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Article
Publication date: 29 May 2009

Cedwyn Fernandes and Ajit Karnik

The main purpose of this paper is to understand the impact on the United Arab Emirates (UAE) economy of the objective of reducing its dependence on oil, trying to achieve…

Abstract

Purpose

The main purpose of this paper is to understand the impact on the United Arab Emirates (UAE) economy of the objective of reducing its dependence on oil, trying to achieve the Gulf Cooperation Council (GCC) fiscal convergence criterion and the inevitable depletion of oil resources.

Design/methodology/approach

An 18 equation compact macro‐econometric model is constructed and is evaluated and calibrated employing dynamic simulation techniques. Optimal control techniques are used to analyze the economic impact of the three objectives listed above.

Findings

Each of the optimal control experiments that has been carried out has served to reinforce the fact that the UAE is still critically dependent on oil. An increase in the share of the non‐oil sector, adhering to the GCC fiscal criterion and any reduction in oil output production will affect government finances adversely.

Research limitations/implications

The macro‐econometric model developed is for the UAE and further research is needed to see if the conclusions can be generalized to the other oil exporting countries.

Practical implications

The estimated macro‐econometric model and the optimal control experiments indicate to the policy makers the need to continue the diversification of the economy and for government to actively explore and enhance non‐hydrocarbon sources of revenue.

Originality/value

This paper develops a compact macro‐econometric model of the UAE and uses optimal control techniques which go well beyond the standard simulation techniques and the routine counter‐factual experiments to understand the working of the economy.

Details

Education, Business and Society: Contemporary Middle Eastern Issues, vol. 2 no. 2
Type: Research Article
ISSN: 1753-7983

Keywords

Content available
Article
Publication date: 29 May 2009

James Pounder and Matthew Clarke

Abstract

Details

Education, Business and Society: Contemporary Middle Eastern Issues, vol. 2 no. 2
Type: Research Article
ISSN: 1753-7983

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Article
Publication date: 14 May 2020

Anita Rath

The purpose of this paper is to find out the factors contributing to major shifts in the growth of tax revenue through the estimation of structural breaks and analysis of…

Abstract

Purpose

The purpose of this paper is to find out the factors contributing to major shifts in the growth of tax revenue through the estimation of structural breaks and analysis of major tax regimes. Recent contributions to optimal tax theory and empirical literature on the Laffer curve effect, based on elasticity of taxable income, challenge the settled understanding on the rate-revenue relationship. In this backdrop, the objective of the paper is to find out the relative significance of changes in tax rate, tax base and administrative reforms in affecting the growth of tax revenue in India. The paper considers tax data spanning a period of six and half decades for five major components of direct and indirect taxes (corporation, personal income, customs, excise and service) of the central government of India.

Design/methodology/approach

Unknown break point(s) – single and multiple – in the tax structure are identified by using the Quandt-Andrews and Bai-Perron econometric tests. These tests were conducted for two models of growth of taxes (tax revenue and tax-NDP ratio) estimated using semi-log functions. A simulation exercise was conducted to find out the robustness of the results by varying the trimming parameter and number of breaks. An analytical framework is used to understand the factors associated with these breaks.

Findings

There is more than one break identified for every tax component as per the results of Bai–Perron test. The simulation exercise suggests that estimated breakpoints are mostly robust. Economic growth, structural changes in the economy, simplification and rationalization of tax structure, tax competition, policies such as liberalization have contributed to the changing tax regimes. Results of this study suggest that high tax rates have not been, in particular, detrimental to achieving growth in revenue and factors other than changes in tax rates have been more prominent in bringing about the shifts.

Originality/value

This is, perhaps, the first paper exploring the multiple structural breaks in the fiscal variables in India. It offers an understanding of the changing regimes of central government taxes and the underlying factors for the same.

Details

Indian Growth and Development Review, vol. 14 no. 1
Type: Research Article
ISSN: 1753-8254

Keywords

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Article
Publication date: 3 April 2009

Pawan Kumar Gupta and Jagdish Arora

The purpose of this paper is to report on a national seminar held at the India Habitat Centre, New Delhi, on 29‐30 January 2009.

Abstract

Purpose

The purpose of this paper is to report on a national seminar held at the India Habitat Centre, New Delhi, on 29‐30 January 2009.

Design/methodology/approach

This is a descriptive report.

Findings

The national seminar focused on open access of textual and multimedia content looking at collaboration between two inter‐university centres of the University Grants Commission (UGC), INFLIBNET (Information and Library Network) Center in Ahmedabad and the Center for Educational Communication (CEC) in New Delhi.

Originality/value

It will be of interest to the library and information professionals especially to the media professionals across the country. It may also be helpful to the professionals of the Asian countries at some extend. A detailed version of this report published in the seminar website and it may also appear in the forthcoming INFLIBNET newsletter for the INFLIBNET members.

Details

Library Hi Tech News, vol. 26 no. 3/4
Type: Research Article
ISSN: 0741-9058

Keywords

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