This paper investigates the impact of taxation on firm survival, using hazard models and a large-scale panel dataset on over 4 million nonfinancial firms from 21 countries over the period 1995-2015. We find ample evidence that a lower level of effective marginal tax rate improves firms' survival...

This paper discusses the benefits and challenges of implementing a rule-based fiscal responsibility framework, using the Philippines as a case study. It estimates structural measures of the fiscal stance over the period 1980-2016 and applies a stochastic simulation model to determine the optimal...

Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to climate change. This paper applies the model-based sustainability test for fiscal policy in a panel of 16 Caribbean countries during the period 1980-2018. The results indicate that...

Despite the significant progress in recent years, Pakistan's tax revenue remains low relative to comparator countries and the tax effort expected for the country's level of development. In light of the potential endogenity of tax revenue and economic growth, this paper contributes to the...