Open AccessThe impact of taxes effects on the economic growth of developing countries in ASIA
Author(s) -
Văn Thuận Nguyễn,
Xuân Hằng Trần,
Minh Hằng Nguyễn,
Thị Kim Chi Ng
Publication year - 2022
Publication title -
tài chính-marketing
Language(s) - English
Resource type - Journals
ISSN - 1859-3690
DOI - 10.52932/jfm.vi60.4
Subject(s) - openness to experience , generalized method of moments , economics , panel data , inflation (cosmology) , government expenditure , developing country , estimation , macroeconomics , government spending , economic expansion , international economics , government (linguistics) , monetary economics , econometrics , public finance , economic growth , welfare , market economy , psychology , social psychology , linguistics , philosophy , physics , management , theoretical physics
The objective of the study is to examine the impact of taxes on economic growth in developing countries in Asia during 18-year period (2000-2017). Using the estimation methods of OLS, FEM, REM, GLS and two-step system generalized method of moments (S-GMM) for panel data. Empirical results show that taxation has a positive impact on economic growth at level of 1%, while the most studies consider this to be a negative relationship. Besides, factors such as government spending, trade openness, inflation also have a significant impact on economic growth. On that basis, the study provides some policy suggestions for tax policies in these countries.