Publication:
Public Finance and Economic Development: Reflections Based on the Experience in China

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dc.contributor.authorGordon, Roger H.
dc.date.accessioned2017-08-28T18:58:11Z
dc.date.available2017-08-28T18:58:11Z
dc.date.issued2009
dc.description.abstractLow tax revenue and slow economic growth are two central concerns in developing countries. However, policies that raise tax revenue also harm economic growth. With tax revenue coming mainly from large capital-intensive firms, and with a large informal sector, policies that aid large firms and policies that discourage entry of new firms both help increase tax revenue. Entrepreneurial activity as a result is discouraged, lowering growth. There is a basic tension in policy design between current tax revenue and economic growth. In fact, a loss in tax revenue can itself reduce growth, due to less spending on education and infrastructure. It can also undermine political support for the reforms from the poor and from government bureaucrats, both of whom are key beneficiaries of government expenditures. What policies encourage growth without undue loss of current expenditures? One is debt finance, but this creates the risk of a financial crisis if tax revenue rises too slowly to repay this debt. A second is user fees, but such fees still undermine political support from the poor. A third is partial reform, maintaining both higher taxes on and some protection for easily taxed firms, even while barriers to entry are eased.en
dc.identifierhttp://documents.worldbank.org/curated/en/493491468151473073/Public-finance-and-economic-development-reflections-based-on-the-experience-in-China
dc.identifier.doi10.1596/28023
dc.identifier.urihttps://hdl.handle.net/10986/28023
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesCommission on Growth and Development Working Paper;No. 61
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectAGRICULTURE
dc.subjectALLOCATION OF CREDIT
dc.subjectBANK DEPOSITS
dc.subjectBARRIERS TO ENTRY
dc.subjectBENEFICIARIES
dc.subjectCAPITAL INVESTMENT
dc.subjectCASH ECONOMY
dc.subjectCASH TRANSACTIONS
dc.subjectCHECKS
dc.subjectCOMMODITY
dc.subjectCONFIDENCE OF INVESTORS
dc.subjectCONSUMPTION TAXES
dc.subjectCONVERSIONS
dc.subjectCORPORATE INCOME TAX
dc.subjectCORPORATE INCOME TAXES
dc.subjectCREDIBILITY
dc.subjectCREDIT CARDS
dc.subjectCRITICAL INFRASTRUCTURE
dc.subjectCURRENCY
dc.subjectDEBT
dc.subjectDEFICITS
dc.subjectDEFLATION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING ECONOMIES
dc.subjectDISCOUNT RATE
dc.subjectDISTRIBUTION OF WEALTH
dc.subjectDOMESTIC MARKET
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC DOWNTURN
dc.subjectECONOMIC EFFICIENCY
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC LOSS
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC REFORMS
dc.subjectECONOMIC RESEARCH
dc.subjectECONOMICS LITERATURE
dc.subjectENVIRONMENTAL BENEFITS
dc.subjectEVASION
dc.subjectEXCISE TAX
dc.subjectEXCISE TAXES
dc.subjectEXISTING INFRASTRUCTURE
dc.subjectEXPENDITURE
dc.subjectEXTERNALITIES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL SECTOR
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFLOWS OF CAPITAL
dc.subjectFORECASTS
dc.subjectFOREIGN COMPETITION
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN OWNERS
dc.subjectFREE TRADE
dc.subjectFUTURE GROWTH
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGOVERNMENT FINANCES
dc.subjectGOVERNMENT POLICIES
dc.subjectGOVERNMENT REVENUE
dc.subjectGROWTH RATES
dc.subjectGROWTH THEORY
dc.subjectIMPLICIT TAX
dc.subjectINCOME
dc.subjectINCOME TAX
dc.subjectINCOME TAXES
dc.subjectINCOMES
dc.subjectINDIRECT TAXATION
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATION RATES
dc.subjectINFORMAL ECONOMY
dc.subjectINFRASTRUCTURE DEVELOPMENT
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectINFRASTRUCTURE PROJECTS
dc.subjectINTEREST RATE
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL TRADE
dc.subjectLENDERS
dc.subjectLEVEL OF DEBT
dc.subjectLEVEL OF INFLATION
dc.subjectLICENSES
dc.subjectLOAN
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMARGINAL COST
dc.subjectMARKET INTEREST
dc.subjectMARKET INTEREST RATE
dc.subjectMARKET PRICES
dc.subjectMARKET REFORM
dc.subjectMARKET REFORMS
dc.subjectMONETARY POLICY
dc.subjectMONOPOLY
dc.subjectNATURAL RESOURCES
dc.subjectNEW MARKET
dc.subjectNEW MARKET OPPORTUNITIES
dc.subjectNEW PRODUCTS
dc.subjectNOMINAL INTEREST RATE
dc.subjectOPTIMAL TAXATION
dc.subjectOUTPUT
dc.subjectPOLICY RESPONSE
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL STABILITY
dc.subjectPOLITICAL SYSTEMS
dc.subjectPREFERENTIAL ACCESS
dc.subjectPRIVATE FINANCING
dc.subjectPRIVATIZATION
dc.subjectPROBABILITY OF DEFAULT
dc.subjectPUBLIC
dc.subjectPUBLIC ECONOMICS
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC POLICY
dc.subjectRAPID ECONOMIC GROWTH
dc.subjectRAPID GROWTH
dc.subjectRATE OF INVESTMENT
dc.subjectREAL GDP
dc.subjectREAL GROWTH RATE
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATE
dc.subjectREGISTRATION FEES
dc.subjectREPAYMENT
dc.subjectRESTRICTED FOREIGN OWNERSHIP
dc.subjectRESTRICTIONS ON ENTRY
dc.subjectRETURN
dc.subjectROADS
dc.subjectSKILLED WORKERS
dc.subjectTARIFF REVENUE
dc.subjectTARIFF REVENUES
dc.subjectTAX
dc.subjectTAX BASE
dc.subjectTAX CHANGES
dc.subjectTAX COLLECTION
dc.subjectTAX COMPLIANCE
dc.subjectTAX EVASION
dc.subjectTAX POLICIES
dc.subjectTAX POLICY
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTAX REFORM
dc.subjectTAX REFORMS
dc.subjectTAX REVENUE
dc.subjectTAX STRUCTURE
dc.subjectTAX STRUCTURES
dc.subjectTAX SYSTEM
dc.subjectTAXATION
dc.subjectTELECOMMUNICATIONS
dc.subjectTRADE BARRIERS
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE LIBERALIZATIONS
dc.subjectTRADES
dc.subjectTRADING
dc.subjectTRANSACTION
dc.subjectTRANSFER PAYMENTS
dc.subjectTRANSFER TAXES
dc.subjectTURNOVER
dc.subjectTURNOVER TAXES
dc.subjectUTILITIES
dc.subjectUTILITY FUNCTION
dc.subjectVOLATILITY
dc.subjectWAGES
dc.titlePublic Finance and Economic Developmenten
dc.title.subtitleReflections Based on the Experience in Chinaen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.date.disclosure2010-12-09
okr.date.doiregistration2025-04-15T11:02:16.564812Z
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/493491468151473073/Public-finance-and-economic-development-reflections-based-on-the-experience-in-China
okr.guid493491468151473073
okr.identifier.externaldocumentum000356161_20101209233137
okr.identifier.internaldocumentum13221295
okr.identifier.report57760
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/493491468151473073/pdf/577600NWP0Box353767B01PUBLIC10gcwp061web.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryChina
okr.topicPublic Sector Development::Public Sector Economics
okr.topicFinance and Financial Sector Development::Public & Municipal Finance
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicMacroeconomics and Economic Growth::Taxation & Subsidies
okr.unitDevelopment Research Group (DECRG)
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