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Taxation, growth and the stock traded nexus in emerging Asian countries: heterogeneous and semi-parametric panel estimates

Loganathan, Nanthakumar and Taha, Roshaiza and Ahmad, Norsiah and Subramaniam, Thirunaukarasu (2017) Taxation, growth and the stock traded nexus in emerging Asian countries: heterogeneous and semi-parametric panel estimates. Economic Research-Ekonomska Istrazivanja, 30 (1). pp. 566-580. ISSN 1331-677X

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Official URL: http://dx.doi.org/10.1080/1331677X.2017.1305789

Abstract

This study attempts to investigate the impact of economic growth and stock traded on taxation for emerging Asian countries, namely China, India, Indonesia, Republic of Korea, Malaysia and Thailand. To examine the plausible links between these indicators, we used semi-parametric, heterogeneous and panel causality analysis by employing data covering the period 1990–2014. The semi-parametric estimates indicate a U-shape effect between growth and taxation, along with elastic opposite direction effects of stock traded on taxation. This suggests that higher growth will have a positive influence on taxation in emerging Asian countries. The findings of the Dumitrescu and Hurlin (DH) heterogeneous Granger causality test revealed that there is a bi-directional causality running between growth and taxation, and a uni-directional causality running from stock traded to taxation,and from growth to stock traded.This confirms the presence of a growth-led taxation nexus in emerging Asian countries.

Item Type:Article
Additional Information:RADIS System Ref No:PB/2017/12181
Uncontrolled Keywords:stock traded, taxation
Subjects:H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions:Management
ID Code:66159
Deposited By: Widya Wahid
Deposited On:13 Jul 2017 15:06
Last Modified:13 Jul 2017 15:06

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