In an endogenous growth model with public consumption and public investment, we explore the time-consistent optimal choice for two policy instruments: an income tax rate and the split of government spending between consumption and investment. We show that under the time-consistent, Markov...

In an endogenous growth model with public consumption and investment and an elastic labour supply, we explore the time-consistent optimal choice for two policy instruments: an income tax rate and the split of government spending between consumption and investment. We compare the Markovian...

In 2009 a flat tax reform was implemented in the Kyrgyz Re public following similar reforms in neighbor countries and efficiency reasons. This paper discusses problems in the Kyrgyz personal income taxation arising after the reform, when progressive income tax rates were changed to a flat rate....

We explore the implications of incorporating an elastic labor supply in an endogenous growth economy when characterizing the time-consistent Markov policy. We consider two policy instruments: an income tax rate and the split of government spending between consumption and production services. The...

The statistical data on value added by sector at current prices, value added by sector at constant prices, GDP by expenditure at current prices, consumer prices, population estimates, employment in the public sector, summary of the operations of the public sector and operations of the central...

This report discusses major developments in the Lao People’s Democratic Republic (PDR), and updates the statistical tables on recent economic developments and provides an overview of the real sector. Factors that have limited revenue collections and developments in the monetary and...

The structure of Japan's corporate income tax system is broadly in line with those of other G7 countries. However, relatively high marginal and average effective tax rates prompt the question of whether adjustments should be considered to meet the objectives of promoting growth, investment and...

This paper examines tax policy and tax reforms in Uganda. Using household survey evidence, the paper identifies which taxes are progressive and investigates whether tax reforms have made the poor better or worse off. Household survey analysis reveals that some of the tax reforms implemented in...

This paper identifies tax factors in 21 developing countries that have an impact on foreign direct investment flows. It categorizes those factors into issues associated with tax coordination; tax rates and rate structures; and composition of the tax base. Recent actions by countries reveal no...

Investment-to-GDP ratios across the Caribbean tend to be relatively high. In many countries, these ratios have been trending higher since the mid-1990s, largely reflecting public investment and foreign direct investment. Private domestic investors have been less prominent. This may be one reason...