In this paper, I review the empirical literature in the intersection of banks and corporate income taxation that emerged over the last two decades. To structure the included studies, I use a stakeholder approach and outline how corporate income taxation plays into the relation of banks and their four main stakeholders: bank regulators, customers, investors and tax authorities. My contribution to the literature is threefold: First, I contribute by providing, to the best of my knowledge, a first comprehensive review on this topic. Second, I point to areas for future research. Third, I deduce policy implications from the studies under review. In sum, the studies show that taxes distort banks' pricing decisions, the relative attractiveness of debt and equity financing, the decision to report on or off the balance sheet and banks' investment allocations. Empirical insights on how tax rules affect banks' decision-making are helpful for policymakers to tailor suitable and sustainable tax legislation directed at banks.
{"title":"Banks and Corporate Income Taxation: A Review","authors":"Vanessa Gawehn","doi":"10.2139/ssrn.3498843","DOIUrl":"https://doi.org/10.2139/ssrn.3498843","url":null,"abstract":"In this paper, I review the empirical literature in the intersection of banks and corporate income taxation that emerged over the last two decades. To structure the included studies, I use a stakeholder approach and outline how corporate income taxation plays into the relation of banks and their four main stakeholders: bank regulators, customers, investors and tax authorities. My contribution to the literature is threefold: First, I contribute by providing, to the best of my knowledge, a first comprehensive review on this topic. Second, I point to areas for future research. Third, I deduce policy implications from the studies under review. In sum, the studies show that taxes distort banks' pricing decisions, the relative attractiveness of debt and equity financing, the decision to report on or off the balance sheet and banks' investment allocations. Empirical insights on how tax rules affect banks' decision-making are helpful for policymakers to tailor suitable and sustainable tax legislation directed at banks.","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"65 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132738144","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This chapter analyses the impact of decentralisation on educational governance in the Democratic Republic of Congo (DRC). It considers two facets of decentralisation: deconcentration and devolution (découpage). We analyse budgetary issues and the number of civil servants as two essential aspects of educational governance. The chapter demonstrates four aspects: First, evidenced by unilateral and precipitated decisions by the Minister of Education, deconcentration has been politically motivated to offer patronage-based recruitment opportunities. The idea to tie educational provinces to administrative provinces (découpage) has recently been abandoned. Second, deconcentration causes budgetary strains that households have to bear while waiting for the government to provide salaries and operational costs. Third, opaque deconcentration reinforces administrative illegibility of educational actors. Fourth, découpage has caused a potential need for restructuring faith-based offices, which are highly fragmented on the ground. The results suggest a marginal role of faith-based organisations in national-level educational policies and of international donors in formalizing decision-making processes within the Ministry of Education, an objective they’ve pursued for several years.
{"title":"The Impact of Decentralisation on Educational Governance in the DR Congo: Strained Budgets and a Patchworked Administration","authors":"C. Brandt, S. Moshonas","doi":"10.2139/ssrn.3735510","DOIUrl":"https://doi.org/10.2139/ssrn.3735510","url":null,"abstract":"This chapter analyses the impact of decentralisation on educational governance in the Democratic Republic of Congo (DRC). It considers two facets of decentralisation: deconcentration and devolution (découpage). We analyse budgetary issues and the number of civil servants as two essential aspects of educational governance. The chapter demonstrates four aspects: First, evidenced by unilateral and precipitated decisions by the Minister of Education, deconcentration has been politically motivated to offer patronage-based recruitment opportunities. The idea to tie educational provinces to administrative provinces (découpage) has recently been abandoned. Second, deconcentration causes budgetary strains that households have to bear while waiting for the government to provide salaries and operational costs. Third, opaque deconcentration reinforces administrative illegibility of educational actors. Fourth, découpage has caused a potential need for restructuring faith-based offices, which are highly fragmented on the ground. The results suggest a marginal role of faith-based organisations in national-level educational policies and of international donors in formalizing decision-making processes within the Ministry of Education, an objective they’ve pursued for several years.","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125491038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We build and estimate a dynamic model of teenagers' choices of schooling and crime, incorporating four factors that may contribute to the different paths taken by different teenagers: heterogeneous endowments, unequal opportunities, uncertainties about one's own ability, and contemporaneous shocks. We estimate the model using administrative panel data from Chile that link school records with juvenile criminal records. Counterfactual policy experiments suggest that, for teenagers with disadvantaged backgrounds, interventions that combine mild improvement in their schooling opportunities with free tuition (by adding 157 USD per teenager‐year to the existing high school voucher) would lead to an 11% decrease in the fraction of those ever arrested by age 18 and a 13% increase in the fraction of those consistently enrolled throughout primary and secondary education.
{"title":"Wandering Astray: Teenagers' Choices of Schooling and Crime","authors":"Chao Fu, Nicolás Grau, Jorge Rivera","doi":"10.3386/w26858","DOIUrl":"https://doi.org/10.3386/w26858","url":null,"abstract":"We build and estimate a dynamic model of teenagers' choices of schooling and crime, incorporating four factors that may contribute to the different paths taken by different teenagers: heterogeneous endowments, unequal opportunities, uncertainties about one's own ability, and contemporaneous shocks. We estimate the model using administrative panel data from Chile that link school records with juvenile criminal records. Counterfactual policy experiments suggest that, for teenagers with disadvantaged backgrounds, interventions that combine mild improvement in their schooling opportunities with free tuition (by adding 157 USD per teenager‐year to the existing high school voucher) would lead to an 11% decrease in the fraction of those ever arrested by age 18 and a 13% increase in the fraction of those consistently enrolled throughout primary and secondary education.","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129978026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of this paper is to encourage and support academic research related to U.S. state and local government financial reporting. We provide an overview of U.S. state and local governments and their financial reporting, discuss sources of government data available to researchers, review key streams of academic research on governmental financial reporting, and suggest opportunities for future research in this area.
{"title":"Overview of U.S. State and Local Government Financial Reporting: A Reference for Academic Research","authors":"W. Kim, Marlene A. Plumlee, Stephen R. Stubben","doi":"10.2139/SSRN.3286448","DOIUrl":"https://doi.org/10.2139/SSRN.3286448","url":null,"abstract":"The purpose of this paper is to encourage and support academic research related to U.S. state and local government financial reporting. We provide an overview of U.S. state and local governments and their financial reporting, discuss sources of government data available to researchers, review key streams of academic research on governmental financial reporting, and suggest opportunities for future research in this area.","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"213 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123235053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Governments frequently use financial incentives to encourage the creation, expansion, or relocation of businesses within their borders. Previous research on financial incentives have given little clarity as to what impact these incentives may have on the government. While incentives may draw in more economic growth, they also pull resources from the government’s coffers and may commit future funding for public services that benefit the incentivized business. Using a panel of 32 states from 1990 to 2015, we seek to understand how incentives affect a state’s fiscal health. After controlling for the governmental, political, economic, and demographic characteristics of a state, we find that incentives draw resources away from the state. Ultimately, the results show that financial incentives negatively affect the overall fiscal health of a state.
{"title":"You Don't Always Get What You Want: The Effect of Financial Incentives on State Fiscal Health","authors":"Bruce D. McDonald, J. Decker, Brad A. M. Johnson","doi":"10.2139/ssrn.3376991","DOIUrl":"https://doi.org/10.2139/ssrn.3376991","url":null,"abstract":"Governments frequently use financial incentives to encourage the creation, expansion, or relocation of businesses within their borders. Previous research on financial incentives have given little clarity as to what impact these incentives may have on the government. While incentives may draw in more economic growth, they also pull resources from the government’s coffers and may commit future funding for public services that benefit the incentivized business. Using a panel of 32 states from 1990 to 2015, we seek to understand how incentives affect a state’s fiscal health. After controlling for the governmental, political, economic, and demographic characteristics of a state, we find that incentives draw resources away from the state. Ultimately, the results show that financial incentives negatively affect the overall fiscal health of a state.","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115390150","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Lisa Barrow, L. Cavalluzzo, Thomas F. Geraghty, Christine G. Mokher, Lauren Sartain
The National Board for Professional Teaching Standards recognizes teachers who meet performance standards for “accomplished” educators. States and districts provide support for teachers to obtain this certification, which is considered an honor in the field. Using high school data from Chicago and Kentucky, we examine whether participation in the time- and resource-intensive certification process improves teacher productivity and, ultimately, if recognized teachers are of higher quality than their non-certified peers. We find the certification process itself did not increase teacher productivity. Further, we find mixed evidence on whether certified teachers are more effective at raising test scores than non-certified teachers
{"title":"The Signaling, Screening, and Human Capital Effects of National Board Certification: Evidence from Chicago and Kentucky High Schools","authors":"Lisa Barrow, L. Cavalluzzo, Thomas F. Geraghty, Christine G. Mokher, Lauren Sartain","doi":"10.2139/ssrn.3584785","DOIUrl":"https://doi.org/10.2139/ssrn.3584785","url":null,"abstract":"The National Board for Professional Teaching Standards recognizes teachers who meet performance standards for “accomplished” educators. States and districts provide support for teachers to obtain this certification, which is considered an honor in the field. Using high school data from Chicago and Kentucky, we examine whether participation in the time- and resource-intensive certification process improves teacher productivity and, ultimately, if recognized teachers are of higher quality than their non-certified peers. We find the certification process itself did not increase teacher productivity. Further, we find mixed evidence on whether certified teachers are more effective at raising test scores than non-certified teachers","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116273713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-12-27DOI: 10.32721/ctj.2019.67.4.pf.saillant
Richard Saillant, H. Emery
This article examines New Brunswick's recent fiscal track record and major trends likely to shape its trajectory in the years ahead. New Brunswick's fiscal position eroded considerably over its "lost decade," from 2007-08 to 2016-17. During this period, the province's successive governments performed poorly—both in absolute terms and relative to the other maritime provinces—in adjusting to major shocks that seriously impaired revenue growth. Looking forward, the government's revenue-generating capacity is likely to remain constrained, while health-care spending pressures will mount with a fast-aging population. The authors conclude that, in a critical way, New Brunswick's fiscal future may no longer be in its own hands, but in the hands of richer provinces with a younger population, and the federal government.
{"title":"Policy Forum: Is New Brunswick Heading over the Fiscal Cliff?","authors":"Richard Saillant, H. Emery","doi":"10.32721/ctj.2019.67.4.pf.saillant","DOIUrl":"https://doi.org/10.32721/ctj.2019.67.4.pf.saillant","url":null,"abstract":"This article examines New Brunswick's recent fiscal track record and major trends likely to shape its trajectory in the years ahead. New Brunswick's fiscal position eroded considerably over its \"lost decade,\" from 2007-08 to 2016-17. During this period, the province's successive governments performed poorly—both in absolute terms and relative to the other maritime provinces—in adjusting to major shocks that seriously impaired revenue growth. Looking forward, the government's revenue-generating capacity is likely to remain constrained, while health-care spending pressures will mount with a fast-aging population. The authors conclude that, in a critical way, New Brunswick's fiscal future may no longer be in its own hands, but in the hands of richer provinces with a younger population, and the federal government.","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"108 5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117049054","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The main goal of every government in the country is to promote economic and social development. The fulfillment of this goal depends on the availability of sufficient amount of central government revenue. Unfortunately, in developing countries, the collection of revenue is far below than expectations. This study initiated with twin objectives. First, to identify the macroeconomic variables that affects central government revenue and examines their importance. Second, to access the performance and potential of revenue collection by the central government of oil- exporting and importing countries. The panel data estimation results of a sample of 22 oil-exporting countries for the period 2004-2017, identified several important macroeconomic variables that significantly affect central government revenue. It is also concluded that some countries are very poor in revenue generation compare to what we expect based on macroeconomic performance of some indicators. It is also observed that some oil-exporting and importing countries could not maintain their revenue generation performance and are facing serious problem to finance their expenditures.
{"title":"Performance and Potential of Central Government Revenue: A Panel Data Analysis for Oil Exporting and Importing Countries","authors":"A. Waheed, N. Saqib","doi":"10.32479/ijeep.8819","DOIUrl":"https://doi.org/10.32479/ijeep.8819","url":null,"abstract":"The main goal of every government in the country is to promote economic and social development. The fulfillment of this goal depends on the availability of sufficient amount of central government revenue. Unfortunately, in developing countries, the collection of revenue is far below than expectations. This study initiated with twin objectives. First, to identify the macroeconomic variables that affects central government revenue and examines their importance. Second, to access the performance and potential of revenue collection by the central government of oil- exporting and importing countries. The panel data estimation results of a sample of 22 oil-exporting countries for the period 2004-2017, identified several important macroeconomic variables that significantly affect central government revenue. It is also concluded that some countries are very poor in revenue generation compare to what we expect based on macroeconomic performance of some indicators. It is also observed that some oil-exporting and importing countries could not maintain their revenue generation performance and are facing serious problem to finance their expenditures.","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126275625","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Miguel A. Ferreira, João Pereira dos Santos, Ana Venâncio
We study the role of property taxes on entrepreneurial activity using a quasi-natural experiment, which unexpectedly reduced the upper bound of the Portuguese property tax rate for urban properties in 2008. Using a difference-in-differences approach, we find that treated municipalities (i.e., municipalities that had a property tax rate above the new upper bound) experienced higher entry rates in the manufacturing sector vis-a-vis control municipalities (i.e., municipalities that had a property tax rate at or below the new upper bound). Taking advantage of firm-level data, we show that start-ups created as a response to the decrease in property taxes in treated municipalities use more debt, invest more, and are more likely to survive.
{"title":"Collateral Value and Entrepreneurship: Evidence from a Property Tax Reform","authors":"Miguel A. Ferreira, João Pereira dos Santos, Ana Venâncio","doi":"10.2139/ssrn.3544706","DOIUrl":"https://doi.org/10.2139/ssrn.3544706","url":null,"abstract":"We study the role of property taxes on entrepreneurial activity using a quasi-natural experiment, which unexpectedly reduced the upper bound of the Portuguese property tax rate for urban properties in 2008. Using a difference-in-differences approach, we find that treated municipalities (i.e., municipalities that had a property tax rate above the new upper bound) experienced higher entry rates in the manufacturing sector vis-a-vis control municipalities (i.e., municipalities that had a property tax rate at or below the new upper bound). Taking advantage of firm-level data, we show that start-ups created as a response to the decrease in property taxes in treated municipalities use more debt, invest more, and are more likely to survive.","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114807365","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-23DOI: 10.17573/cepar.2019.2.07
S. Slukhai, L. Demydenko, Yu. Nakonechna, Tetiana Borshchenko
After the Revolution of Dignity (2013–2014), the new Ukrainian government set out a number of reforms, one of which – and a successful one so far – was decentralisation, involving territorial amalgamation and re-allocation of public revenues and outlays in favour of the newly-established amalgamated territorial communities (ATCs). This study aims to analyse whether decentralisation is supported by the realisation of the budget transparency principle. We attempt to fill the gap still existing in the research of public sector transparency in Ukraine, concerning the basic administrative level, hereby being limited to big cities and regions. The authors carried out an assessment of budget transparency in newly-established ATCs in four Ukrainian regions by applying a simplified methodology (‘snapshot assessment’) involving 11 measures that could be easily located on the ATC websites. In order to understand the reasons for a particular level of transparency, a polling of ATC heads was undertaken. The findings of the study demonstrate that the overall budget transparency in the newly established ATCs is rather low and subject to significant interregional variation. We find that the local officials overstate the existing level of budget transparency in their communities and are not proactive in their efforts to raise it. The importance of this article lies in substantiating the need for making budget transparency a priority for local officials, as well as in detailing the activity of the state and the local community in this field
{"title":"The Principle of Transparency in the Ukrainian Decentralisation Reform","authors":"S. Slukhai, L. Demydenko, Yu. Nakonechna, Tetiana Borshchenko","doi":"10.17573/cepar.2019.2.07","DOIUrl":"https://doi.org/10.17573/cepar.2019.2.07","url":null,"abstract":"After the Revolution of Dignity (2013–2014), the new Ukrainian government set out a number of reforms, one of which – and a successful one so far – was decentralisation, involving territorial amalgamation and re-allocation of public revenues and outlays in favour of the newly-established amalgamated territorial communities (ATCs). This study aims to analyse whether decentralisation is supported by the realisation of the budget transparency principle. We attempt to fill the gap still existing in the research of public sector transparency in Ukraine, concerning the basic administrative level, hereby being limited to big cities and regions. The authors carried out an assessment of budget transparency in newly-established ATCs in four Ukrainian regions by applying a simplified methodology (‘snapshot assessment’) involving 11 measures that could be easily located on the ATC websites. In order to understand the reasons for a particular level of transparency, a polling of ATC heads was undertaken. The findings of the study demonstrate that the overall budget transparency in the newly established ATCs is rather low and subject to significant interregional variation. We find that the local officials overstate the existing level of budget transparency in their communities and are not proactive in their efforts to raise it. The importance of this article lies in substantiating the need for making budget transparency a priority for local officials, as well as in detailing the activity of the state and the local community in this field","PeriodicalId":221919,"journal":{"name":"ERN: National","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131035242","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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