Taxpayer Apathy, Institutional Inertia, and Economic Growth*

1999 ◽  
Vol 17 (1) ◽  
pp. 3-10 ◽  
Author(s):  
James M. Buchanan
Keyword(s):  
Economic Growth ◽  
Economic Reforms ◽  
Real Income ◽  
Income Growth ◽  
The Real ◽  
Ultimate Failure ◽  
Real Growth ◽  
The Difference

Abstract This paper analyzes the difference in taxpayers’s attitudes toward fiscal politics during the 1970s - early 1980s, a period dominated by «taxpayer revolt», and those observed in the late 1990s, when taxpayers show an apparent state of apathy. The answer is that taxpayers where unhappy in the late 1970s and early 1980s because their effective real incomes were being reduced in a period of stagnant growth with inflation. They remained quiescent in the last years because taxes are extracted from them during a period of real income growth and low inflation. Paradoxically, the economic reforms that the earlier tax revolt set off may have generated the real growth that has made die ultimate failure of the movement emerge.

EXPORT, ECONOMIC GROWTH AND CAUSALITY – A CASE FOR INDIA.

2013 ◽  
Vol 9 (1) ◽  
pp. 21-28
Author(s):  
Shamurailatpam Sofia Devi
Keyword(s):  
Economic Growth ◽  
Causal Relationship ◽  
Growth Process ◽  
Economic Reforms ◽  
The Real ◽  
Indian Economy ◽  
Goods And Services ◽  
Real Gdp ◽  
Main Emphasis

This paper examines the causal relationship between the real GDP and the total export of goods and services produced in India during the period 1990-91 to 2011-12. The main emphasis is to substantiate the importance of exports in the growth process of Indian economy after the economic reforms taken up in the early part of the 90s’ In other words, the study is to see the validity of economic strategy of export-led growth in case of India. The empirical findings of the study indicated that there is a bi-directional causality between GDP and export of the economy. And the hypothesis that export-led-growth is valid in case of the Indian economy for the period under study.

scholarly journals The Contribution of Agricultural Manufacturing in the Egyptian Economic Growth: Kaldor's Hypotheses

2021 ◽  
pp. 156-166
Author(s):  
Ahmed Abou El-Yazid El-Rasoul ◽  
Mai Mustafa Hassan Morsi ◽  
Mohamed Ibrahim Younis
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Labor Productivity ◽  
Manufacturing Industry ◽  
Agricultural Sector ◽  
Manufacturing Sector ◽  
Least Square ◽  
Manufacturing Industries ◽  
The Real ◽  
Real Growth

This research uses a Kaldor’s hypotheses to estimate the contribution of the agricultural manufacturing sector to increase the economic growth of the Egyptian agricultural sector during the period 1997-2018. It based on the three "hypotheses" of growth. Kaldor model depends on three hypotheses related to the relationship between the growth of manufacturing sector and the economic growth. The study used the growth rate, dummy variable, Ordinary Least Square (OLS) test, and used CUSUM squares test and Chow breakpoint test. In addition to, testing the stability of time series depended on E-view 11.0. The food, beverage, tobacco industries and textiles industry are the largest two sectors in the Egyptian agricultural manufacturing industries, as they represent about 83.58% of the total value of the agricultural manufacturing industries output during the period 1997-2018. The results shows that the increase of real growth rates of food, beverage, tobacco industries and textile production lead to increasing in the real growth rate of agricultural output. According to CUSUM Sq test and Chow test, the year 2003 is considered as the switch point for the study variables. Also, if the real agricultural manufacturing production growth rate increases, the real agricultural manufacturing labor productivity growth rate will increase. And if the real growth rate of agricultural manufacturing production value increases, the real growth rate of agricultural non-manufacturing labor productivity will increase. The results of the research assist decision-makers in the field of manufacturing industry and agriculture in Egypt, especially in the stages of economic development.

Inequality amid Stagnation

2018 ◽  
Author(s):  
Andrea Brandolini ◽  
Romina Gambacorta ◽  
Alfonso Rosolia
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Economic Crisis ◽  
Turning Point ◽  
Global Financial Crisis ◽  
Real Income ◽  
Income Growth ◽  
Macroeconomic Performance ◽  
Major Turning Point ◽  
The Global Financial Crisis

This chapter describes how inequality and real incomes evolved in Italy from the 1980s through the double-dip recession it experienced after the Global Financial Crisis. It brings out how the crisis Italy experienced in the early 1990s marked a major turning point, with inequality increasing and economic growth subsequently low. The labour market and tax–transfer reforms implemented in the following years are also discussed. The severe impact of the economic Crisis and very limited recovery seen to date reinforce pre-existing cleavages across the generations and geographically. Substantially improved macroeconomic performance is seen as central to the restoration of significant real income growth for ordinary households.

Growing into Trouble: Institutions and Politics in the Thai Sugar Industry

2004 ◽  
Vol 4 (1) ◽  
pp. 97-138 ◽  
Author(s):  
Richard F. Doner ◽  
Ansil Ramsay
Keyword(s):  
Economic Growth ◽  
Structural Change ◽  
Sugar Industry ◽  
Real Income ◽  
Income Growth ◽  
Subsequent Stage ◽  
Factor Endowment ◽  
Foreign Demand ◽  
One Stage

Why do some economies grow for several years and then stall? One obvious answer is that these economies have “overheated.” Another is that foreign demand for their products has dried up. This article explores a longer-term explanation—namely, that the institutions favorable for one stage of economic growth are less suitable for a subsequent stage. This idea of “growing into trouble” is consistent with Dani Rodrik's argument that the institutions required to stimulate growth may not be sufficient to sustain growth. We push this idea further by exploring the different requirements of structural change versus upgrading. Structural change connotes an economy's diversification through new investments, often producing real income growth. But economies can diversify without being more efficient, or their initial competitiveness can be based largely on transient factor endowment advantages. Upgrading refers to the competitiveness of these diverse activities achieved through locally based productivity improvements.

scholarly journals Government Expending, Real Interest Rate, and Economic Growth in Nepal

2018 ◽  
Vol 41 (3-4) ◽  
pp. 41-57
Author(s):  
Arbind Chaudhary ◽  
Mahesh Acharya
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Causal Relationship ◽  
Real Interest Rate ◽  
Trade Openness ◽  
Government Expenditure ◽  
Real Income ◽  
The Real ◽  
Long Run ◽  
Average Rainfall

This paper aims to obtain a linear and causal relationship between government expenditure and real interest rate to the economic growth of Nepal for 1975-2015. The applied ARDL cointegration technique yields a long-run association among the variables. Furthermore, the variables: government expenditure, real interest rate, and other control variables-average rainfall and trade openness are established as long-run elements to the national income. The real interest rate has a substitution effect on the Nepalese household sector, hence it hurts the real income. However, trade openness, public expenditure, and average rainfall are recorded as the short-run determinants. Similarly, the study also explores the existence of a bidirectional causal relationship between government expenditure and real income.

scholarly journals A Study of Financial Development Impact on Economic Growth: A Comparison Between Egypt and Saudi Arabia

2021 ◽  
Vol 12 (4) ◽  
pp. 94
Author(s):  
Dirar Abdul-Hamid Al-Toum Al-Otaibi ◽  
Hossam Hosney Abdul Aziz ◽  
Shady Mohamed Shawky Abdel-mawgoud
Keyword(s):  
Economic Growth ◽  
National Income ◽  
Real Income ◽  
The Real ◽  
Economic Theories ◽  
Fixed Price ◽  
Time Period ◽  
Average Share ◽  
One Year ◽  
Average Individual

Economic growth is always seen as one of the chief economic goals countries try to achieve, in order to develop its economics. Economic growth takes different forms following the varying economic theories, and it's mostly defined as achieving increase in average share of individual from the real gross national income at certain time period. One of the most frequently used indexes to measure economic growth is: Measuring economic growth based on the expected – no the real – income, especially in countries that possess rich resources. And based on gross domestic product at fixed price and one year, and the average individual share from real income.

Inter-country inequality as a dynamic process and the problem of post-industrial development

2018 ◽  
pp. 5-29 ◽  
Author(s):  
L. M. Grigoryev ◽  
V. A. Pavlyushina
Keyword(s):  
Economic Growth ◽  
Political Institutions ◽  
Industrial Development ◽  
Modern World ◽  
New Approach ◽  
Development Level ◽  
The World ◽  
Long Time ◽  
The Difference ◽  
Post Industrial

The phenomenon of economic growth is studied by economists and statisticians in various aspects for a long time. Economic theory is devoted to assessing factors of growth in the tradition of R. Solow, R. Barrow, W. Easterly and others. During the last quarter of the century, however, the institutionalists, namely D. North, D. Wallis, B. Weingast as well as D. Acemoglu and J. Robinson, have shown the complexity of the problem of development on the part of socioeconomic and political institutions. As a result, solving the problem of how economic growth affects inequality between countries has proved extremely difficult. The modern world is very diverse in terms of development level, and the article offers a new approach to the formation of the idea of stylized facts using cluster analysis. The existing statistics allows to estimate on a unified basis the level of GDP production by 174 countries of the world for 1992—2016. The article presents a structured picture of the world: the distribution of countries in seven clusters, different in levels of development. During the period under review, there was a strong per capita GDP growth in PPP in the middle of the distribution, poverty in various countries declined markedly. At the same time, in 1992—2016, the difference increased not only between rich and poor groups of countries, but also between clusters.

Problems Of Investment Attractiveness In The Economy Of Uzbekistan

GIS Business ◽  
2020 ◽  
Vol 15 (1) ◽  
pp. 241-245
Author(s):  
Khamrakulova O.D. ◽  
Bektemirov A.B.
Keyword(s):  
Economic Growth ◽  
Development Strategy ◽  
Private Property ◽  
Economic Reforms ◽  
The State ◽  
Structural Reforms ◽  
The Development Strategy ◽  
Macroeconomic Stability

The deepening of economic reforms in Uzbekistan is closely linked to the strengthening of macroeconomic stability and the maintenance of high rates of economic growth and competitiveness, the continuation of institutional and structural reforms to reduce the presence of the State in the economy, and the further strengthening of the protection of rights and the priority role of private property, as reflected in the Development Strategy for 2017-2021.

Reducing the Risks of the Financial Sector to Ensure Sustainable Growth of the Russian Еconomy

2019 ◽  
Vol 12 (3) ◽  
pp. 86-92
Author(s):  
T. I. Minina ◽  
V. V. Skalkin
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Financial Sector ◽  
Developed Countries ◽  
Sustainable Growth ◽  
Necessary Condition ◽  
Real Sector ◽  
Financial Instruments ◽  
The Real ◽  
The Impact

Russia’s entry into the top five economies of the world depends, among other things, on the development of the financial sector, being a necessary condition for the economic growth of a developed macroeconomic and macro-financial system. The financial sector represents a system of relationships for the effective collection and distribution of economic resources, their deployment according to public demand, reducing the risk of overproduction and overheating of the economy.Therefore, the subject of the research is the financial sector of the Russian economy.The purpose of the research was to formulate an approach to alleviating the risks of increasing financial costs in the real sector of the economy by reducing the impact of endogenous risks expressed as financial asset “bubbles” using the experience of developed countries in the monetary policy.The paper analyzes a macroeconomic model applied to the financial sector. It is established that the economic growth is determined by the growth and, more important, the qualitative development of the financial sector, which leads to two phenomena: overproduction in the real sector and an increase in asset prices in the financial sector, with a debt load in both the real and financial sectors. This results in decreasing the interest rate of the mega-regulator to near-zero values. In this case, since the mechanisms of the conventional monetary policy do not work, the unconventional monetary policy is used when the mega-regulator buys out derivative financial instruments from systemically important institutions. As a conclusion, given deflationally low rates, it is proposed that the megaregulator should issue its own derivative financial instruments and place them in the financial market.

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