登入選單
返回Google圖書搜尋
Tax Smoothing in a Financially Repressed Economy
Mr.Paul CashinMs.Ratna SahayNilss Olekalns
其他書名
Evidence from India
出版International Monetary Fund, 1998-08-01
主題Business & Economics / Public FinanceBusiness & Economics / BudgetingBusiness & Economics / Investments & Securities / Stocks
ISBN14518544639781451854466
URLhttp://books.google.com.hk/books?id=IloYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit: tax smoothing and tax tilting. This paper tests a version of Barro’s tax-smoothing model, using Indian data for the period 1951-52 to 1996-97. The empirical results indicate that the central government of India has tax-smoothed, while the regional governments of India have not. The paper also finds evidence of tax tilting, reflected in financial repression, which has led to the accumulation of excessive public liabilities.