Taxation and Economic Development among Pacific Asian Countries

By Richard A. Musgrave; Ching-Huei Chang et al. | Go to book overview

as the tax effort index model shows, the Korean economy can accommodate an increase in its tax burden. Thus, increasing tax revenue should prove to be the most effective method for financing Korea's social development.


Notes
1.
Social development expenditures include expenditures for health, social security, and housing and regional development.
2.
The indices are computed as follows:

(actual value of governmental expenditures/GDP) x 100/
(expected value of government expenditures/GDP)

For example, if a country has an index greater than 100, it means that its government expenditure is higher than expected considering the country's socioeconomic conditions.

3.
The Korean public has long been preoccupied with fiscal inflation, and therefore the major issue involved in the increase of government expenditure has always been how it would affect the stability of the economy.
4.
For example, the practice of using pseudo-names to avoid taxation of financial assets should be made a crime and a real-name system in financial assets should be established.
5.
The purpose of tax effort analysis is discussed in greater detail in Bird ( 1976).
6.
In addition to the regression analysis, there is an analysis of a representative tax system to compute the tax effort index. Broader analyses on this topic can be found in Bahl ( 1971), Tait and Eichengreen ( 1978), and Newlyn ( 1985).
7.
Per capita GNP has many defects. For example, if there is severe inflation and the exchange rate is not evaluated at the optimal level, then comparing the per capita GNP between countries is inaccurate. In this chapter, the data from the World Bank Atlas are used to avoid that problem.
8.
Earlier studies of this sort include Lotz and Morss ( 1967), Chelliah ( 1971), and Bahl ( 1971).
9.
In this chapter, the following three different groups were used in the model estimation: (1) the 102-country case, (2) the 79-developing-countries case, in which the 21 OECD countries and 2 high-income oil exporters were excluded, and (3) the 58-middle-income-countries case, derived by subtracting the number of countries with GNP below $400 from case 2. The estimated results for the developing- and middle-income-countries cases are in Appendix 1. The estimated results using different data periods are summarized in Appendix 2.
10.
The tax effort indices of Korea in the 102 country case (includes developing, industrial, and middle-income countries) varied from 85.66 to 93.14, in the 79-developing-countries cases from 86.50 to 93.49, and in the 58-middle-income countries cases from 84.01 to 91.18. Furthermore, the indices also varied from 83.53 to 91.48 and from 86.71 to 95.35 when different data periods were used. Thus Korea's tax effort ind ices are below 100 in every case. More details are found in Appendix 3.

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Taxation and Economic Development among Pacific Asian Countries
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • 1 - Introduction 1
  • Notes 10
  • 2 - Indonesian Tax Reform, 1985-1990 11
  • Notes 41
  • References 42
  • 3 - The Tax System and Economic Development in Japan 44
  • Notes 61
  • References 62
  • 4 - Tax Reform in the Philippines 64
  • Notes 80
  • 5 - Tax Reform in Malaysia: Trends and Options 82
  • Notes 100
  • References 101
  • 6 - Property Taxation as a National Policy Tool in Taiwan 104
  • Notes 116
  • References 116
  • Notes 137
  • References 138
  • 8 - Effective Corporate Tax Rates on Capital Income in Hong Kong 140
  • Notes 153
  • 9 - Tax Policy and Business Investment: Taiwan's Manufacturing Industry 156
  • Notes 165
  • References 167
  • 10 - The International Dimension of Korean Tax Policy 168
  • Notes 191
  • References 192
  • 11 - Tax Incentives for Export Promotion in Japan, 1953-1964 194
  • Notes 207
  • References 208
  • 12 - International Aspects of Income Taxation in Taiwan 210
  • Notes 221
  • References 223
  • 13 - Financing Social Security in Singapore Through the Central Provident Fund 225
  • Notes 255
  • References 255
  • 14 - A New Role for Fiscal Policy and Tax Finance in Korea 259
  • Notes 275
  • References 276
  • About the Book 280
  • About the Editors and Contributors 281
  • Index 283
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