic growth using a new dataset covering a broad cross-section of countries with different income levels. We specifically consider 69 countries with at least 20 years of observations on total tax revenue during the period 1970-2009—21 high-income, 23 middle-income and 25 low-income countries. To our knowledge this is the most comprehensive and up-to-date dataset on tax composition and growth. We find that increasing income taxes while reducing consumption and property taxes is associated with slower growth over the long run. We also find that: (1) among income taxes, social security contributions and personal income taxes have a stronger negative association with growth than corporate income taxes; (2) a shift from income taxes to property taxes has a strong positive association with growth; and (3) a reduction in income taxes while increasing value added and sales taxes is also associated with faster growth.