Tax reforms and fiscal stabilization in Latin American countries
Includes bibliography
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| Lenguaje: | English |
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CEPAL
2014
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| Acceso en línea: | http://hdl.handle.net/11362/7300 |
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oai-11362-73002020-09-29T15:36:06Z Tax reforms and fiscal stabilization in Latin American countries Martner Fanta, Ricardo Tromben, Varinia NU. CEPAL NU. CEPAL. ILPES ADMINISTRACION FINANCIERA ADMINISTRACION FISCAL HACIENDA PUBLICA POLITICA FISCAL SISTEMAS TRIBUTARIOS TRIBUTACION FINANCIAL MANAGEMENT FISCAL POLICY PUBLIC FINANCE TAX ADMINISTRATION TAX SYSTEMS TAXATION Includes bibliography The fiscal burden in OECD (Organisation for Economic Co-operation and Development) countries more than doubles the overall taxation level in Latin American countries. In terms of revenue composition, OECD countries collect a larger share from direct taxes; there is also a greater component from social contributions. During the nineties, the revival of economic growth and the design of better tax systems enabled fiscal revenues to recover strongly, reaching an increase of 3 points of GDP (Gross Domestic Product). However, this effort has not been sufficient, considering the dynamics of public debt in an environment of high interest rates and low growth. In this paper, the main trends of tax burden and composition of tax revenues in Latin American countries are described, and then the short-term tax-gap, as OECD has defined it, are calculated for 18 countries. The reversal of economic cycle makes impossible to fill this gap in the short term without significant macroeconomic costs. Some room of manoeuvre, namely a cyclical safety margin, has to be considered. The magnitude of this cyclical safety margin is very significant, because of the volatility of output and the high value of tax elasticities, despite the relatively minor size of public sector when compared to OECD standards. If fiscal policy is more efficient when letting operate automatic stabilisers, then second generation" macro fiscal rules will have to address on the issue of the pronounced pro-cyclical bias that defined fiscal policies in the nineties in many Latin American countries." 2014-01-02T16:47:02Z 2014-01-02T16:47:02Z 2004-06 Texto Documento Completo 9211214483 http://hdl.handle.net/11362/7300 LC/IP/L.244 LC/L.2145-P en Serie Gestión Pública 45 application/pdf AMERICA LATINA LATIN AMERICA CEPAL |
| institution |
Cepal |
| collection |
Cepal |
| language |
English |
| topic |
ADMINISTRACION FINANCIERA ADMINISTRACION FISCAL HACIENDA PUBLICA POLITICA FISCAL SISTEMAS TRIBUTARIOS TRIBUTACION FINANCIAL MANAGEMENT FISCAL POLICY PUBLIC FINANCE TAX ADMINISTRATION TAX SYSTEMS TAXATION |
| spellingShingle |
ADMINISTRACION FINANCIERA ADMINISTRACION FISCAL HACIENDA PUBLICA POLITICA FISCAL SISTEMAS TRIBUTARIOS TRIBUTACION FINANCIAL MANAGEMENT FISCAL POLICY PUBLIC FINANCE TAX ADMINISTRATION TAX SYSTEMS TAXATION Martner Fanta, Ricardo Tromben, Varinia Tax reforms and fiscal stabilization in Latin American countries |
| description |
Includes bibliography |
| author2 |
NU. CEPAL |
| author_facet |
NU. CEPAL Martner Fanta, Ricardo Tromben, Varinia |
| format |
Texto |
| author |
Martner Fanta, Ricardo Tromben, Varinia |
| author_sort |
Martner Fanta, Ricardo |
| title |
Tax reforms and fiscal stabilization in Latin American countries |
| title_short |
Tax reforms and fiscal stabilization in Latin American countries |
| title_full |
Tax reforms and fiscal stabilization in Latin American countries |
| title_fullStr |
Tax reforms and fiscal stabilization in Latin American countries |
| title_full_unstemmed |
Tax reforms and fiscal stabilization in Latin American countries |
| title_sort |
tax reforms and fiscal stabilization in latin american countries |
| publisher |
CEPAL |
| publishDate |
2014 |
| url |
http://hdl.handle.net/11362/7300 |
| work_keys_str_mv |
AT martnerfantaricardo taxreformsandfiscalstabilizationinlatinamericancountries AT trombenvarinia taxreformsandfiscalstabilizationinlatinamericancountries |
| _version_ |
1718437583682273280 |