Assessment of the government debt position impact on the general taxation policy
2015
Semjonova, N., Riga Technical Univ. (Latvia)
During recent financial crisis number of researchers investigated mutual influence of government debt on the fiscal policy. The present paper contributes to this topic by observational analysis of the world economics, having the goal to evaluate correlation between the value of debt and tax policy indicators over the recession period. The paper analyses public data on 176 countries, extracted from the IMF and the World Bank databases. The findings demonstrate general absence of correlation between the volumes of the state debt and the amounts of the collected taxes both in short-term and long-term perspective. This implies that world countries tend to increase debt and use refinancing to pay debt service costs to keep taxes at the present level at all costs.
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