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Chapters | 2011

Direct versus Indirect Taxation: Trends, Theory and Economic Significance

Jorge Martinez-Vazquez; Violeta Vulovic; Yongzheng Liu

One of the oldest questions in the theory and practice of taxation is that of the appropriate mix of direct and indirect taxes. The choice between direct and indirect taxes has contributed to a long animated debate, in political and academic circles, regarding the virtues and defects of those two forms of taxation. In this paper we provide an overview of the evolution of the ratio of direct taxes to indirect taxes across countries over the past three decades, the theorizing that has gone behind the alleged superiority of one form of taxation or the other, the determinants that appear to be behind the intensity with which both forms of taxation are used, and the economic relevance of the choice of tax structure in terms of economic growth, macroeconomic stability, the distribution of income, and the flow of foreign direct investment (FDI).


Hacienda Publica Espanola | 2012

The Impact of Tax and Expenditure Policies on Income Distribution: Evidence from a Large Panel of Countries

Jorge Martinez-Vazquez; Blanca Moreno-Dodson; Violeta Vulovic

The main focus of this paper is on the potential role that taxation and public expenditure policies play in general in affecting income distribution. We find that progressive personal income taxes and corporate income taxes reduce income inequality. The effect of corporate income taxes seems to be eroded away in open or globalized economies. We also generally find that general consumption taxes, excise taxes and customs duties have a negative impact on income distribution. On the expenditure side, we find that higher shares of GDP on social welfare, education, health and housing public expenditures have a positive impact on income distribution.


Archive | 2012

Government Fiscal Policies and Redistribution in Asian Countries

Iris Claus; Jorge Martinez-Vazquez; Violeta Vulovic

This paper assesses the impact of government fiscal policies on income inequality in Asia. It discusses the role and effectiveness of redistributive fiscal policies and quantifies the effects of taxation and government expenditure on income distributions. Panel estimation for 150 countries with data between 1970 and 2009 confirms international empirical findings for Asia. Tax systems tend to be progressive but government expenditures are a more effective tool for redistributing income. Moreover, the results suggest some distinctive differential distributive effect for government expenditure on social protection in Asia. Social protection spending appears to increase income inequality, whereas it reduces it in the rest of the world. Also, adversely affecting the distribution of income in Asia is government expenditure on housing. Some options for improving the effectiveness of fiscal policies in Asia are discussed.


Asian Economic Papers | 2013

Coping with Rising Inequality in Asia: How Effective Are Fiscal Policies

Iris Claus; Jorge Martinez-Vazquez; Violeta Vulovic

This paper discusses the role and effectiveness of redistributive fiscal policies and provides estimates of the effects of taxation and government expenditure on income inequality in Asia. Tax systems around the world tend to be progressive, but government expenditure is generally found to be a more effective tool for redistributing income. In Asia, government spending on social protection has a distinctive differential distributive impact. Social protection spending appears to increase income inequality in Asia, whereas it reduces it in the rest of the world. Government expenditure on housing is also adversely affecting the distribution of income in Asia. Policy options for improving the redistributional effectiveness of fiscal policies in Asia are discussed.


Chapters | 2016

How Well Do Subnational Borrowing Regulations Work

Jorge Martinez-Vazquez; Violeta Vulovic

There are many positive things associated with subnational borrowing, including additional funding or promoting intergenerational equity. But it may also endanger fiscal sustainability and macro stability due to moral hazard and soft budget constraints. Thus borrowing controls are justified and also common. In this paper we review the different types of ex-ante and ex-post regulations used the international experience based on a large panel of developed and developing countries. Effectiveness or borrowing regulations in this paper is defined relative to the ability to preserve primary balances at the general government and subnational levels. There is a wide variety of both ex-ante and ex-post sub-national borrowing regulations that countries implement. Each has both advantages and disadvantages, with different suitability countries’ circumstances. For example, depth of financial markets is important when choosing market-based regulations. The presence of subnational tax autonomy contributes to an increase in the general government primary balance, but not significantly for subnational primary balances. A history of subnational bailouts is associated with lower primary balances on average at all levels. The “golden rule” (borrowing is only for capital investment purposes) and limits on debt and borrowing appear effective at all levels of government. However, we find that none of the broad types of sub-national borrowing regulations seem to have a distinct significant direct effect on the narrow definition of fiscal sustainability at the subnational level.


Chapters | 2014

New approaches to measuring tax effort

Musharraf Rasool Cyan; Jorge Martinez-Vazquez; Violeta Vulovic

Taxation and Development highlights the importance of better understanding the ways in which taxes and expenditure are linked. Focusing on developing countries, the book argues for a broader approach to the topic, with a secondary focus on developing and applying new modeling techniques to country-specific data.


Documents de treball IEB | 2010

THE EFFECT OF SUB-NATIONAL BORROWING CONTROL ON FISCAL SUSTAINABILITY: HOW TO REGULATE?

Violeta Vulovic


Archive | 2013

Taxation and Economic Growth in Latin America

Gustavo Canavire-Bacarreza; Jorge Martinez-Vazquez; Violeta Vulovic


Archive | 2013

Measuring tax effort: Does the estimation approach matter and should effort be linked to expenditure goals?

Musharraf Rasool Cyan; Jorge Martinez-Vazquez; Violeta Vulovic


Revista De Economia Mundial | 2014

Tax structure in Latin American : its impact on the real economy

Jorge Martínez Vázquez; Violeta Vulovic

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Iris Claus

Australian National University

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Yongzheng Liu

Renmin University of China

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