Tax reforms and fiscal stabilization in Latin American countries

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/EC 80(45/2004)
cepal.callNumberLC/L.2145-P
cepal.divisionEngLatin American and Caribbean Institute for Economic and Social Planning (ILPES)
cepal.divisionSpaILPES - Instituto Latinoamericano y del Caribe de Planificación Económica y Social
cepal.docTypeSeries
cepal.idSade19716
cepal.jobNumberS045408 E
cepal.physicalDescriptiongráficos, tablas
cepal.regionalOfficeSantiago
cepal.saleNumber04.II.G.73
cepal.topicEngFISCAL AFFAIRS
cepal.topicSpaASUNTOS FISCALES
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngPLANNING FOR DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaPLANIFICACIÓN PARA EL DESARROLLO
dc.contributor.authorTromben, Varinia
dc.contributor.authorMartner Fanta, Ricardo
dc.contributor.entityNU. CEPAL
dc.contributor.entityNU. CEPAL. ILPES
dc.coverage.spatialEngLATIN AMERICA
dc.coverage.spatialSpaAMERICA LATINA
dc.date.accessioned2014-01-02T16:47:02Z
dc.date.available2014-01-02T16:47:02Z
dc.date.issued2004-06
dc.descriptionIncludes bibliography
dc.description.abstractThe 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."
dc.formatTexto
dc.format.extent41 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.isbn9211214483
dc.identifier.unSymbolLC/IP/L.244
dc.identifier.unSymbolLC/L.2145-P
dc.identifier.urihttps://hdl.handle.net/11362/7300
dc.language.isoeng
dc.physicalDescription41 p. : gráfs., tabls.
dc.publisherCEPAL
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesSerie Gestión Pública
dc.relation.isPartOfSeriesNo45
dc.rights.coarDisponible
dc.subject.unbisEngFINANCIAL MANAGEMENT
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngPUBLIC FINANCE
dc.subject.unbisEngTAX ADMINISTRATION
dc.subject.unbisEngTAX SYSTEMS
dc.subject.unbisEngTAXATION
dc.subject.unbisSpaADMINISTRACION FINANCIERA
dc.subject.unbisSpaADMINISTRACION FISCAL
dc.subject.unbisSpaHACIENDA PUBLICA
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaSISTEMAS TRIBUTARIOS
dc.subject.unbisSpaTRIBUTACION
dc.titleTax reforms and fiscal stabilization in Latin American countries
dc.type.coarlibro
dspace.entity.typePublication
relation.isAuthorOfPublication426a92ea-a6e8-4721-b39c-586c9ef712e4
relation.isAuthorOfPublicationf14c571e-7585-4037-85a0-1da69e586e44
relation.isAuthorOfPublication.latestForDiscovery426a92ea-a6e8-4721-b39c-586c9ef712e4
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