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Journal articles on the topic 'Quasi-taxes'
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1
DOIDGE, CRAIG, and ALEXANDER DYCK. "Taxes and Corporate Policies: Evidence from a Quasi Natural Experiment." Journal of Finance 70, no. 1 (January 19, 2015): 45–89. http://dx.doi.org/10.1111/jofi.12101.
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Jakobsen, Katrine, Kristian Jakobsen, Henrik Kleven, and Gabriel Zucman. "Wealth Taxation and Wealth Accumulation: Theory and Evidence From Denmark*." Quarterly Journal of Economics 135, no. 1 (October 9, 2019): 329–88. http://dx.doi.org/10.1093/qje/qjz032.
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Abstract Using administrative wealth records from Denmark, we study the effects of wealth taxes on wealth accumulation. Denmark used to impose one of the world’s highest marginal tax rates on wealth, but this tax was greatly reduced starting in 1989 and later abolished. Due to the specific design of the wealth tax, the 1989 reform provides a compelling quasi-experiment for understanding behavioral responses among the wealthiest segments of the population. We find clear reduced-form effects of wealth taxes in the short and medium run, with larger effects on the very wealthy than on the moderately wealthy. We develop a simple life cycle model with utility of residual wealth (bequests) allowing us to interpret the evidence in terms of structural primitives. We calibrate the model to the quasi-experimental moments and simulate the model forward to estimate the long-run effect of wealth taxes on wealth accumulation. Our simulations show that the long-run elasticity of taxable wealth with respect to the net-of-tax return is sizable at the top of the distribution.
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Jacob, Martin, Roni Michaely, and Maximilian A. Müller. "Consumption Taxes and Corporate Investment." Review of Financial Studies 32, no. 8 (December 10, 2018): 3144–82. http://dx.doi.org/10.1093/rfs/hhy132.
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Abstract Consumers nominally pay the consumption tax, but theoretical and empirical evidence is mixed on whether corporations partly shoulder this burden, thereby affecting corporate investment. Using a quasi-natural experiment, we show that consumption taxes decrease investment. Firms facing more elastic demand decrease investment more strongly, because they bear more of the consumption tax. We corroborate the validity of our findings using 86 consumption tax changes in a cross-country panel. We document two mechanisms underlying the investment response: reduced firms’ profitability and lower aggregate consumption. Importantly, the magnitude of the investment response to consumption taxes is similar to that of corporate taxes. Received September 25, 2017; editorial decision August 26, 2018 by Editor Wei Jiang. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.
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Benzarti, Youssef. "How Taxing Is Tax Filing? Using Revealed Preferences to Estimate Compliance Costs." American Economic Journal: Economic Policy 12, no. 4 (November 1, 2020): 38–57. http://dx.doi.org/10.1257/pol.20180664.
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This paper uses a quasi-experimental design to estimate the cost of filing taxes. Using US tax returns, I observe how taxpayers choose between itemizing deductions and claiming the standard deduction. Taxpayers forgo large tax savings to avoid compliance costs, which provides a revealed preference estimate of such costs. I show that costs increase with income, consistent with an opportunity cost of time explanation. These estimates suggest substantial costs of filing federal income taxes, significantly larger than previously estimated using surveys. (JEL H24, H26, H31)
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Johnston, Andrew C. "Unemployment Insurance Taxes and Labor Demand: Quasi-Experimental Evidence from Administrative Data." American Economic Journal: Economic Policy 13, no. 1 (February 1, 2021): 266–93. http://dx.doi.org/10.1257/pol.20190031.
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To finance unemployment insurance, states raise payroll tax rates on employers who engage in layoffs. Tax rates are, therefore, highest for firms after downturns, potentially hampering labor-market recovery. Using full-population, administrative records from Florida, I estimate the effect of these tax increases on firm behavior leveraging a regression kink design in the tax schedule. Tax hikes reduce hiring and employment substantially, with no effect on layoffs or wages. The results imply unanticipated costs of the financing regime which reduce the optimal benefit by a quarter and account for 12 percent of the unemployment in the wake of the Great Recession. (JEL D22, E24, H25, H32, H71, J23, J65)
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Londoño-Vélez, Juliana, and Javier Ávila-Mahecha. "Enforcing Wealth Taxes in the Developing World: Quasi-Experimental Evidence from Colombia." American Economic Review: Insights 3, no. 2 (June 1, 2021): 131–48. http://dx.doi.org/10.1257/aeri.20200319.
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This paper investigates the feasibility of wealth taxation in developing countries. It uses rich administrative data from Colombia and leverages a government-designed program for voluntary disclosures of hidden wealth as well as the threat of detection triggered by the Panama Papers leak. There are two key findings. First, there is substantial (primarily offshore) evasion: two-fifths of the wealthiest 0.01 percent evade taxes, with these evaders concealing one-third of their wealth offshore. Second, strengthening enforcement can have a significant impact on wealth tax compliance, tax revenue, and progressivity. These results highlight both challenges and opportunities for wealth taxation in the developing world. (JEL D31, G51, H24, H26, K34, O15)
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Lutz, Byron. "Quasi-Experimental Evidence on the Connection between Property Taxes and Residential Capital Investment." American Economic Journal: Economic Policy 7, no. 1 (February 1, 2015): 300–330. http://dx.doi.org/10.1257/pol.20120017.
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Do low property taxes attract new home construction? This question is answered using a large shock to property tax burdens caused by an unusual school finance reform in the state of New Hampshire. The estimates suggest that, in most of the state, communities with a reduced tax burden experience a substantial increase in residential construction. In the area of the state near the region's primary urban center (Boston), however, the shock clears through a price adjustment—i.e., by capitalizing into property values. The differing responses are attributed to differing housing supply elasticities. (JEL H71, H73, R31)
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Bouckaert, Boudewijn, and Gerrit De Geest. "Private takings, private taxes, private compulsory services: The economic doctrine of quasi contracts." International Review of Law and Economics 15, no. 4 (December 1995): 463–87. http://dx.doi.org/10.1016/0144-8188(95)00040-2.
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Andersson, Julius J. "Carbon Taxes and CO2 Emissions: Sweden as a Case Study." American Economic Journal: Economic Policy 11, no. 4 (November 1, 2019): 1–30. http://dx.doi.org/10.1257/pol.20170144.
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This quasi-experimental study is the first to find a significant causal effect of carbon taxes on emissions, empirically analyzing the implementation of a carbon tax and a value-added tax on transport fuel in Sweden. After implementation, carbon dioxide emissions from transport declined almost 11 percent, with the largest share due to the carbon tax alone, relative to a synthetic control unit constructed from a comparable group of OECD countries. Furthermore, the carbon tax elasticity of demand for gasoline is three times larger than the price elasticity. Policy evaluations of carbon taxes, using price elasticities to simulate emission reductions, may thus significantly underestimate their true effect. (JEL H23, L91, Q54, Q58)
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Bradley, Sebastien, and Naomi E. Feldman. "Hidden Baggage: Behavioral Responses to Changes in Airline Ticket Tax Disclosure." American Economic Journal: Economic Policy 12, no. 4 (November 1, 2020): 58–87. http://dx.doi.org/10.1257/pol.20190200.
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We examine the impact of a January 2012 enforcement action by the US Department of Transportation that required US air carriers and online travel agents to modify their web interfaces to incorporate all ticket taxes in up-front, advertised fares. We show that the more prominent display of tax-inclusive prices is associated with significant reductions in consumer tax incidence, demand, and ticket revenues along more heavily taxed itineraries. In particular, the fraction of unit taxes that airlines passed onto consumers fell by roughly 75 cents for every dollar of tax. These results present evidence of consumer inattention in a novel institutional setting featuring quasi-experimental variation in tax salience, economically significant tax amounts, and endogenous price responses. (JEL D91, H22, H25, H31, L84, L93)
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Brennan, G. "The Public Choice Approach to Tax Reform." Environment and Planning C: Government and Policy 6, no. 1 (March 1988): 41–52. http://dx.doi.org/10.1068/c060041.
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The public choice approach to tax reform involves a number of distinguishable strands. In the first place, there is a strand in which there is posited a view that taxes emerge, like all other public decisions, from political processes and, therefore, are to be explained in terms of the characteristics of political institutions. In the second place, there is a strand in which it is conceived that taxes are part of the institutional structure, in some way logically prior to other policy choices. One element in this strand is the ‘cost-share’ perspective, in which taxes are seen as analogous to the prices that voters pay for public services. On this view, changes in tax arrangements by altering those prices can be expected to alter public expenditure levels. An alternative element is the ‘Leviathan’ perspective, in which taxes represent the fiscal powers of the state, and in which changes in tax arrangements will alter the extent of these powers and thereby the extent of state expenditure activities. In both these latter perspectives, taxes are to be treated quasi-constitutionally: The institutional arrangements under which tax reforms are decided become an important object of attention. Furthermore, the feedback effects of tax changes on expenditure levels become an explicit part of any proper analysis. These various strands are discussed in this paper, and the question is posed as to whether the public choice approach, in whatever variant, can be satisfactorily and coherently ‘tacked on’ to a more orthodox tax-reform line.
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Gemmell, Norman, Arthur Grimes, and Mark Skidmore. "Do Local Property Taxes Affect New Building Development? Results from a Quasi-Natural Experiment in New Zealand." Journal of Real Estate Finance and Economics 58, no. 2 (December 30, 2017): 310–33. http://dx.doi.org/10.1007/s11146-017-9651-y.
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Kohlhase, Saskia, and Jochen Pierk. "The effect of a worldwide tax system on tax management of foreign subsidiaries." Journal of International Business Studies 51, no. 8 (December 2, 2019): 1312–30. http://dx.doi.org/10.1057/s41267-019-00287-9.
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AbstractUnder a worldwide tax system, firms pay taxes on their domestic income and repatriated foreign income, whereas under a territorial tax system repatriated foreign income is exempt from taxation. We examine whether worldwide tax systems reduce the incentives of multinational corporations to engage in tax management in their foreign subsidiaries. Using two quasi-natural experiments, we show that multinationals lower the effective tax rates in their foreign subsidiaries after countries switch from a worldwide to a territorial tax system. Thus, multinationals subject to a worldwide tax system face competitive disadvantages compared to competitors from countries with a territorial tax system.
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Camerer, Colin, and Richard H. Thaler. "In Honor of Matthew Rabin: Winner of the John Bates Clark Medal." Journal of Economic Perspectives 17, no. 3 (August 1, 2003): 159–76. http://dx.doi.org/10.1257/089533003769204407.
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Matthew Rabin's Clark medal honors his abilities to digest huge amounts of nuanced psychology, create simple models capturing that psychology, and do behavioral economics with those models. After warming up by solving hard problems in modeling pre-game communication, his behavioral career began with a seminal paper on reciprocity. He also created models of “present-bias” in time discounting, and derived some surprises from them, and implications (e.g., deadlinesetting and sin taxes). Matthew has also studied quasi-Bayesian models of judgment biases (confirmation and overgeneralization from small samples), overprojection of current feelings into the future, and how moral rules differ from moral tastes.
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Irianto, Edi Slamet, Haula Rosdiana, and Maria RUD Tambunan. "On quest of environmental tax implementation in Indonesia." E3S Web of Conferences 52 (2018): 00013. http://dx.doi.org/10.1051/e3sconf/20185200013.
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The number of research evaluating the implementation of environmental tax using regulatory cost perspective is still limited. Whereas, this type of research is quite crucial in formulating tax policy to find the balance between regulatory function, revenue productivity and its impact on maintaining conducive business climate. Therefore, this research is aimed to elaborate types of environmental taxes applied in Indonesia, to map the problems arised of their implementation and their impact on regulatory compliance cost. This research occupied postpositivism paradigm with mixed method approach. The data were gathered through qualitative and quantitative technique. The result shows that eventhough Indonesia has not implement explicity a new environmental tax, there are a lot of quasi-environmental tax scatterly levied by local government and provincial government due to their authority given by the decentralization besides the corporate social responsibility performed by the business entities. Unfortunately, the reallocation budget framework on the tax/charged levied from the quasi-environmental tax has not been clear. Thus, it is essential to establish a comprehensive environmental tax with an integrated roadmap considering and accomodating the former quasi-environmental tax into a one package environmental tax policy with clear concept of earmarking with efficient collection cost.
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Kleven, Henrik, Camille Landais, Mathilde Muñoz, and Stefanie Stantcheva. "Taxation and Migration: Evidence and Policy Implications." Journal of Economic Perspectives 34, no. 2 (May 1, 2020): 119–42. http://dx.doi.org/10.1257/jep.34.2.119.
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In this article, we review a growing empirical literature on the effects of personal taxation on the geographic mobility of people and discuss its policy implications. We start by laying out the empirical challenges that prevented progress in this area and then discuss how recent work has made use of new data sources and quasi-experimental approaches to credibly estimate migration responses. This body of work has shown that certain segments of the labor market, especially high-income workers and professions with little location-specific human capital, may be quite responsive to taxes in their location decisions. When considering the implications for tax policy design, we distinguish between uncoordinated and coordinated tax policy. We highlight the importance of recognizing that mobility elasticities are not exogenous, structural parameters. They can vary greatly depending on the population being analyzed, the size of the tax jurisdiction, the extent of tax policy coordination, and a range of non-tax policies. While migration responses add to the efficiency costs of redistributing income, we caution against overusing the recent evidence of (sizeable) mobility responses to taxes as an argument for less redistribution in a globalized world.
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Grembi, Veronica, Tommaso Nannicini, and Ugo Troiano. "Do Fiscal Rules Matter?" American Economic Journal: Applied Economics 8, no. 3 (July 1, 2016): 1–30. http://dx.doi.org/10.1257/app.20150076.
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Fiscal rules are laws aimed at reducing the incentive to accumulate debt, and many countries adopt them to discipline local governments. Yet, their effectiveness is disputed because of commitment and enforcement problems. We study their impact applying a quasi-experimental design in Italy. In 1999, the central government imposed fiscal rules on municipal governments, and in 2001 relaxed them below 5,000 inhabitants. We exploit the before/after and discontinuous policy variation, and show that relaxing fiscal rules increases deficits and lowers taxes. The effect is larger if the mayor can be reelected, the number of parties is higher, and voters are older. (JEL E62, H71, H72, H74, R51)
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Chang, Mou-Hsiung. "Hereditary Portfolio Optimization with Taxes and Fixed Plus Proportional Transaction Costs—Part I." Journal of Applied Mathematics and Stochastic Analysis 2007 (January 8, 2007): 1–33. http://dx.doi.org/10.1155/2007/82753.
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This is the first of the two companion papers which treat an infinite time horizon hereditary portfolio optimization problem in a market that consists of one savings account and one stock account. Within the solvency region, the investor is allowed to consume from the savings account and can make transactions between the two assets subject to paying capital gain taxes as well as a fixed plus proportional transaction cost. The investor is to seek an optimal consumption-trading strategy in order to maximize the expected utility from the total discounted consumption. The portfolio optimization problem is formulated as an infinite dimensional stochastic classical-impulse control problem. The quasi-variational HJB inequality (QVHJBI) for the value function is derived in this paper. The second paper contains the verification theorem for the optimal strategy. It is also shown there that the value function is a viscosity solution of the QVHJBI.
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FREY, BRUNO S. "Deterrence and tax morale in the European Union." European Review 11, no. 3 (July 2003): 385–406. http://dx.doi.org/10.1017/s1062798703000346.
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Deterrence has been the prevalent strategy to enforce tax revenue both throughout history and in economic theory. This approach is, however, problematic because it is inconsistent with empirical reality. I wish to consider a new way of thinking about taxation, following psychological economics. I submit that individuals have a substantial amount of civic virtue and tax morale. Taxation is ‘quasi-voluntary’ and cannot reasonably be enforced by deterrence. Tax morale is lowered when the citizens have little trust in their state, and feel badly treated by the tax office. According to official surveys, the European Union is faced with a ‘democracy deficit’ and dwindling support from the citizens. At the EU-level, civic virtue and tax morale can be improved by offering more (direct) political participation rights and raising taxes in a decentralized way.
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Rolston, Arthur. "Capital, Corporations, and Their Discontents in Making California's Constitutions, 1849–1911." Pacific Historical Review 80, no. 4 (November 1, 2011): 521–56. http://dx.doi.org/10.1525/phr.2011.80.4.521.
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This article traces California's constitutional development from 1849 through 1911, examining how and why California's constitution developed into a quasi-legislative document that constitutionalized policies involving corporations, banks, railroads, taxes, and other economic relationships, thereby limiting the power of the legislature. I argue that drafters of California's constitutions deliberately curtailed legislative power and transformed class issues into constitutional ones. California's experience was consistent with state constitutional developments throughout the United States, especially in the West. Advocates of constitutional reform saw state legislatures as corrupt captives of "capitalists" and other "special interests" that could not to be trusted to serve the people's interests. These issues permeated debates over constitutional reform in California and other states from the 1840s through the initial decades of the twentieth century, leading to the adoption of the initiative and referendum.
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Mainali, Raju. "Spatial Fiscal Interactions in Colombian Municipalities: Evidence from Oil Price Shocks." Journal of Risk and Financial Management 14, no. 6 (June 2, 2021): 248. http://dx.doi.org/10.3390/jrfm14060248.
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This study provides an empirical investigation of fiscal interactions in the context of a developing country. I examine three fiscal components—budget balance, tax revenue, and public spending—to measure spatial interactions between Colombian municipalities from 2000 to 2010. I am using variables on municipalities’ general characteristics, fiscal variables, and variables related to the conflict. I use a quasi-experimental identification strategy exploiting exogenous variation from global oil price shocks that affect Colombian municipalities to different degrees depending on local oil endowments. I find significant spatial interaction in taxes but no significant interaction concerning budget balance and total public spending. This suggests that even though there is local tax competition, municipalities do not mimic their neighbors to decide whether to offset tax changes by changes in borrowing or spending.
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Dunbar, Amy, and Stanley Veliotis. "The Effect of Taxes on Conventional Preferred Stock: Evidence from the 2003 JGTRRA Dividend Tax Reduction." Journal of the American Taxation Association 34, no. 1 (January 1, 2012): 87–111. http://dx.doi.org/10.2308/atax-10151.
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ABSTRACT This study examines the extent to which investor-level taxes affect the pricing and pre-tax returns of securities. Specifically, we investigate whether the pre-tax yield on outstanding conventional preferred stock (CPS) decreased after the 2003 Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) reduced the individual's tax rate on dividends. Our research design for detecting tax effects is strong for two reasons: (1) JGTRRA provides a quasi-experimental setting that permits a pre/post design, and (2) we use trust preferred stock (TPS) issued by the same firm as the tax-disfavored benchmark asset, which permits a matched-pair design that controls for risk. Additional tests including CPS issues without TPS counterparts confirm the effect of JGTRRA on CPS issues. The results indicate that investors reacted to the new tax-favored status of CPS by bidding up its price, which lowered its yield. Data Availability: All data are available from public sources identified in the paper.
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Zhu, Min, and Song Jing Wang. "Study on Public-Private Partnerships Financing Structure in Hydropower Project." Advanced Materials Research 524-527 (May 2012): 3172–76. http://dx.doi.org/10.4028/www.scientific.net/amr.524-527.3172.
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The hydropower, as the renewable energy, the development strategy of which is the important part of China’s whole energy development strategy in the 12th Five-Year Plan. The insufficient capital injection of government is the main restriction factor of the hydropower development. The paper introduces the Public-Private-Partnerships (PPP) theories and practices, combining with the situations of China’s tight financing policies, sufficient private capital stock and so on, analyses the main problems on China’s hydropower financing and then builds the PPP structure to solve the problems, expounds the advantages, supports and safeguard measures of PPP structure. The paper puts forward the ideas that considering the hydropower project is quasi commonweal infrastructure, it is necessary for the governments to give rational compensation or Taxes and dues preferential policies to the SPC in order to guarantee stable cash flow and reasonable return on investment.
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Han, Fei. "Measuring the Tax Incidence of Social Security Taxes in China: Evidence from a Quasi-Natural Experiment of Tax Collection Entity Shift." International Journal of Economic Behavior and Organization 8, no. 4 (2020): 101. http://dx.doi.org/10.11648/j.ijebo.20200804.13.
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Basu, Sanjay, Ankita Meghani, and Arjumand Siddiqi. "Evaluating the Health Impact of Large-Scale Public Policy Changes: Classical and Novel Approaches." Annual Review of Public Health 38, no. 1 (March 20, 2017): 351–70. http://dx.doi.org/10.1146/annurev-publhealth-031816-044208.
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Large-scale public policy changes are often recommended to improve public health. Despite varying widely—from tobacco taxes to poverty-relief programs—such policies present a common dilemma to public health researchers: how to evaluate their health effects when randomized controlled trials are not possible. Here, we review the state of knowledge and experience of public health researchers who rigorously evaluate the health consequences of large-scale public policy changes. We organize our discussion by detailing approaches to address three common challenges of conducting policy evaluations: distinguishing a policy effect from time trends in health outcomes or preexisting differences between policy-affected and -unaffected communities (using difference-in-differences approaches); constructing a comparison population when a policy affects a population for whom a well-matched comparator is not immediately available (using propensity score or synthetic control approaches); and addressing unobserved confounders by utilizing quasi-random variations in policy exposure (using regression discontinuity, instrumental variables, or near-far matching approaches).
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Łukomska, Julita, and Jarosław Neneman. "Local Taxes and Fees as a Source of Revenue for Polish Municipalities: Substitutes or Complements?" e-Finanse 14, no. 3 (September 1, 2018): 49–59. http://dx.doi.org/10.2478/fiqf-2018-0019.
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AbstractThe main purpose of this article is analysis of the relationship between local tax and fee policies in Poland. We argue that local authorities have similar and significant discretion over tax and fee policy and, therefore, they can be analysed in a similar way. Links between these policies are analysed to find out whether they are of complementary or substitutive nature. Panel data on 578 Polish municipalities from 2012 to 2016 includes information on property tax rates and tariffs for water provision and sewage disposal for households and companies and is used to run panel regression analysis and to perform a quasi-experiment. The results indicate that there is a relationship between tax and fee policies as well as that taxes and fees are complements for local authorities. Only when a property tax rate has reached a “ceiling”, the municipalities increase fees at a faster rate than comparable municipalities below the ceiling – in this case a fee can be regarded as a substitute for a tax.The paper is based on results of the “Fees for local public services - financial and political importance” research project. The project is funded by Narodowe Centrum Nauki (National Science Centre) grant number UMO-2015/19/B/HS4/02898
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Muennig, Peter, Daniel Vail, and Jahn K. Hakes. "Can antipoverty programmes save lives? Quasi-experimental evidence from the Earned Income Tax Credit in the USA." BMJ Open 10, no. 8 (August 2020): e037051. http://dx.doi.org/10.1136/bmjopen-2020-037051.
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ObjectiveTo estimate the impact of state-level supplements of the Earned Income Tax Credit (EITC) on mortality in the USA. The EITC supplements the wages of lower-income workers by providing larger returns when taxes are filed.SettingNationwide sample spanning 25 cohorts of people across every state in the USA.Participants793 000 respondents within the National Longitudinal Mortality Survey (NLMS) between 1986 and 2011, a representative sample of the USA.InterventionState-level supplementation to the EITC programme. Some, but not all, states added EITC supplementation to varying degrees beginning in 1986 (Wisconsin) and most recently in 2015 (California). Participants who were eligible in states with supplementary programmes were compared with those who were not eligible for supplementation. Comparisons were made both before and after implementation of the supplementary programme (a difference-in-difference, intent-to-treat analysis). This quasi-experimental approach further controls for age, gender, marital status, race or ethnicity, educational attainment, income and employment status.Primary and secondary outcome measuresThe primary outcome measure was survival at 10 years. Secondary outcome measures included survival at 5 years and survival to the end of the intervention period.ResultsWe find an association between state supplemental EITC and survival, with a HR of 0.973 (95% CI=0.951–0.996) for each US$100 of EITC increase (p<0.05).ConclusionState-level supplemental EITC may be an effective means of increasing survival in the USA.
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Voskresenskaya, E. V., and A. O. Zernov. "The Relationship between the Tax System and the Level of Corruption in Russia." Economics and Management 26, no. 3 (May 12, 2020): 291–96. http://dx.doi.org/10.35854/1998-1627-2020-3-291-296.
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The presented study examines the relationship between the tax system and the level of corruption in Russia.Aim. The study aims to provide a theoretical and methodological substantiation of the relationship and convergence between the tax system and the level of corruption in the Russian economy for the purposes of implementation of Russia’s economic security concept.Tasks. The authors examine the legislation on taxes and duties of the Russian Federation and the Russian anti-corruption legislation; examine the factors that affect the relationship between the tax system and the level of corruption in Russia and the country’s economic security; identify problems in the mutual influence of the tax system and the level of corruption caused by a low level of legal consciousness and extralegal approaches to the formation of the tax system that disregard theoretical foundations; substantiate recommendations for organizing a system of taxes and duties that would minimize the lobbying of economic and political forces in view of the objective social and public importance of the tax system for the country.Methods. The methodological basis of this study includes the fundamental provisions of modern economic theory, theory of public administration in taxation, and works on anti-corruption policy. The information basis of the study comprises the regulatory and legal acts of the Russian Federation on taxation and anti-corruption measures, Russian statistics on tax administration, and materials of national programs.Results. The study substantiates that at the current stage of development of the tax administration system it is possible to determine an objective trend: the Russian tax system has become an objective and substantial prerequisite for active impact of the quasi-legal tax system on the level of corruption, i.e. corrupt practices at the time of the establishment of the corresponding public relations have determined today’s acts of corruption.Conclusions. There is a close relationship between the tax system and the level of corruption in the country.
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Malone, Aaron. "(Im)mobile and (Un)successful? A policy mobilities approach to New Orleans’s residential security taxing districts." Environment and Planning C: Politics and Space 37, no. 1 (June 11, 2018): 102–18. http://dx.doi.org/10.1177/2399654418779822.
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Policy mobilities scholars critically analyze the processes of assemblage, mobilization, and mutation that shape policy circuits, but have been critiqued for an over-emphasis on successful and mobile cases. This paper adds to a growing effort to diversify the empirical scope of the field through an example that blurs the boundaries of mobility/immobility and success/failure. I examine residential security taxing districts, which are derived from the common business improvement district model but which in their specifics are unique to New Orleans. Security districts are quasi-public entities established within elite urban enclaves to collect taxes to fund neighborhood security patrols. First, I analyze the model’s rapid spread among the city’s neighborhoods, demonstrating the relevance of the policy mobilities framework in a case of intra-urban mobilization. Second, I explore why the model has not spread to other cities, particularly given New Orleans’s centrality as a site for neoliberal policy experimentation in the post-Katrina era. These post-disaster interventions applied preexisting policy prescriptions and were driven by outside experts, while the city’s own neoliberal experiments were ignored. Troubling the association of mobility and success, I conclude that this immobility should not be considered failure so much as anonymity.
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Holmes, P. J. "The Last Tudor Great Councils." Historical Journal 33, no. 1 (March 1990): 1–22. http://dx.doi.org/10.1017/s0018246x00013078.
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Henry VII called a number of Great Councils, as his predecessors had for at least two centuries before. Evidence has survived for five such Councils, held in 1487, 1488, 1491, 1496 and 1502. They advised the king on important matters of foreign policy and internal security, with the result that diplomatic and military action was taken and taxes were levied. They each lasted for perhaps two or three weeks, and were attended by lords spiritual and temporal, royal officials, and – on two occasions – by the elected representatives of boroughs. In three cases they coincided with meetings of the clergy in Convocation. Henry VII also held major sessions of his ‘ordinary’ council, lasting for several days at a time, sometimes for over two weeks, and attended by between twenty and sixty people; such large assemblies had been named ‘Great Councils’ in previous reigns, although under Henry VII this does not seem to have been the case. By the end of the Tudor period, by 1603, there is little question that both types of political assembly had disappeared; both the quasi-parliamentary Great Councils and the conciliar ‘Great Councils’. The purpose of this paper is to attempt to determine when this disappearance occurred and to offer some tentative suggestions as to how it happened and with what political consequences.
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Harasheh, Murad, Alessandro Capocchi, and Andrea Amaduzzi. "Firm Characteristics and Innovation Activity: A Study of Italian Family Firms." International Journal of Business and Management 13, no. 12 (November 15, 2018): 180. http://dx.doi.org/10.5539/ijbm.v13n12p180.
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Increasingly, innovation is seen as a novel leverage tool with which to create business and social value and thereby place its finders and users at a competitive advantage. Contemporary research suggests that the determinants of the innovation activity of firms are numerous. In this paper, we consider the financial and governance characteristics that might influence the innovation activity of a sample of 700 family firms in Italy. Our study was conducted over a 10-year period, from 2007 to 2016, using panel analysis models alongside robustness tests for the lagging effect and the probability regression as well as diagnostic statistics to ensure the use of an appropriate model. The results show that the existence of institutional investors, as a proxy for governance, has a persistent positive relationship with patent value, as a proxy for innovation, but not with the likelihood of being innovative. Moreover, financial indicators such as net working capital, earnings before interest, taxes, depreciation, and amortization, debt, and equity are found to explain innovation activity better than other indicators in both the panel and probability regressions. We also find very little significant difference between the sectors and regions featured in the study, suggesting that the relationship among them is quasi-systematic. Concluding the paper, our findings are discussed in relation to their policy implications and suggestions for further research are made.
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Tham, Kuen-Wei, Rosli Said, and Yasmin Mohd Adnan. "Interruptive Time Series Analysis of GST Upon Non-Performing Non-Housing Property Loans: Case Study from Malaysia." Asia-Pacific Management Accounting Journal 16, no. 1 (April 30, 2021): 35–58. http://dx.doi.org/10.24191/apmaj.v16i1-03.
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Value Added Taxes increases the cost of living and affect the ability of loan repayments indirectly. The introduction of the Goods and Services Tax (GST) in Malaysia in 2014 had garnered significant attention on its potential negative effects on the property industry. Coincidentally, there is a rise of non-performing non-housing property loans (NPNHLs) consisting of industrial and commercial property loans as GST was introduced and was in effect. The NPNHLs which consists of mainly industrial and commercial property loans faced a steep increase for the first time in 2014, after a long and consistent decline since 2007. From the inception stage of the GST to its effective implementation date, the Malaysian NPNHLs responded with a unique pattern that offers an opportunity for research. Hence, this study aimed to investigate and measure the intervention spill-over effects of GST upon the Malaysian NPNHLs. Utilizing a quasi-experimental design of interruptive time series regression analysis, it was found that there is a close and significant relationship between the implementation of GST and the rise of NPNHLs in Malaysia. The pre and post intervention of the GST regime was found to be in sync with the rise of non-performing non-housing property loans in Malaysia. Keywords: value added tax, goods and services tax, interruptive time series regression, Malaysia
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Lawman, Hannah G., Sara N. Bleich, Jiali Yan, Sophia V. Hua, Caitlin M. Lowery, Ana Peterhans, Michael T. LeVasseur, Nandita Mitra, Laura A. Gibson, and Christina A. Roberto. "One-year changes in sugar-sweetened beverage consumers’ purchases following implementation of a beverage tax: a longitudinal quasi-experiment." American Journal of Clinical Nutrition 112, no. 3 (July 3, 2020): 644–51. http://dx.doi.org/10.1093/ajcn/nqaa158.
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ABSTRACT Background Few longitudinal studies examine the response to beverage taxes, especially among regular sugar-sweetened beverage (SSB) consumers. Objective This study aimed to examine changes in objectively measured beverage purchases associated with the Philadelphia beverage tax on sugar-sweetened and artificially sweetened beverages. Methods A longitudinal quasi-experiment was conducted with adult sugar-sweetened beverage (SSB) consumers in Philadelphia (n = 306) and Baltimore (n = 297; a nontaxed comparison city). From 2016 to 2017 participants submitted all food and beverage receipts during a 2-wk period at: baseline (pretax) and 3, 6, and 12 mo posttax (91.0% retention; data analyzed in 2019). Linear mixed effects models were used to assess the difference-in-differences in total purchased ounces (fl oz) of taxed beverages in a 2-wk period in Philadelphia compared with Baltimore. Secondary analyses: 1) excluded weeks that contained major holidays at baseline and 12 mo (42% of measured weeks at baseline and 12 mo) because policy implementation timing necessitated data collection during holidays when SSB demand may be more inelastic, and 2) aggregated posttax time points to address serial correlation and low power. Results There were no statistically significant changes in purchased ounces of taxed beverages in Philadelphia compared with Baltimore in the primary analysis. After excluding holiday purchasing, the tax was associated with statistically significant reductions of taxed beverage purchases at 3 and 6 mo (−157.1 ounces, 95% CI: −310.1, −4.1 and −175.1 ounces, 95% CI: −328.0, −22.3, respectively) but not 12 mo. Analyses aggregating all 6 wk of posttax time points showed statistically significant reductions (−203.7 ounces, 95% CI: −399.6, −7.8). Conclusions A sweetened beverage tax was not associated with reduced taxed beverage purchases among SSB consumers 12 mo posttax in the full sample. Both secondary analyses excluding holiday purchasing or aggregating posttax time periods found reductions in taxed beverage purchases ranging from −4.9 to −12.5 ounces per day. Larger longitudinal studies are needed to further understand tax effects.
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Weidenfeld, Katia, and Alexis Spire. "Punishing tax offenders in France and Great Britain: two criminal policies." Journal of Financial Crime 24, no. 4 (October 2, 2017): 574–88. http://dx.doi.org/10.1108/jfc-05-2016-0030.
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Purpose Since 2008-2009, the governments in France and Great Britain have encouraged more rigorous penalization of tax evaders. This paper aims to investigate the implementation of these policies on the basis of an important and original empirical material. Design/methodology/approach The study done in France relies on interviews conducted with representatives of law enforcement agencies on public statistics and on an innovative database compiled from nearly 600 cases submitted to the judiciary. The comparison with Great Britain is developed through interviews conducted with different participants in the fight against tax fraud and statistical information. Findings This paper describes the recent evolution of the machinery for screening tax-related wrongdoings in France and in the UK. It demonstrates that whilst publicly calling for harsh punishment against tax dodgers, in practice, both governments tend to seek a balance between the growing demand for tax equality and the belief that the State should not intervene in the economic realm. This strategy leads to the over-representation of certain categories of taxpayers. Despite the commonalities resulting from the numerous filters before prosecution, the penal strategy takes on two different shapes on either side of the Channel: whereas the British institutions support an “exemplary punitive” system, French regulatory system favours a “quasi-administrative” treatment. The French tax authority continues to use the criminal procedures mainly as a financial instrument for the improved restitution of stolen taxes. The policy of Her Majesty’s Revenue and Customs, supported by the “Sentencing Guidelines”, aims much more at obtaining exemplary convictions. Originality/value Based on a large empirical material, this paper highlights the different outcomes of the criminal trials against tax evaders in the two countries.
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Lacasse, Jean-Paul. "L’accès aux ressources et l’Accord de libre-échange Canada — États-Unis." Revue générale de droit 19, no. 1 (April 25, 2019): 127–50. http://dx.doi.org/10.7202/1059190ar.
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L’Accord de libre-échange Canada — États-Unis reflète les objectifs différents des deux parties eu égard aux échanges de ressources naturelles. Comme ceux-ci se font dans une direction surtout, soit du Canada vers les États-Unis, le premier recherchait un meilleur accès au marché américain alors que les seconds voulaient, pour leur part, s’assurer d’un meilleur accès aux ressources elles-mêmes. Diverses dispositions de l’Accord, comme celles visant l’élimination progressive des tarifs, l’interdiction de taxes, droits ou frais particuliers à l’exportation de l’énergie, la quasi-élimination des restrictions à l’importation ou à l’exportation, la sauvegarde des intérêts de chaque partie à l’encontre de mesures protectionnistes de la part de l’autre partie par le biais de l’instauration d’un mécanisme de règlement des différends ou encore le partage des approvisionnements énergétiques en cas de pénurie font en sorte que ces objectifs devraient être atteints. De plus, malgré le fait que l’Accord comporte des insuffisances et que certains problèmes se posent quant à son application, celui-ci devrait être avantageux pour les deux parties relativement aux échanges de ressources naturelles. En effet, l’Accord devrait améliorer la rentabilité de l’industrie extractive, permettre à celle-ci de mieux faire face à la concurrence sur les marchés mondiaux, augmenter le niveau d’emploi dans le secteur et assurer un meilleur climat pour les investissements. Les lois et politiques existantes sont en général maintenues. Par ailleurs, le rôle de certains organismes gouvernementaux et en particulier celui de l’Office national de l’énergie devra être modifié pour tenir compte des dispositions de l’Accord. Certains se sont objectés, de part et d’autre de la frontière, aux dispositions de l’Accord. Mais dans un contexte où l’Accord constituait l’alternative au protectionnisme, celui-ci devrait profiter aux deux parties tant pour ce qui a trait à l’accès, de part et d’autre, aux ressources naturelles qu’à l’accès aux marchés pour celles-ci.
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Kholopov, A. "Macroeconomic Policy at a Crossroads." World Economy and International Relations 65, no. 7 (2021): 5–15. http://dx.doi.org/10.20542/0131-2227-2021-65-7-5-15.
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The article examines macroeconomic policy options for advanced economies to respond to adverse shocks in the environment of very low interest rates and very high levels of public debt, when the scope for using conventional policy tools is limited. The standard transmission mechanism of monetary policy in the ELB conditions stops working normally, and the economy faces the “liquidity trap” effect. The deployment by central banks of unconventional monetary tools (forward guidance, quantitative easing, and negative interest rates) after global financial crisis was helpful in combatting the downturn, but carries risk of possible side effects. Large-scale purchases of financial assets lead to significant increase in central banks’ balance sheets, and this creates a threat to future financial stability and central bank independence. Negative interest rates can have detrimental effects on bank profitability and be contractionary through bank lending. There is a consensus that today fiscal policy has to play a major role in stabilizing the business cycle. But the effectiveness of conventional tools of discretional fiscal policy is uncertain because of long political lags and small spending multiplier. Existing automatic fiscal stabilizers are focused on social protection goals and not on macroeconomic stabilization. Thus, the newly proposed measures for rules-based fiscal stimulus (asymmetric semiautomatic stabilizers – tax or spending measures triggered by the crossing of some statistical threshold, e.g. a high unemployment rate) and unconventional fiscal policy (the use of consumption taxes to increase inflation expectations) have become the object of active discussion. Here lies the danger in the fusion of monetary and fiscal policy: central banks’ operations are becoming increasingly quasi-fiscal, aimed at financing budget deficit, and functions of monetary policy are proposed to assign to fiscal policy. Besides, the expansion of fiscal stimulus threatens financial stability in the future, as it leads to increase in public debt and narrows a country’s fiscal space.
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Van Zyl, SP. "The Value Added Tax Implications of Illegal Transactions." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 14, no. 4 (June 8, 2017): 319. http://dx.doi.org/10.17159/1727-3781/2011/v14i4a2592.
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In the case of MP Finance Group CC (In Liquidation) v CSARS the High Court of Appeal ruled that income "received by" a taxpayer from illegal gains will be taxable in the hands of the taxpayer. This article explores whether or not the decision in the MP Finance-case (and preceding cases on the taxation of illegal receipts) can be applied to determine if illegal transactions are subject to VAT and moreover if a trader in illegal goods and services should register as a VAT vendor. Although strictly speaking no analogy can be drawn between the charging provisions for income tax and VAT, it is clear that in the determination of the taxability of illegal income, the courts applied the principle of tax neutrality. In terms of the principle of tax neutrality, taxes are not concerned with the legality or illegality of a transaction, but rather with whether the transaction complies with the requirements for it to be taxed or not. That said, the European Court of Justice has a different approach in applying this principle. According to the European Court of Justice where the intrinsic nature of the goods excludes it from the commercial arena (like narcotic drugs) it should not be subject to VAT, but where the goods compete with a legal market it must be subject to VAT. Charging VAT on illegal transactions might give the impression that government benefits from criminal activities. However, if illegal transactions are not subject to VAT the trader in illegal goods will benefit as his products will be 14% cheaper than his rival’s. Is this necessarily a moral dilemma? In conclusion three arguments can be deduced on the question if illegal transactions should be subject to VAT:1. Illegal transactions should not be taxed at all. Illegal goods or services fall outside the sphere of the application of the charging provision in section 7(1) of the VAT Act. Moreover, taxing illegal transactions lends a quasi-validity to the contract and gives the impression that government benefits from crime.2. The intrinsic nature of the goods concerned should determine the VAT-ability thereof. Where the nature of the goods excludes it from the commercial sphere, like narcotics, it should not be subject to VAT. Where the illegal goods compete with a legal market the goods should be subject to VAT to eliminate unjust competition.3. The principle of tax neutrality makes it clear that the illegality of a transaction has no influence on its taxability. The charging provision in terms of section 7(1) of the VAT act is not concerned with the legality of the transaction. If the transaction complies with the requirements for it to be taxed, it should be subject to VAT.
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Babenkova, Svetlana Yu. "Economical Transformation of Shadow Economy of Arab Countries in the Modern World." Outlines of global transformations: politics, economics, law 10, no. 4 (November 28, 2017): 158–77. http://dx.doi.org/10.23932/2542-0240-2017-10-4-158-177.
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Is such phenomenon as Shadow Economy possible in the Arab (Muslim) countries? In terms of scientific approach as the presence of positive (legal) economy will always have its antipode – the presence of negative (shadow or illegal) economy and no matter which country will have these economic types. Of course, the percentage of legal and shadow economy varies in different countries. At the same time, the volumes of shadow economy are independent of the main religion professed by the population or of the part of the world where the country is situated (countries with Islam as the main religion have a less volume of shadow economy in comparison with countries having Christianity as a predominant religion, and the richest oil countries in the MENA region have bigger volumes of shadow economy than some Western European countries). The causes of shadow economy and the prerequisites of its inception are largely the same by its socio-economic nature. The sources of economical problems lie in the imbalance between limited resources at the disposal of people or a state and in the open-endedness of ever-growing needs of economic agents. It is precisely on these contradictions numerous financial and economic crises appear. It may also be noted that the wish to possess the largest possible quantity of resources leads to the foreignpolicy struggle between countries which results in wars, conflicts, economic sanctions. Recently, the countries of Arab East have been experiencing systemic crisis. Over the past 10 years economic benefits have been redistributed, the map of the region has been redrawn, and moral guidelines of the society have been shifting. This is acutely seen in the events taking place in Libya, Syria, Iraq, and Yemen. Islamic financial institutions and markets, which were less of a financial and more of moral and ethical basis of the Arab countries, currently are taking an exam on “stress tests”. Countries devastated by wars, crisis in oil monarchies, unemployment, enormous migration flows, “black market” growing at a geometric rate – can all these humanistic and social guidelines, which Islamic scientists focus on in the relationships between people, people and authorities, people and God, prevail all this? The transformation of shadow economy in the Arab Region sharply has taken place over the past 10 to 15 years, partly due to the interference of Major Powers (statistics on the economy clearly demonstrate that before the events of Arab Spring and military conflicts non-oil-producing Arab countries had an enormous potential of development on key indicators). The middle class, the business community of Arab countries adapts to circumstances arising in today’s realities carrying out its activities in the shadow or quasi-legal sector of the economy. They don’t feel support from the state concerned about issues of the maintenance of stability by introducing tough tax, control and restrictive measures. In this regard probably appropriate phrase: “One does what one must to survive!” Regional Powers fight for their political and economical independence, the population of these Powers live to work and secure any future to themselves and their families. The issues of the shadow economy do not fall within economic relationships, they are relevant to social or spiritual relationships which are transforming in the modern world regardless of the value of taxes collected or level of GDP.
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Atanassov, Julian, Vineet Bhagwat, and Xiaoding Liu. "Taxes and Merger Activity: Evidence From a Quasi-Natural Experiment." SSRN Electronic Journal, 2020. http://dx.doi.org/10.2139/ssrn.3649155.
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Benzarti, Youssef, and Jarkko Harju. "Using Payroll Tax Variation to Unpack the Black Box of Firm-Level Production." Journal of the European Economic Association, March 13, 2021. http://dx.doi.org/10.1093/jeea/jvab010.
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Abstract This paper uses quasi-experimental variation in payroll tax rates in Finland to investigate how firms use their input factors. We find that higher payroll tax rates lead to large employment responses and have no effects on employee-level earnings. As payroll taxes increase, firms substitute away from low-skilled, routine, and manual workers. Higher firm-level payroll tax rates also slightly decrease the total output of firms. Our results imply that firm-level production and input factor choices are clearly affected by payroll taxes.
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Johnston, Andrew C. "Unemployment Insurance Taxes and Labor Demand: Quasi-Experimental Evidence from Administrative Data." SSRN Electronic Journal, 2017. http://dx.doi.org/10.2139/ssrn.3062412.
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Amberger, Harald J., Kevin S. Markle, and David M. P. Samuel. "Repatriation Taxes, Internal Agency Conflicts, and Subsidiary-level Investment Efficiency." Accounting Review, July 28, 2020. http://dx.doi.org/10.2308/tar-2019-0259.
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Using a global sample of multinational corporations (MNCs) and their foreign subsidiaries, we find that repatriation taxes impair subsidiary-level investment efficiency. Consistent with internal agency conflicts between the central management of the MNC and the manager of the foreign subsidiary being the driver, we show that this effect is concentrated in subsidiaries with high information asymmetry and in subsidiaries that are weakly monitored. Quasi-natural experiments in the UK and Japan establish a causal relationship for our findings and suggest that a repeal of repatriation taxes increases subsidiary-level investment efficiency while reducing the level of investment. Our paper provides timely empirical evidence to inform expectations for the effects of a recent change to the U.S. international tax law that eliminated repatriation taxes from most of the future foreign earnings of U.S. MNCs.
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Hanson, Andrew. "Taxes and Economic Development: An Update on the State of the Economics Literature." Economic Development Quarterly, June 14, 2021, 089124242110228. http://dx.doi.org/10.1177/08912424211022832.
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There is a large literature examining the effect of taxes and tax concessions on local economic development. The last comprehensive review of taxes and economic development, however, was Wasylenko’s review in 1997, which mostly examined the location response of firms. Subsequent to the last major review of the literature, empirical work in this area sought to address endogeneity concerns that plagued previous studies, resulting in a series of compelling new studies. This article reviews the empirical literature on tax-based economic development incentives produced since Wasylenko’s 1997 review and covers property tax (including tax increment financing and business improvement districts); spatially targeted and zone-based tax concessions; firm-specific incentives; and corporate income taxes. The review focuses on academic studies that employ modern program evaluation or quasi-experimental techniques and U.S.-based policies.
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Øvrebø, Bente, Torleif B. Halkjelsvik, Jørgen R. Meisfjord, Elling Bere, and Rannveig K. Hart. "The effects of an abrupt increase in taxes on candy and soda in Norway: an observational study of retail sales." International Journal of Behavioral Nutrition and Physical Activity 17, no. 1 (September 14, 2020). http://dx.doi.org/10.1186/s12966-020-01017-3.
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Abstract Background Fiscal policies are used to promote a healthier diet; however, there is still a call for real-world evaluations of taxes on unhealthy foods and beverages. We aimed to evaluate the effect of an abrupt increase, of respectively 80 and 40%, in the excising Norwegian taxes on candy and beverages on volume sales of candy and soda. We expected sales to fall. Methods We analyzed electronic point of sale data covering approximately 98% of volume sales of grocery stores in Norway. In two pre-registered models with weekly (log-)sales of taxed candy and soda from 3884 individual stores, we modeled the difference between the jump (discontinuity) in the trend around the time of the increase in taxes and the corresponding jump in the trend in a control season from the previous years (Model 1). In addition, we modeled the difference between the intervention and the control season in their changes in average sales (Model 2). Results Model 1 showed a 6.1% (one-sided 95% CI: not applicable (NA), 23.4, p-value = 0.26) increase and a − 3.9% (95% CI: NA, 4.9, p-value = 0.23) reduction in the differences in the jump in the trends, for candy and soda, respectively. The second model showed a relative decrease of − 4.9% (95% CI: NA, 1.0, p-value = 0.08) in the average sales of candy and an increase of 1.5% (95% CI: NA, 5.0, p-value = 0.24) in sales of soda. Supplementary analyses suggested that the results were sensitive to clustering on the time dimension. Conclusions When using two different quasi-experimental designs to model changes in volume sales of taxed candy and soda, we were not able to detect reductions in sales that coincided with an increase in the taxes. Variation across time makes it difficult to detect potentially small changes in sales even when using an entire country’s worth of sales data on the level of individual stores. We speculate that the tax increases were too modest to affect the prices to alter sales sufficiently.
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Ngqangashe, Yandisa, Sharni Goldman, Ashley Schram, and Sharon Friel. "A narrative review of regulatory governance factors that shape food and nutrition policies." Nutrition Reviews, May 20, 2021. http://dx.doi.org/10.1093/nutrit/nuab023.
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Abstract Food composition, marketing restrictions, nutrition labeling, and taxation policies are recommended for preventing diet-related noncommunicable diseases. In view of the increasing but variable adoption of food policies globally, this narrative review examines the actors, regulatory frameworks, and institutional contexts that shape the development, design, and implementation of these policies. We found a diverse range of actors using various strategies, including advocacy, framing, and evidence generation to influence policy agendas. We identified diverse regulatory designs used in the formulation and implementation of the policies: command and control state regulation for taxes and menu labels, quasi-regulation for sodium reformulation, and co-regulation and industry self-regulation for food marketing policies. Quasi-regulation and industry self-regulation are critiqued for their voluntary nature, lack of independence from the industry, and absence of (or poor) monitoring and enforcement systems. The policy instrument design and implementation best practices highlighted in this review include clear policy goals and rigorous standards that are adequately monitored and enforced. Future research should examine how these combinations of regulatory governance factors influence policy outcomes.
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Venâncio, Ana, Victor Barros, and Clara Raposo. "Corporate taxes and high-quality entrepreneurship." Small Business Economics, November 12, 2020. http://dx.doi.org/10.1007/s11187-020-00413-0.
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Abstract We examine the impact of corporate taxation on entrepreneurship, using a quasi-natural experiment, which substantially reduced the corporate tax rate for start-ups located in inland municipalities in Portugal. Using a difference-in-differences approach and IV regression, we find that the tax reform increased firm entry and new firm job creation. The entrepreneurs who took advantage of this tax reform are relatively older, and are better-educated individuals. Their start-ups are relatively larger, more productive, and are more likely to survive the first 3 years. These findings suggest that corporate taxation is an imperative constraint for entrepreneurship, particularly for high-quality entrepreneurs. These better-educated individuals find it easier to overcome the hurdles of tax legislation and to make use of the opportunities created by a specific tax reform.