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【3月30日】【財稅論壇】Taxational Resource Curse-Evidence from China

[發表時間]:2019-03-28 [來源]:財政稅務學院 [瀏覽次數]:







  主講人簡介:陳曉光,西澳大學商學院助理教授,鄒至莊經濟學獎得主,在“Journal of Public Economics”、“Economic Letters”、《中國社會科學》、《經濟研究》、《經濟學(季刊)》等雜志上發表過多篇論文。

  Abstract:We study tax enforcement in a two-sector economy and focus on cross-sector effect of sectoral shocks. Specifically, we investigate whether business fluctuation in mining sector can translates into volatile tax enforcement in non-mining sectors. A theoretical model suggests sectoral compositional change affect tax enforcement on all sectors in an economy with differential tax rates across sectors. Using the firm panel data from the Annual Survey of Industrial Production in China during 2000 and 2007, we instrument the value-added share of mining sector by employing customs prices of mining commodities. The 2SLS results show that the total effective tax rate of the non-mining sector rises as the value-added share of the mining sector falls, and vice versa. However, both the statutory tax rate of all firms and the macro effective tax rate of mining sector at prefecture level remain constant. The results are robust to two alternative measurements of tax enforcement – the effective VAT rate and the profit gap rate. The findings suggest cyclical sectoral tax enforcement spreads the risk from the mining sector to other sectors. In the end, we show that the volatile mining sector consequently reduce firms' TFP. The results suggest that the volatile tax enforcement can be a mechanism underlying the resource volatility curse.