Pub Date : 2023-06-15DOI: 10.11130/jei.2023.38.2.278
Hermann Ndoya, Pousseni Bakouan
This study assesses the effect of tax revenue on economic complexity in Africa using a sample of 29 African countries from 1995 to 2018. Applying the system generalized method of moments (GMM), we found that tax revenue spurs economic complexity in Africa by providing countries with critical financial resources to produce complex and sophisticated goods. We performed several robustness tests, including controlling for macroeconomic volatility and employing various measures of economic complexity and tax revenue, and the results remain robust. Furthermore, the mediation analysis results show that the effect of tax revenue on economic complexity is mediated by financial development and government spending. This study advocates for government strategies to enact tax reforms and maximize tax revenue mobilization, which will help finance economic complexity.
{"title":"Does Tax Revenue Improve Economic Complexity in Africa?","authors":"Hermann Ndoya, Pousseni Bakouan","doi":"10.11130/jei.2023.38.2.278","DOIUrl":"https://doi.org/10.11130/jei.2023.38.2.278","url":null,"abstract":"This study assesses the effect of tax revenue on economic complexity in Africa using a sample of 29 African countries from 1995 to 2018. Applying the system generalized method of moments (GMM), we found that tax revenue spurs economic complexity in Africa by providing countries with critical financial resources to produce complex and sophisticated goods. We performed several robustness tests, including controlling for macroeconomic volatility and employing various measures of economic complexity and tax revenue, and the results remain robust. Furthermore, the mediation analysis results show that the effect of tax revenue on economic complexity is mediated by financial development and government spending. This study advocates for government strategies to enact tax reforms and maximize tax revenue mobilization, which will help finance economic complexity.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47253749","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 : 2023-06-15DOI: 10.11130/jei.2023.38.2.247
Barli Suryanta, A. Patunru
This study investigates the effect of various types of trade impediments on Indonesia's trade flows. We categorize tariff measures, non-tariff measures (NTMs), and the lack of trade facilitation measures into at-the-border and behind-the-border barriers. A gravity model is applied to a panel dataset covering 177 of Indonesia's trade partners from 2007 to 2016. This study shows that Indonesia's trade protection remains high, particularly due to the increasing use of NTMs. Furthermore, the lack of trade facilitation also contributes to increasing trade costs, particularly those associated with trade logistics and administration. We also demonstrate why feasible generalized least square is preferable to ordinary least squares and pseudo-Poisson maximum likelihood when estimating a gravity model using panel data that are auto-correlated and contain a large number of zero observations.
{"title":"Trade Impediments in Indonesia","authors":"Barli Suryanta, A. Patunru","doi":"10.11130/jei.2023.38.2.247","DOIUrl":"https://doi.org/10.11130/jei.2023.38.2.247","url":null,"abstract":"This study investigates the effect of various types of trade impediments on Indonesia's trade flows. We categorize tariff measures, non-tariff measures (NTMs), and the lack of trade facilitation measures into at-the-border and behind-the-border barriers. A gravity model is applied to a panel dataset covering 177 of Indonesia's trade partners from 2007 to 2016. This study shows that Indonesia's trade protection remains high, particularly due to the increasing use of NTMs. Furthermore, the lack of trade facilitation also contributes to increasing trade costs, particularly those associated with trade logistics and administration. We also demonstrate why feasible generalized least square is preferable to ordinary least squares and pseudo-Poisson maximum likelihood when estimating a gravity model using panel data that are auto-correlated and contain a large number of zero observations.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45027069","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 : 2023-06-15DOI: 10.11130/jei.2023.38.2.322
Ochilov Shokhrukh, Kasimov Ikboljon, Xaldarov Zamon
This study investigates the role of economic freedom in attracting foreign direct investment (FDI) and its impact on economic growth in 15 former socialist countries from 2000 to 2021 through the Generalized Method of Moments estimation method. Our findings suggest that higher economic freedom helps countries attract additional foreign investment. Furthermore, we found that a one-unit increase in the economic freedom index increases the real gross domestic product per capita by 0.019%. The findings also reveal that a 1% increase in FDI leads to a 0.585% surge in real income per capita, whereas trade openness surges income by 1.24%. These results reveal that FDI has a positive impact on economic growth, suggesting that FDI is an important factor driving economic development in former socialist countries. This study also provides policy recommendations based on the findings, highlighting the importance of promoting free and healthy competition, transparency, accountability, and investment in education and infrastructure.
{"title":"The Role of Economic Freedom in the Relationship between Foreign Direct Investment and Economic Growth: Evidence from Former Socialist Countries","authors":"Ochilov Shokhrukh, Kasimov Ikboljon, Xaldarov Zamon","doi":"10.11130/jei.2023.38.2.322","DOIUrl":"https://doi.org/10.11130/jei.2023.38.2.322","url":null,"abstract":"This study investigates the role of economic freedom in attracting foreign direct investment (FDI) and its impact on economic growth in 15 former socialist countries from 2000 to 2021 through the Generalized Method of Moments estimation method. Our findings suggest that higher economic freedom helps countries attract additional foreign investment. Furthermore, we found that a one-unit increase in the economic freedom index increases the real gross domestic product per capita by 0.019%. The findings also reveal that a 1% increase in FDI leads to a 0.585% surge in real income per capita, whereas trade openness surges income by 1.24%. These results reveal that FDI has a positive impact on economic growth, suggesting that FDI is an important factor driving economic development in former socialist countries. This study also provides policy recommendations based on the findings, highlighting the importance of promoting free and healthy competition, transparency, accountability, and investment in education and infrastructure.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47206264","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 : 2023-06-15DOI: 10.11130/jei.2023.38.2.171
M. Choo
{"title":"The Necessity and Composition Strategy of the United Nations of the World","authors":"M. Choo","doi":"10.11130/jei.2023.38.2.171","DOIUrl":"https://doi.org/10.11130/jei.2023.38.2.171","url":null,"abstract":"","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49546266","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 : 2023-06-15DOI: 10.11130/jei.2023.38.2.186
Celestin Balla Mekongo, H. A. Ondoa, Guy Albert Kenkouo
Capital flight continues to be an issue of paramount importance for developing economies, as it deprives them of the funds required for economic takeoff. Hence, this paper aims to analyze the effect of regional financial integration (RFI) on capital flight in Africa. Based on a sample of 23 countries, we specify and estimate an asset demand model of capital flight using a portfolio choice analysis by the system-generalized method of moments for the period 1996-2015. We find two important results. First, the RFI reduces capital flight. This result becomes even more interesting when the quality of governance is considered. Second, structural breaks in the RFI-capital flight relationship explain why the RFI has had a mixed effect on the capital flight over the study period. We recommend that the attractiveness of regional financial services be enhanced concurrently with the standardization of banking and financial regulation in Africa.
{"title":"Reducing Capital Flight in Africa: Does Regional Financial Integration Matter?","authors":"Celestin Balla Mekongo, H. A. Ondoa, Guy Albert Kenkouo","doi":"10.11130/jei.2023.38.2.186","DOIUrl":"https://doi.org/10.11130/jei.2023.38.2.186","url":null,"abstract":"Capital flight continues to be an issue of paramount importance for developing economies, as it deprives them of the funds required for economic takeoff. Hence, this paper aims to analyze the effect of regional financial integration (RFI) on capital flight in Africa. Based on a sample of 23 countries, we specify and estimate an asset demand model of capital flight using a portfolio choice analysis by the system-generalized method of moments for the period 1996-2015. We find two important results. First, the RFI reduces capital flight. This result becomes even more interesting when the quality of governance is considered. Second, structural breaks in the RFI-capital flight relationship explain why the RFI has had a mixed effect on the capital flight over the study period. We recommend that the attractiveness of regional financial services be enhanced concurrently with the standardization of banking and financial regulation in Africa.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44856030","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 : 2023-06-15DOI: 10.11130/jei.2023.38.2.219
Oasis Kodila‐Tedika, S. Khalifa
This study examines the effect of U.S. Presidents and Secretaries of State visits to a country on institutional quality, particularly on economic freedom. Hence, the study develops a model that predicts the conditions under which official visits can enhance the quality of institutions. We compile variables on official visits from 1960 to 2019 from the archives of the U.S. State Department to test the predictions of our model. In addition, we use the endogenous treatment model estimation to deal with potential endogeneity. The estimation results show that the official visits have a statistically significant negative effect on economic freedom, particularly in non-democratic countries with less political freedom. The estimation results are robust with different types of visits and samples. The study presents multiple explanations for these results, including the possibility of the following: First, some American administrations adopt a pragmatic approach aimed at achieving strategic objectives while overlooking practices that do not enhance institutional quality. Second, these official visits may improve other aspects of institutional quality that are more observable to the international community than economic freedoms. Third, American policymakers care more about achieving short-term objectives from their visits that can be presented as accomplishments to their electorate rather than institutional reforms that will only yield benefits to the United States in the long run. Finally, economic freedoms are associated with political freedoms per the Hayek-Friedman hypothesis.
{"title":"Official Visits and Economic Freedom","authors":"Oasis Kodila‐Tedika, S. Khalifa","doi":"10.11130/jei.2023.38.2.219","DOIUrl":"https://doi.org/10.11130/jei.2023.38.2.219","url":null,"abstract":"This study examines the effect of U.S. Presidents and Secretaries of State visits to a country on institutional quality, particularly on economic freedom. Hence, the study develops a model that predicts the conditions under which official visits can enhance the quality of institutions. We compile variables on official visits from 1960 to 2019 from the archives of the U.S. State Department to test the predictions of our model. In addition, we use the endogenous treatment model estimation to deal with potential endogeneity. The estimation results show that the official visits have a statistically significant negative effect on economic freedom, particularly in non-democratic countries with less political freedom. The estimation results are robust with different types of visits and samples. The study presents multiple explanations for these results, including the possibility of the following: First, some American administrations adopt a pragmatic approach aimed at achieving strategic objectives while overlooking practices that do not enhance institutional quality. Second, these official visits may improve other aspects of institutional quality that are more observable to the international community than economic freedoms. Third, American policymakers care more about achieving short-term objectives from their visits that can be presented as accomplishments to their electorate rather than institutional reforms that will only yield benefits to the United States in the long run. Finally, economic freedoms are associated with political freedoms per the Hayek-Friedman hypothesis.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41392878","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 : 2023-06-15DOI: 10.11130/jei.2023.38.2.302
Marvellous Ngundu, H. Ngalawa
This study analyzes the evolution of Africa's degree of economic integration with China from 1993 to 2019. The study period encompasses a number of China-Africa bilateral economic treaties, which the literature claims are prolific and have significantly strengthened Africa's degree of economic integration with China. We develop a theoretical argument that, if this assertion holds, the integration indicator must reflect a long-run upward trend that is less obstructed by noise. To validate this argument, we use a wavelet approach and find no evidence necessitating failure to reject the null hypothesis of no periodicity, suggesting that the integration indicator was statistically noisy over the study period. This finding suggests that interpreting the evolution of China-Africa economic integration primarily through bilateral economic pacts can be deceptive. The interpretation should instead be exploratory in nature to unpack some hidden motivations associated with this integration. Our preliminary investigation revealed that the Angola Model is primarily driving China-Africa economic integration. Therefore, it is plausible to argue that China-Africa economic integration is perpetuated to exploit natural resources rather than to enhance hard infrastructure development in Africa, as purported in the literature.
{"title":"Analyzing the Evolution of China-Africa Economic Integration: A Wavelet Approach","authors":"Marvellous Ngundu, H. Ngalawa","doi":"10.11130/jei.2023.38.2.302","DOIUrl":"https://doi.org/10.11130/jei.2023.38.2.302","url":null,"abstract":"This study analyzes the evolution of Africa's degree of economic integration with China from 1993 to 2019. The study period encompasses a number of China-Africa bilateral economic treaties, which the literature claims are prolific and have significantly strengthened Africa's degree of economic integration with China. We develop a theoretical argument that, if this assertion holds, the integration indicator must reflect a long-run upward trend that is less obstructed by noise. To validate this argument, we use a wavelet approach and find no evidence necessitating failure to reject the null hypothesis of no periodicity, suggesting that the integration indicator was statistically noisy over the study period. This finding suggests that interpreting the evolution of China-Africa economic integration primarily through bilateral economic pacts can be deceptive. The interpretation should instead be exploratory in nature to unpack some hidden motivations associated with this integration. Our preliminary investigation revealed that the Angola Model is primarily driving China-Africa economic integration. Therefore, it is plausible to argue that China-Africa economic integration is perpetuated to exploit natural resources rather than to enhance hard infrastructure development in Africa, as purported in the literature.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42788827","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 : 2023-03-15DOI: 10.11130/jei.2023.38.1.32
Alejandro Ayuso-Díaz, Antonio Gómez‐Plana
Since the Doha Round stalemate after 2001, trade liberalization has progressed through regional trade agreements (RTAs) and East and Southeast Asia is not unfamiliar with this. Before assessing the effectiveness of recent trade agreements, the long tradition of trade exchange in this region that has lasted for more than 2,000 years necessitates an understanding of the evolution of intra-Asian trade across history. In this regard, this study contributes to the literature examining whether present intra-Asian trade is more or less intense than before 1938. This research outperforms previous studies using a gravity model that controls for changes in GDP and trade costs in the region across four different time periods (between 1840 and 2018). The results show that contemporary regional trade in East and Southeast Asia is slightly less intense than before World War II. A second question addressed is the relevance of trade agreements after the 1985 Plaza Accord on trade integration, compared with market determinants. A second gravity model for regional imports after 1986 is regressed on both policy and market indicators, indicating that the latest wave of intra-Asian trade is characterized by trade complementarities that are fueled by regional foreign direct investment, and free trade agreements are less effective. This result is validated through a network analysis demonstrating the symbiosis between trade and investment flows in the region, which should be considered in RTAs that are in place or in negotiation to take intra-Asian trade beyond its historical limits.
{"title":"More Integrated than Ever? Long-Term Market and Policy Drivers of Intra-Asian Trade","authors":"Alejandro Ayuso-Díaz, Antonio Gómez‐Plana","doi":"10.11130/jei.2023.38.1.32","DOIUrl":"https://doi.org/10.11130/jei.2023.38.1.32","url":null,"abstract":"Since the Doha Round stalemate after 2001, trade liberalization has progressed through regional trade agreements (RTAs) and East and Southeast Asia is not unfamiliar with this. Before assessing the effectiveness of recent trade agreements, the long tradition of trade exchange in this region that has lasted for more than 2,000 years necessitates an understanding of the evolution of intra-Asian trade across history. In this regard, this study contributes to the literature examining whether present intra-Asian trade is more or less intense than before 1938. This research outperforms previous studies using a gravity model that controls for changes in GDP and trade costs in the region across four different time periods (between 1840 and 2018). The results show that contemporary regional trade in East and Southeast Asia is slightly less intense than before World War II. A second question addressed is the relevance of trade agreements after the 1985 Plaza Accord on trade integration, compared with market determinants. A second gravity model for regional imports after 1986 is regressed on both policy and market indicators, indicating that the latest wave of intra-Asian trade is characterized by trade complementarities that are fueled by regional foreign direct investment, and free trade agreements are less effective. This result is validated through a network analysis demonstrating the symbiosis between trade and investment flows in the region, which should be considered in RTAs that are in place or in negotiation to take intra-Asian trade beyond its historical limits.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44274668","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 : 2023-03-15DOI: 10.11130/jei.2023.38.1.1
Sungcheol Kim, Kyunghun Kim
This paper investigates the key factors in determining disaggregated portfolio investment flows to Korea. I categorize total portfolio investment flows by investor type, such as global banks, investment funds, securities firms, and pension companies. From the structural vector autoregression model with dummy variables, this paper finds that the properties of each institution's capital inflows are quite different. For example, investment funds and securities firm flows are more responsive to stock market index, whereas pension companies are more sensitive to domestic output growth. This implies that the impact of any economic shock on the total foreign capital flows cannot be generalized as the impact on each investment group's capital flow.
{"title":"The Determinants of Disaggregated Capital Inflows to Emerging Market Economies: Empirical Evidence from Korea","authors":"Sungcheol Kim, Kyunghun Kim","doi":"10.11130/jei.2023.38.1.1","DOIUrl":"https://doi.org/10.11130/jei.2023.38.1.1","url":null,"abstract":"This paper investigates the key factors in determining disaggregated portfolio investment flows to Korea. I categorize total portfolio investment flows by investor type, such as global banks, investment funds, securities firms, and pension companies. From the structural vector autoregression model with dummy variables, this paper finds that the properties of each institution's capital inflows are quite different. For example, investment funds and securities firm flows are more responsive to stock market index, whereas pension companies are more sensitive to domestic output growth. This implies that the impact of any economic shock on the total foreign capital flows cannot be generalized as the impact on each investment group's capital flow.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44739278","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 : 2023-03-15DOI: 10.11130/jei.2023.38.1.115
S. Gnangnon
International financial institutions have advised developing countries to implement a reform of their tax revenue structure to reduce their dependence on international trade tax revenue, for the benefit of domestic tax revenue. This study examines the effect of this type of tax reform on the real exchange rate through the trade openness channel. It defines tax reform (also known as "tax transition reform") as a process that involves the convergence of developing countries' tax structures toward the tax structure of developed countries (given the weak dependence of the latter's tax structure on international trade tax revenue). The analysis is conducted using an unbalanced panel dataset of 107 countries from 1980-2019, and the two-step system-generalized method of moments approach. The findings show that tax reform causes real exchange rate depreciation, with the magnitude of this effect being higher in developed countries than in developing countries. Furthermore, the real exchange rate depreciation effect of the tax reform is higher in countries with greater trade openness and a tax structure that is less dependent on international trade tax revenue.
{"title":"Effects of the Tax Transition Reform on the Real Exchange Rate through the Trade Openness Channel in Developing Countries","authors":"S. Gnangnon","doi":"10.11130/jei.2023.38.1.115","DOIUrl":"https://doi.org/10.11130/jei.2023.38.1.115","url":null,"abstract":"International financial institutions have advised developing countries to implement a reform of their tax revenue structure to reduce their dependence on international trade tax revenue, for the benefit of domestic tax revenue. This study examines the effect of this type of tax reform on the real exchange rate through the trade openness channel. It defines tax reform (also known as \"tax transition reform\") as a process that involves the convergence of developing countries' tax structures toward the tax structure of developed countries (given the weak dependence of the latter's tax structure on international trade tax revenue). The analysis is conducted using an unbalanced panel dataset of 107 countries from 1980-2019, and the two-step system-generalized method of moments approach. The findings show that tax reform causes real exchange rate depreciation, with the magnitude of this effect being higher in developed countries than in developing countries. Furthermore, the real exchange rate depreciation effect of the tax reform is higher in countries with greater trade openness and a tax structure that is less dependent on international trade tax revenue.","PeriodicalId":45678,"journal":{"name":"Journal of Economic Integration","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41470429","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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