Tariff Tax Reforms In Large Economies

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Tariff-Tax Reforms in Large Economies

Author : Mr.Giovanni Ganelli
Publisher : International Monetary Fund
ISBN 13 : 1475555601
Total Pages : 62 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Tariff-Tax Reforms in Large Economies by : Mr.Giovanni Ganelli

Download or read book Tariff-Tax Reforms in Large Economies written by Mr.Giovanni Ganelli and published by International Monetary Fund. This book was released on 2012-05-01 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies tariff-tax reforms in a calibrated two-region global New Keynesian model composed of a developing and an advanced region. In our baseline calibration, a revenue-neutral reform that lowers tariffs in developing countries can reduce domestic welfare. The reason is that the increase in developing countries welfare due to higher output is dominated by the welfare losses stemming from the deterioration of the terms of trade. On the other hand, the reform increases output and welfare in the advanced countries and in the world as a whole. The effects that we highlight have not been studied in previous contributions to the literature, which typically looks at tariff-tax reforms using a small open economy framework. Nominal rigidities have important implications for adjustment dynamics in our model. In the case of a "point-for-point" reform, for example, price stickiness implies that the international dynamics of output is reversed compared to a revenue neutral reform.

Tariff-Tax Reforms in Large Economies

Author : Giovanni Ganelli
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Tariff-Tax Reforms in Large Economies by : Giovanni Ganelli

Download or read book Tariff-Tax Reforms in Large Economies written by Giovanni Ganelli and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies tariff-tax reforms in a two-region global New Keynesian model composed of a developing and an advanced region. In our baseline calibration, a revenue-neutral reform that lowers tariffs in developing countries can reduce domestic welfare. The reason is that the increase in developing countries welfare due to higher output is dominated by the welfare losses stemming from the deterioration of the terms of trade. On the other hand, the reform increases output and welfare in the advanced countries and in the world as a whole. The effects that we highlight have not been studied in previous contributions to the literature, which looks at tariff-tax reforms using a small open economy framework. Nominal rigidities have important implications for adjustment dynamics in our model. In the case of a 'point-for-point' reform, for example, price stickiness implies that the international dynamics of output is reversed compared to a revenue-neutral reform.

Coordinating Tariff Reduction and Domestic Tax Reform

Author : Mr.Michael Keen
Publisher : International Monetary Fund
ISBN 13 : 1451851634
Total Pages : 21 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Coordinating Tariff Reduction and Domestic Tax Reform by : Mr.Michael Keen

Download or read book Coordinating Tariff Reduction and Domestic Tax Reform written by Mr.Michael Keen and published by International Monetary Fund. This book was released on 1999-07-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key obstacle to fundamental tariff reform in many developing countries is the revenue loss that it ultimately implies. This paper establishes a simple and practicable strategy for realizing the efficiency gains from tariff reform without reducing public revenues, showing that for a small open economy, a cut in tariffs combined with a point-for-point increase in domestic consumption taxes increases both welfare and public revenues. Increasingly stringent conditions are required, however, to ensure unambiguously beneficial outcomes from this reform strategy when allowance is made for such important features as nontradeable goods, intermediate inputs, and imperfect competition.

Tax Reform in Developing Countries

Author : Malcolm Gillis
Publisher : Duke University Press
ISBN 13 : 9780822308980
Total Pages : 560 pages
Book Rating : 4.3/5 (89 download)

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Book Synopsis Tax Reform in Developing Countries by : Malcolm Gillis

Download or read book Tax Reform in Developing Countries written by Malcolm Gillis and published by Duke University Press. This book was released on 1989 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents the work of experts on the tax reform in several developing countries, from the restructuring of the economy of post-war Japan to the 1986 reforms in Jamaica. This study is based on the conference convened by the Center for International Development Research of the Institute of Policy Sciences at Duke University in April 1988.

Taxation in Developing Countries

Author : Roger Gordon
Publisher : Columbia University Press
ISBN 13 : 0231520077
Total Pages : 321 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Taxation in Developing Countries by : Roger Gordon

Download or read book Taxation in Developing Countries written by Roger Gordon and published by Columbia University Press. This book was released on 2010-07-05 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taxes are a crucial policy issue, especially in developing countries. Just recently, proposals to raise middle-class taxes toppled the Bolivian government, and plans to extend or increase the value-added tax caused political unrest in Ecuador and Mexico. Despite the impact of tax policy on developing countries, a comprehensive study has yet to be written. Treating Argentina, Brazil, India, Kenya, Korea, and Russia as key case studies, this volume outlines the major aspects of current tax codes and explores their economic and political implications. Examples of both the poorest and wealthiest developing countries, Argentina, Brazil, India, Kenya, Korea, and Russia uniquely demonstrate the diverse fiscal problems of tax reform. Each economy relies heavily on indirect and corporate income taxes, though recently some have reduced their tariff rates and have switched from excise to value-added taxes. There is a large, informal economy in most of these countries, and tax evasion by firms is a significant concern. As a result, tax revenue remains low, even though rates are as high as those in developed economies. Also, unconventional methods to collect revenue have been implemented, including bank debit taxes, state ownership of firms, and implicit taxes on individuals in the informal sector. Exploring these and other concerns, as well as changes in tax law, administration, and fiscal pressures, this comprehensive anthology clarifies the current landscape of tax administration and the economic future of the world's poorer economies.

Tariff-tax Reforms and Market Access

Author : Udo Kreickemeier
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (255 download)

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Book Synopsis Tariff-tax Reforms and Market Access by : Udo Kreickemeier

Download or read book Tariff-tax Reforms and Market Access written by Udo Kreickemeier and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reducing tariffs and increasing consumption taxes is a standard IMF advice to countries that want to open up their economy without hurting government finances. Indeed, theoretical analysis of such a tariff-tax reform shows an unambiguous increase in welfare and government revenues. The present paper examines whether the country that implements such a reform ends up opening up its markets to international trade, i.e. whether its market access improves. It is shown that this is not necessarily so. We also show that, comparing to the reform of only tariffs, the tariff-tax reform is a less efficient proposal to follow both as far as it concerns market access and welfare. JEL code: F13, H20. Keywords: Market access; tariff reform, consumption tax reform.

Trade Liberalization and Tax Reform in the Southern Mediterranean Region

Author : Mr.George T. Abed
Publisher : International Monetary Fund
ISBN 13 : 1451846819
Total Pages : 34 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Trade Liberalization and Tax Reform in the Southern Mediterranean Region by : Mr.George T. Abed

Download or read book Trade Liberalization and Tax Reform in the Southern Mediterranean Region written by Mr.George T. Abed and published by International Monetary Fund. This book was released on 1998-04-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union’s Association Agreements with several countries in the Southern Mediterranean Region (SMR) aim to promote deeper economic integration between the SMR and the EU by establishing a free trade area in twelve years. Because a large share of the SMR countries’ total imports comes from the EU, the removal of import tariffs could reduce budgetary revenue by the equivalent of 1 percent to 4 percent of individual countries’ GDP. This paper proposes tax and tariff reforms that would help generate the needed compensatory revenue and, more important in the long run, reduce the distortionary effects of the tax and tariff systems and underpin higher rates of sustainable growth.

Taxation in the Global Economy

Author : Assaf Razin
Publisher : University of Chicago Press
ISBN 13 : 0226705889
Total Pages : 456 pages
Book Rating : 4.2/5 (267 download)

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Book Synopsis Taxation in the Global Economy by : Assaf Razin

Download or read book Taxation in the Global Economy written by Assaf Razin and published by University of Chicago Press. This book was released on 2008-04-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increasing globalization of economic activity is bringing an awareness of the international consequences of tax policy. The move toward the common European market in 1992 raises the important question of how inefficiencies in the various tax systems—such as self-defeating tax competition among member nations—will be addressed. As barriers to trade and investment tumble, cross-national differences in tax structures may loom larger and create incentives for relocations of capital and labor; and efficient and equitable income tax systems are becoming more difficult to administer and enforce, particularly because of the growing importance of multinational enterprises. What will be the role of tax policy in this more integrated world economy? Assaf Razin and Joel Slemrod gathered experts from two traditionally distinct specialties, taxation and international economics, to lay the groundwork for understanding these issues, which will require the attention of scholars and policymakers for years to come. Contributors describe the basic provisions of the U.S. tax code with respect to international transactions, highlighting the changes contained in the U.S. Tax Reform Act of 1986; explore the ways that tax systems influence the decisions of multinationals; examine the effect of taxation on trade patterns and capital flows; and discuss the implications of the opening world economy for the design of optimal international tax policy. The papers will prove valuable not only to scholars and students, but to government economists and international tax lawyers as well.

The Challenges of Tax Reform in a Global Economy

Author : James Alm
Publisher : Springer Science & Business Media
ISBN 13 : 9780387299129
Total Pages : 498 pages
Book Rating : 4.2/5 (991 download)

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Book Synopsis The Challenges of Tax Reform in a Global Economy by : James Alm

Download or read book The Challenges of Tax Reform in a Global Economy written by James Alm and published by Springer Science & Business Media. This book was released on 2005-11-29 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents 15 original papers and commentaries by a distinguished group of tax policy and tax administration experts. Using international examples, they highlight the state of knowledge of tax reform, present new thinking about the issue, and analyze useful policy options. The book’s general goal is to examine the current and emerging challenges facing tax reformers and to assess possible directions future reforms are likely to take. More specific themes include distributional issues, how to tax capital income, how to design specific taxes (e.g., the income tax, the value-added tax, the property tax), how to consider the politics and administrative aspects of tax reform, and how to combine the separate insights into comprehensive tax reform.

The Million

Author :
Publisher :
ISBN 13 :
Total Pages : 426 pages
Book Rating : 4.:/5 (334 download)

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Book Synopsis The Million by :

Download or read book The Million written by and published by . This book was released on 1886 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Quantifying the Fiscal Effects of Trade Reform

Author : Shantayanan Devarajan
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Quantifying the Fiscal Effects of Trade Reform by : Shantayanan Devarajan

Download or read book Quantifying the Fiscal Effects of Trade Reform written by Shantayanan Devarajan and published by . This book was released on 2016 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: A general equilibrium tax model estimated for 60 countries provides a simple but rigorous method for estimating the fiscal impact of trade reform. Using a tax model of an open economy, Devarajan, Go, and Li provide a simple but rigorous method for estimating the fiscal impact of trade reform. Both the direction and the magnitude of the fiscal consequences of trade reform depend on the elasticities of substitution and transformation between foreign and domestic goods, so they provide empirical estimates of those elasticities. They also discuss the implications of their analysis for public revenue. In general, they find that it matters what the values of the two elasticities are relative to each other. If only one of the elasticities is low (close to zero), revenue will drop unequivocally as a result of tariff reform, reaching close to the maximum drop whether or not the other elasticity is high. For imports to grow and tariff collection to compensate for the tax cut, the import elasticity has to be high. Because of the balance of trade constraint, however, imports cannot substitute for domestic goods unless supply is able to switch toward exports. Hence, the export transformation elasticity has to be high as well. As substitution possibilities between foreign and domestic goods increase, a tariff reform can theoretically be self-financing. But if the elasticities are less than large, tax revenue will fall with tariff reduction and further fiscal adjustments will be necessary. Devarajan, Go, and Li provide empirical estimates of the possible range of values for the elasticities of about 60 countries, using various approaches. The elasticities range from 0 to only 3 in most cases - nowhere near the point at which tariff reform can be self-financing. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to develop and apply tools to analyze fiscal reform. The authors may be contacted at [email protected], [email protected].

Quantifying the Fiscal Effects of Trade Reform

Author : Shantayanan Devarajan
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Quantifying the Fiscal Effects of Trade Reform by : Shantayanan Devarajan

Download or read book Quantifying the Fiscal Effects of Trade Reform written by Shantayanan Devarajan and published by World Bank Publications. This book was released on 1999 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: August 1999 - A general equilibrium tax model estimated for 60 countries provides a simple but rigorous method for estimating the fiscal impact of trade reform. Using a tax model of an open economy, Devarajan, Go, and Li provide a simple but rigorous method for estimating the fiscal impact of trade reform. Both the direction and the magnitude of the fiscal consequences of trade reform depend on the elasticities of substitution and transformation between foreign and domestic goods, so they provide empirical estimates of those elasticities. They also discuss the implications of their analysis for public revenue. In general, they find that it matters what the values of the two elasticities are relative to each other. If only one of the elasticities is low (close to zero), revenue will drop unequivocally as a result of tariff reform, reaching close to the maximum drop whether or not the other elasticity is high. For imports to grow and tariff collection to compensate for the tax cut, the import elasticity has to be high. Because of the balance of trade constraint, however, imports cannot substitute for domestic goods unless supply is able to switch toward exports. Hence, the export transformation elasticity has to be high as well. As substitution possibilities between foreign and domestic goods increase, a tariff reform can theoretically be self-financing. But if the elasticities are less than large, tax revenue will fall with tariff reduction and further fiscal adjustments will be necessary. Devarajan, Go, and Li provide empirical estimates of the possible range of values for the elasticities of about 60 countries, using various approaches. The elasticities range from 0 to only 3 in most cases - nowhere near the point at which tariff reform can be self-financing. This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to develop and apply tools to analyze fiscal reform. The authors may be contacted at [email protected], [email protected].

Tax Reform in Economies in Transition

Author : Mr.Vito Tanzi
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Tax Reform in Economies in Transition by : Mr.Vito Tanzi

Download or read book Tax Reform in Economies in Transition written by Mr.Vito Tanzi and published by International Monetary Fund. This book was released on 1991-03 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transition from a command to a market economy requires profound reforms of the tax system. Such a transition will put downward pressures on the level of taxation at a time when public expenditure remains high. This paper outlines the main characteristics of the tax systems in centrally-planned economies. It describes recent changes in those tax systems. Finally, it discusses the major difficulties that will be faced, and the errors that must be avoided, during the transition.

The Coordinated Reform of Tariffs and Domestic Indirect Taxes

Author : Pradeep Mitra
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The Coordinated Reform of Tariffs and Domestic Indirect Taxes by : Pradeep Mitra

Download or read book The Coordinated Reform of Tariffs and Domestic Indirect Taxes written by Pradeep Mitra and published by World Bank Publications. This book was released on 1990 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tariff reform for trade liberalization must be seen as part of a broader program of tax reform. Custom duties on imports should be geared chiefly to protection. Reductions in such duties to promote an outward- oriented development strategy should be offset by increases in sales/value- added taxes applied equally to imports and domestic production. That would maintain public revenues and avoid exacerbating macroeconomic dificulties.

World Tax Reform

Author : Michael J. Boskin
Publisher :
ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis World Tax Reform by : Michael J. Boskin

Download or read book World Tax Reform written by Michael J. Boskin and published by . This book was released on 1990 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: A review of current thinking on taxation which examines the changes in tax structure occurring in 11 countries, ranging from Indonesia and Mexico to Sweden and the United States. The book coincides with a trend towards tax reform which has taken hold in many developed and developing countries.

Coordinating Tariff Reduction and Domestic Tax Reform

Author : Michael Keen
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Coordinating Tariff Reduction and Domestic Tax Reform by : Michael Keen

Download or read book Coordinating Tariff Reduction and Domestic Tax Reform written by Michael Keen and published by . This book was released on 2006 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key obstacle to fundamental tariff reform in many developing countries is the revenue loss that it ultimately implies. This paper establishes a simple and practicable strategy for realizing the efficiency gains from tariff reform without reducing public revenues, showing that for a small open economy, a cut in tariffs combined with a point-for-point increase in domestic consumption taxes increases both welfare and public revenues. Increasingly stringent conditions are required, however, to ensure unambiguously beneficial outcomes from this reform strategy when allowance is made for such important features as nontradeable goods, intermediate inputs, and imperfect competition.

Clashing Over Commerce

Author : Douglas A. Irwin
Publisher : University of Chicago Press
ISBN 13 : 022639901X
Total Pages : 873 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Clashing Over Commerce by : Douglas A. Irwin

Download or read book Clashing Over Commerce written by Douglas A. Irwin and published by University of Chicago Press. This book was released on 2017-11-29 with total page 873 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs