Growth and redistribution impacts of income taxes in the Thai Economy: A dynamic CGE analysis

Bhattarai, Keshab; Benjasak, Chonlakan

doi:10.1016/j.jeca.2020.e00189

Cited by 13 publications

(5 citation statements)

References 24 publications

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“…Similar implications of fiscal reforms on GDP were observed in Organisation for Economic Co-operation and Development (OECD) countries through econometric simulation analysis (Barnes et al, 2013). Bhattarai (2017) examined an increase in output of 33 production sectors after GST implementation, which raised the GDP in India. GST’s overall impact on the economy helped make the less productive sectors more productive, positively affecting capital formation, investment, consumption and employment.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of Goods and Service Tax on MSME Sector: A Study Using Artificial Neural Network and Multivariate Analysis of Variance

Bhalla,

Kaur,

Sharma

2024

The Indian Economic Journal

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Micro, small and medium enterprises (MSME) is one the vital sector of the developing economy. Changes in fiscal policy directly impact this sector the most. The present article aims to examine the impact of the recent Indian indirect system tax overhaul, that is, Goods and Service Tax (GST), on the MSME sector. We have employed multivariate analysis of variance and multi-layer perceptron neural network on the extensive data set for 60 months from April 2015 to March 2020. The empirical findings state that a significant increase has been observed in the MSMEs’ export, revenue generation and gross domestic product in the post-GST era. The findings may aid the emerging economies that are planning to alter tax systems to boost the MSME sector at the international level. JEL Codes: H20, L00, B22, C01, C45

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Section: Literature Reviewmentioning

confidence: 99%

Impact of Goods and Service Tax on MSME Sector: A Study Using Artificial Neural Network and Multivariate Analysis of Variance

Bhalla,

Kaur,

Sharma

2024

The Indian Economic Journal

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“…The initial reports examining the Goods and Services Tax (GST) policy positively influenced the economy (Vasanthagopal 2011). It was predicted that the system would stimulate consumption and income for households and investment and employment in all productive industrial sectors (Bhattarai 2017). These studies, based on the understanding of an 'optimal' design of the GST, presented a theoretically grounded analysis that brought out the benefits of simplifying the tax system and removing its cascading effects.…”

Section: The New Policy Initiatives and Indian Economymentioning

confidence: 99%

From a Recession to the COVID-19 Pandemic: Inflation–Unemployment Comparison between the UK and India

et al. 2021

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The recession in India and the UK peaked in 2017 due to the implications of new policy initiatives. The outbreak of the COVID-19 pandemic at the beginning of 2020 intensified the crisis, causing a drastic decline in aggregate demand and output. India and the UK have resorted to monetary and fiscal stimulus packages to face the economic crisis. This study investigated the inflation–unemployment dynamics during the recession and COVID-19 times in India and the UK. Using a generalized additive model (GAM), the results of this study revealed that the recession had given way to stagflation in India. In contrast, in the UK, it has led to a more severe recession in the short-run. During the downturn, policy initiatives aggravate the recession and eventually turn to stagflation in India due to inflation caused by the weak supply side. However, in the UK, the policy initiatives during this downturn pushed the economy into a deeper recession due to reduced demand. The outbreak of the COVID-19 pandemic has had a similar recessionary impact on both economies. A time horizon based recovery plan is suggested to help the economies recover from stagflation and even deeper recession. This framework could enable policymakers to choose the right path of recovery within the shortest possible time.

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“…There is growing evidence, that spending cuts induce greater (negative) macroeconomic effects than revenue increases (Barrell et al, 2012;Hagemann, 2012;Alesina & Ardagna, 2009). 4 Recent literature shows that even tax reforms including higher tax rates may have positive impacts on the economy (Bhattarai & Benjasak, 2021). Fiscal consolidation packages in the OECD consisted both of revenue increases and expenditure cuts in a country-specific mix (Kastrop et al, 2017).…”

Section: Policy Options For Fiscal Consolidationmentioning

confidence: 99%

Higher Taxes for Fiscal Consolidation? Expected and Unexpected Effects of Municipal Tax Policy

Hesse

2021

Int Adv Econ Res

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During episodes of fiscal consolidation in public budgets, there are different instruments to choose from. The literature shows broad consensus that expenditure cuts are preferred, whereas tax increases tend not to support the fiscal aim. The paper examines instruments for fiscal consolidation at the municipal level in Germany presenting theoretical and empirical findings in favor of revenue-based instruments, focusing on the case of municipalities in the Free State of Saxony. German municipalities can autonomously control several positions on both the expenditure side and the revenue side. Options for expenditure cuts are given both for voluntary and compulsory tasks. On the revenue side, municipalities have the opportunity to set assessment rates on both local trade taxes and property taxes. For this part of the consolidation process, the prevailing opinion is that higher taxes are offset by lower grants, which is not the case in reality. Nevertheless, there are cannibalization effects to consider that may induce primary effects in the short and medium term. Hence, the paper shows an updated view of the drawbacks and opportunities of revenue-based fiscal consolidation. The paper provides evidence for an economic and political discussion that predominantly focuses strongly on the harmful effects of tax increases on the economy.

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Growth and redistribution impacts of income taxes in the Thai Economy: A dynamic CGE analysis

Cited by 13 publications

References 24 publications

Impact of Goods and Service Tax on MSME Sector: A Study Using Artificial Neural Network and Multivariate Analysis of Variance

Impact of Goods and Service Tax on MSME Sector: A Study Using Artificial Neural Network and Multivariate Analysis of Variance

From a Recession to the COVID-19 Pandemic: Inflation–Unemployment Comparison between the UK and India

Higher Taxes for Fiscal Consolidation? Expected and Unexpected Effects of Municipal Tax Policy

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