Do The WAEMU Member States Still Have Fiscal Space? Answering by Optimal Taxation Approach

IF 3.1 2区 经济学 Q1 DEVELOPMENT STUDIES
Isaac Amedanou
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Abstract

Yes, this paper, based on the optimal taxation approach, confirms the existence of unexploited fiscal space within WAEMU that member states could leverage to finance productive investments. Using the models of Scully (1996) and quadratic specifications within panel time-series models with heterogeneous slopes, the results provide clear evidence of an inverse U-shaped tax-growth relationship. The findings show that since 1980, the fiscal performance of WAEMU countries has been suboptimal. The optimal level of taxation that maximizes growth over the period 1980–2017 is estimated at 20.6% of GDP. In comparison, the average tax rate was 12.6% of GDP over the same period, indicating an uncollected revenue potential of 8.0% of GDP. This confirms the existence of fiscal space that could be mobilized to finance productive public expenditures and stimulate economic activity while reducing reliance on debt. The results also indicate that optimal tax rates differ across countries in the zone, meaning that the available fiscal space varies from one country to another. The paper recommends measures focused on promoting fiscal citizenship, broadening the tax base, and strengthening tax and customs administration, particularly the systems for taxpayer reporting.

西欧货币联盟成员国还有财政空间吗?用最优税收方法回答
是的,本文基于最优税收方法,证实了欧亚货币联盟内部存在未开发的财政空间,成员国可以利用这些空间为生产性投资提供资金。使用Scully(1996)的模型和具有非均匀斜率的面板时间序列模型中的二次规范,结果提供了反u型税收增长关系的明确证据。研究结果表明,自1980年以来,WAEMU国家的财政绩效一直处于次优状态。在1980年至2017年期间,实现经济增长最大化的最佳税收水平估计为GDP的20.6%。相比之下,同期的平均税率为GDP的12.6%,这表明未征收的潜在收入占GDP的8.0%。这证实存在可以调动的财政空间,为生产性公共支出提供资金和刺激经济活动,同时减少对债务的依赖。研究结果还表明,欧元区各国的最优税率不同,这意味着可用的财政空间因国而异。该报告建议采取措施,重点是促进财政公民,扩大税基,加强税收和海关管理,特别是纳税人报告制度。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
5.60
自引率
24.10%
发文量
60
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