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Economies, Volume 10, Issue 3 (March 2022) – 16 articles

Cover Story (view full-size image): In COVID-19 times, the healthcare system needs more financial and other resources for covering all necessary medical products and services. On the other hand, we have observed pressure on the effectiveness and optimisation of resources in hospitals and healthcare facilities. Digitalisation represents an important source of information for various levels of management in hospitals. The main aim of our research is the identification of the benefits of digitalisation of medical devices in hospitals in COVID-19 times, focusing on a case study of the Czech Republic. A literature review, data analysis, correlation analysis, and regression analysis were used. Management and financial issues are discussed, together with recommendations for healthcare sector management. View this paper
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12 pages, 297 KiB  
Article
Sustainable Growth Rate and ROE Analysis: An Applied Study on Saudi Banks Using the PRAT Model
by Farouq Altahtamouni, Ahoud Alfayhani, Amna Qazaq, Arwa Alkhalifah, Hajar Masfer, Ryoof Almutawa and Shikhah Alyousef
Economies 2022, 10(3), 70; https://doi.org/10.3390/economies10030070 - 21 Mar 2022
Cited by 10 | Viewed by 4814
Abstract
This study aims at testing the effect of the components of the PRAT model and the basic model developed by Robert Higgins on the rate of sustainable growth by applying them to a sample of Saudi banks during the period of 2010–2019. Regarding [...] Read more.
This study aims at testing the effect of the components of the PRAT model and the basic model developed by Robert Higgins on the rate of sustainable growth by applying them to a sample of Saudi banks during the period of 2010–2019. Regarding the PRAT model, as Higgins explained, it is that detailed model measuring the sustainable growth rate by profit margin (P), retention rate (R), asset turnover (A), and leverage (T). To test the relation between the study variables, multiple regression analyses were conducted using the Pooled Model (PEM), the Fixed Effect Model (FEM), and the Random Effect Model (REM). The results showed that all the variables of the PRAT model affect sustainable growth (profitability margin, retained earnings, asset turnover, and financial leverage). Moreover, the application of the basic model of Higgins shows that the rate of return on equity and retained earnings affect sustainable growth. When drawing a comparison among statistical measurement models and checking the validity of these models, the validity of the fixed effect model for measuring the relation between the variables of the PRAT model and Higgins basic model is seen. Full article
(This article belongs to the Special Issue Financial Economics: Theory and Applications)
13 pages, 303 KiB  
Article
The Influence of Operating Capital and Cash Holding on Firm Profitability
by Ashfaq Habib, Muhammad Asif Khan, József Popp and Mónika Rákos
Economies 2022, 10(3), 69; https://doi.org/10.3390/economies10030069 - 21 Mar 2022
Cited by 5 | Viewed by 5138
Abstract
This study analyzes the influence of operating capital on a firm’s profitability in the manufacturing sector of China. The study investigates that operating capital develops a non-linear relationship with firm profitability by using the ordinary least square (OLS), fixed effect (FE), and generalized [...] Read more.
This study analyzes the influence of operating capital on a firm’s profitability in the manufacturing sector of China. The study investigates that operating capital develops a non-linear relationship with firm profitability by using the ordinary least square (OLS), fixed effect (FE), and generalized method of moments (GMM) regression. The research reveals that positive operating capital in financially less-constrained firms significantly negatively influences the firm’s profitability. Conversely, negative operating capital in financially constrained firms significantly positively influences the firm’s profitability. Further, we find that financially less-constrained firms design an efficient level of operating capital by holding positive operating capital and negative cash, while constrained firms design an efficient level of operating capital by holding negative operating capital and positive cash. Additionally, we also identify the optimal level of operating capital to increase the firm’s profitability. Generally, we conclude that a firm can design a level of efficient operating capital by trading-off cash with non-cash assets. Full article
(This article belongs to the Special Issue Determinants of Firm Performance in Developing Countries)
15 pages, 1540 KiB  
Article
Digitalisation in Hospitals in COVID-19 Times—A Case Study of the Czech Republic
by Jarmila Zimmermannova, Lukas Pavlik and Ekaterina Chytilova
Economies 2022, 10(3), 68; https://doi.org/10.3390/economies10030068 - 17 Mar 2022
Cited by 4 | Viewed by 3483
Abstract
In COVID-19 times, the healthcare system needs more financial and other resources for covering all necessary medical products and services. On the other hand, we have observed pressure on the effectiveness and optimisation of resources in hospitals and healthcare facilities. Digitalisation represents an [...] Read more.
In COVID-19 times, the healthcare system needs more financial and other resources for covering all necessary medical products and services. On the other hand, we have observed pressure on the effectiveness and optimisation of resources in hospitals and healthcare facilities. Digitalisation represents an important source of information for various levels of management in hospitals. The main aim of our research is the identification of the benefits of digitalisation of medical devices in hospitals in COVID-19 times, focusing on a case study of the Czech Republic. For our methodological approach, a literature review, data analysis, correlation analysis, and regression analysis were used. The case study presents the changes to the equipment/facilities use in years 2019 and 2020 in a selected hospital in Prague and the impact of COVID-19 on such use of resources. Management and financial issues are discussed, together with recommendations for healthcare sector management. As a result, economic benefits are represented mainly by various kinds of savings and optimisation of both processes and employees. On the other hand, it is not easy to identify all possible savings, as some of them can be in non-financial expression. Full article
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19 pages, 381 KiB  
Article
Exchange Rate Volatility, Inflation and Economic Growth in Developing Countries: Panel Data Approach for SADC
by Ebenezer Olamide, Kanayo Ogujiuba and Andrew Maredza
Economies 2022, 10(3), 67; https://doi.org/10.3390/economies10030067 - 17 Mar 2022
Cited by 22 | Viewed by 8700
Abstract
In the Southern African Development Community, the relationships between exchange rate instability, inflation and economic growth remain at the forefront of economic debate because of the historical antecedent and economic clustering of member countries. Nonetheless, much is not known regarding the complexity, complementarity [...] Read more.
In the Southern African Development Community, the relationships between exchange rate instability, inflation and economic growth remain at the forefront of economic debate because of the historical antecedent and economic clustering of member countries. Nonetheless, much is not known regarding the complexity, complementarity or substitutability of exchange rate instability and inflation on economic growth for SADC countries. This article examined the influence of exchange rate instability on the inflation–growth nexus of the region for the period of 2000 to 2018. Three major techniques of analyses, Pooled Mean Group (PMG), Generalised Moments (GM) and Dynamic Fixed Effect (DFE), were employed in achieving the goal of the study, but the Pooled Mean Group estimator of the Panel Autoregressive Distributed Lag was favoured by the Hausman test as the main instrument. The GARCH (1, 1) was also employed to generate exchange rate instability. The findings of the study showed that exchange rate instability and inflation have a negative relationship with economic growth of the region. Results further show evidence that economic growth of the region is adversely influenced by the consequential effect of exchange rate instability on inflation: the higher the level of instability in exchange rate, the worse the inflationary-growth relationship of the region. This confirms the menu cost theory of price setting: the higher the rate of inflation, the quicker the exchange rate pass-through effect. It is therefore recommended that policies to ensure appreciation of local currencies should be the priority of member nations. Full article
(This article belongs to the Special Issue Issues in Macroeconomic Policy and Analysis in Recent Period)
12 pages, 486 KiB  
Article
Efficiencies of Faith and Secular Microfinance Institutions in Regions of Asia, Africa, and Latin America: A Two-Stage Dual Efficiency Bootstrap DEA Approach
by Adithya Kiran Kolloju and Michele Meoli
Economies 2022, 10(3), 66; https://doi.org/10.3390/economies10030066 - 16 Mar 2022
Cited by 2 | Viewed by 2472
Abstract
Purpose: the objective is to measure the financial and social performance of 127 microfinance institutions (MFIs) and observe the effects with explanatory factors such as “type”, “geography region”, and “secular and faith” variables. Design/methodology/approach: The time-series performance analysis of microfinance institutions is determined [...] Read more.
Purpose: the objective is to measure the financial and social performance of 127 microfinance institutions (MFIs) and observe the effects with explanatory factors such as “type”, “geography region”, and “secular and faith” variables. Design/methodology/approach: The time-series performance analysis of microfinance institutions is determined in two stages. In the first stage, both the social and financial efficiencies are measured with Data Envelopment Analysis (DEA) approach. The two explanatory factors along with faith and secular variables show the effect on these determined efficiencies by the second stage of the Tobit regression Random effect Model. Findings: Financial performance is greater than the social performance from the first stage analysis. When considering the explanatory variables, the social performances are not significant with religious factors. When the regression is performed in a group, the financial score is more significant with religious and other explanatory variables. Faith-based and secular-based microfinance institutions are strongly significant if the performances (efficiencies) are highly maintained. Originality/Value: faith and secular variables are identified based on the background/history information of each microfinance institution (MFI). Full article
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12 pages, 437 KiB  
Article
Gender, Perception of Audits, Access to Finance, and Self-Assessed Corporate Tax Compliance
by Sunardi Sunardi, Theresia Woro Damayanti, Supramono Supramono and Yustinus Budi Hermanto
Economies 2022, 10(3), 65; https://doi.org/10.3390/economies10030065 - 11 Mar 2022
Cited by 3 | Viewed by 3073
Abstract
This study explores the influence of financial statement audits on tax compliance directly and indirectly through access to finance, and it examines gender roles to improve tax compliance through access to finance and financial statement audits. The sample for this study consisted of [...] Read more.
This study explores the influence of financial statement audits on tax compliance directly and indirectly through access to finance, and it examines gender roles to improve tax compliance through access to finance and financial statement audits. The sample for this study consisted of 45,504 businesses located in developing countries, as determined by The World Bank Enterprise Survey 2006–2018. The primary findings of this study demonstrate that the audit of financial statements has a positive impact on tax compliance through access to finance. Another result is that firms with female top managers are more likely to comply with their tax obligations than those with male top managers. The key to improving tax compliance is that policymakers should encourage financial institutions to provide more significant opportunities for companies that audit financial statements to access larger amounts of capital and faster disbursement of funds. Firms should provide greater opportunities for women to occupy positions as top managers. It is the company’s responsibility to promote gender sharing programs, particularly for the human resources department. Our study integrates the concepts of financial statement audits, access to finance, and the gender of firm managers into a model to predict how firms comply with their tax obligations. Full article
(This article belongs to the Special Issue Determinants of Firm Performance in Developing Countries)
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27 pages, 1607 KiB  
Article
Predicting House Prices Using DMA Method: Evidence from Turkey
by Nuri Hacıevliyagil, Krzysztof Drachal and Ibrahim Halil Eksi
Economies 2022, 10(3), 64; https://doi.org/10.3390/economies10030064 - 10 Mar 2022
Cited by 8 | Viewed by 5154
Abstract
The aim of this study is to analyze the dynamics of the housing market in Turkey’s economy and to examine the impact of variables related to housing prices. Preferred by many international housing investors, Turkey hosts profitable real estate investments as one of [...] Read more.
The aim of this study is to analyze the dynamics of the housing market in Turkey’s economy and to examine the impact of variables related to housing prices. Preferred by many international housing investors, Turkey hosts profitable real estate investments as one of the developing countries with a shining housing market. This study applies the dynamic model averaging (DMA) methodology to predict monthly house price growth. With the increasing use of information technologies, Google online searches are incorporated into the study. For this purpose, twelve independent variables, with the Residential Property Price Index as the dependent variable, were used in the period January 2010–December 2019. According to the analysis results, it was observed that some variables, such as bond yields, the level of mortgages, foreign direct investments, unemployment, industrial production, exchange rates, and Google Trends index, are determinants of the Residential Property Price Index. Full article
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22 pages, 1224 KiB  
Article
The Influence of Family Governance on the Value of Chinese Family Businesses: Signal Transmission Effect of Financial Performance
by Yanan Li
Economies 2022, 10(3), 63; https://doi.org/10.3390/economies10030063 - 10 Mar 2022
Cited by 4 | Viewed by 2779
Abstract
The phenomenon of family governance in Chinese family businesses may not only signal a high second-party agency cost that infringes on the interests of small and medium shareholders, but it may also signal this as a stable governance structure. Based on the theory [...] Read more.
The phenomenon of family governance in Chinese family businesses may not only signal a high second-party agency cost that infringes on the interests of small and medium shareholders, but it may also signal this as a stable governance structure. Based on the theory of signal transmission, this paper studies the degree of influence of Chinese family governance on the corporate value of Chinese family businesses and the signaling role played by corporate financial performance in this process. This paper also analyzes a sample of Chinese A-share listed family businesses from 2011 to 2020. The results show that the family governance of Chinese family enterprises can promote the improvement of enterprise value, because operating capacity, solvency, profitability, and development capacity can improve the credibility of family governance signals. Full article
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17 pages, 284 KiB  
Article
Is Fiscal Decentralization Growth Enhancing? A Cross-Country Study in Developing Countries over the Period 1990–2014
by Kumba Digdowiseiso
Economies 2022, 10(3), 62; https://doi.org/10.3390/economies10030062 - 10 Mar 2022
Cited by 5 | Viewed by 2318
Abstract
For several decades, many scholars have widely debated the nexus between devolution of fiscal powers and efficiency. However, several studies have neglected the role of institutions and other institutional settings in fiscal decentralization. This study augments the literature by revisiting the fiscal decentralization–growth [...] Read more.
For several decades, many scholars have widely debated the nexus between devolution of fiscal powers and efficiency. However, several studies have neglected the role of institutions and other institutional settings in fiscal decentralization. This study augments the literature by revisiting the fiscal decentralization–growth nexus regarding institutional quality in 24 developing countries over the period 1990–2014. By using estimators of fixed effects (FE), random effects (RE), and the system generalized method of moments (GMM), it is shown that growth depends on the level of fiscal authority and its interaction with institutions. In this case, increasing the extent of cosharing has a detrimental effect on growth in countries with poor governance, a high risk of corruption, and nondemocratic governments. However, shared rule contributes to growth by enhancing the degree of law and order and the quality of bureaucracy. Full article
15 pages, 305 KiB  
Article
Cross-Region Comparison Intellectual Capital and Its Impact on Islamic Banks Performance
by Prasojo Prasojo, Winwin Yadiati, Tettet Fitrijanti and Memed Sueb
Economies 2022, 10(3), 61; https://doi.org/10.3390/economies10030061 - 10 Mar 2022
Cited by 6 | Viewed by 2635
Abstract
This paper uses the value-added intellectual coefficient (VAIC) to assess the performance of Islamic banks (IBs) by measuring return on assets (ROA) and income from financing Islamic banks (IFIB). The model tests the relationship between intellectual capital (IC) and IB performance in various [...] Read more.
This paper uses the value-added intellectual coefficient (VAIC) to assess the performance of Islamic banks (IBs) by measuring return on assets (ROA) and income from financing Islamic banks (IFIB). The model tests the relationship between intellectual capital (IC) and IB performance in various regions using a panel data regression methodology with a fixed-effects model and IB financial data for the period 2009–2019 from the BankScope database. The empirical results show that VAIC has a significant positive effect on IB performance using both ROA and IFIB proxies. Furthermore, human capital and capital employed efficiency have a positive relationship with ROA and IFIB, while structural capital efficiency has a relationship with ROA, but is not related to IFIB. The results can be used by companies in strategic decision making related to IC, especially human capital, structural capital, and employed capital. Full article
14 pages, 467 KiB  
Article
Cryptocurrencies and Tokens Lifetime Analysis from 2009 to 2021
by Paul Gatabazi, Gaëtan Kabera, Jules Clement Mba, Edson Pindza and Sileshi Fanta Melesse
Economies 2022, 10(3), 60; https://doi.org/10.3390/economies10030060 - 9 Mar 2022
Cited by 6 | Viewed by 2869
Abstract
The success of Bitcoin has spurred emergence of countless alternative coins with some of them shutting down only few weeks after their inception, thus disappearing with millions of dollars collected from enthusiast investors through initial coin offering (ICO) process. This has led investors [...] Read more.
The success of Bitcoin has spurred emergence of countless alternative coins with some of them shutting down only few weeks after their inception, thus disappearing with millions of dollars collected from enthusiast investors through initial coin offering (ICO) process. This has led investors from the general population to the institutional ones, to become skeptical in venturing in the cryptocurrency market, adding to its highly volatile characteristic. It is then of vital interest to investigate the life span of available coins and tokens, and to evaluate their level of survivability. This will make investors more knowledgeable and hence build their confidence in hazarding in the cryptocurrency market. Survival analysis approach is well suited to provide the needed information. In this study, we discuss the survival outcomes of coins and tokens from the first release of a cryptocurrency in 2009. Non-parametric methods of time-to-event analysis namely Aalen Additive Hazards Model (AAHM) trough counting and martingale processes, Cox Proportional Hazard Model (CPHM) are based on six covariates of interest. Proportional hazards assumption (PHA) is checked by assessing the Kaplan-Meier estimates of survival functions at the levels of each covariate. The results in different regression models display significant and non-significant covariates, relative risks and standard errors. Among the results, it was found that cryptocurrencies under standalone blockchain were at a relatively higher risk of collapsing. It was also found that the 2013–2017 cryptocurrencies release was at a high risk as compared to 2009–2013 release and that cryptocurrencies for which headquarters are known had the relatively better survival outcomes. This provides clear indicators to watch out for while selecting the coins or tokens in which to invest. Full article
(This article belongs to the Special Issue International Financial Markets and Monetary Policy)
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20 pages, 712 KiB  
Article
Understanding the Profitability, Supply, and Input Demand of Tobacco Farms in Khyber Pakhtunkhwa, Pakistan
by Sajjad, Zahoor ul Haq, Javed Iqbal and Muhammad Faisal Shahzad
Economies 2022, 10(3), 59; https://doi.org/10.3390/economies10030059 - 7 Mar 2022
Viewed by 5890
Abstract
Several studies investigate the various aspects of tobacco at the processing and cigarette manufacturing levels, but the profitability, supply response, and input demand of tobacco farms in Pakistan remain unknown. Our study fills this gap by examining farm-level profitability, input demand, and output [...] Read more.
Several studies investigate the various aspects of tobacco at the processing and cigarette manufacturing levels, but the profitability, supply response, and input demand of tobacco farms in Pakistan remain unknown. Our study fills this gap by examining farm-level profitability, input demand, and output supply using survey data of 140 tobacco farms by employing a profit function approach. The results show that tobacco production is not very lucrative at the farm level and farmers are responsive to changes in market prices for the inputs and output. The price of tobacco is the most important determinant of the output supply and demand for inputs, and farmers’ response to increasing tobacco prices is positive but inelastic in the study area. The use of variable inputs such as fertilizers, labor, mechanical power, pesticides, and farmyard manure is important in resource allocation decisions in tobacco production. As a result, a price increase for green tobacco leaves would significantly increase the demand for farm inputs such as fertilizers, labor, mechanical power, pesticides, and farmyard manure. Tobacco production is negatively affected by the increasing input prices in the study area. Among the fixed factors, land area has a significant impact on tobacco productivity in the province. The present study is the first to quantify the farm-level input demand and output supply; therefore, based on the findings, the increasing tobacco production requires higher output prices and reasonable input prices. Full article
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21 pages, 394 KiB  
Article
Drivers of Research Outcomes in Developing Countries: The Case of Lebanon
by Pierre Boutros and Ali Fakih
Economies 2022, 10(3), 58; https://doi.org/10.3390/economies10030058 - 4 Mar 2022
Cited by 6 | Viewed by 4150
Abstract
This paper uses a unique dataset from Lebanon, a developing country with unstable political conditions, to explore the drivers of research outcomes. We use the Negative Binomial model to empirically examine the determinants of the total number of publications and single and co-authored [...] Read more.
This paper uses a unique dataset from Lebanon, a developing country with unstable political conditions, to explore the drivers of research outcomes. We use the Negative Binomial model to empirically examine the determinants of the total number of publications and single and co-authored articles. The results indicate that males are more likely to publish co-authored papers than females. Moreover, our findings show a quadratic relationship between age and the number of published papers with a peak at the age of 40. After this turning point, the publication rate starts to decrease at an increasing rate. When we run the model by gender, we find that females in large departments tend to publish more co-authored papers. We also find that full professors tend to publish more papers in Q1 and Q2 journals, while associate professors have more papers in Q2 and Q3 journals. Full article
(This article belongs to the Special Issue Sociology of Economics)
17 pages, 840 KiB  
Article
Factors Affecting the Intention to Use Financial Technology among Vietnamese Youth: Research in the Time of COVID-19 and Beyond
by Nguyen Vinh Khuong, Nguyen Thi Thanh Phuong, Nguyen Thanh Liem, Cao Thi Mien Thuy and Tran Hung Son
Economies 2022, 10(3), 57; https://doi.org/10.3390/economies10030057 - 28 Feb 2022
Cited by 14 | Viewed by 9098
Abstract
This study focuses on understanding the factors that affect the intention of using financial technology among young Vietnamese in the context of the COVID-19 pandemic. Fintech studies are abundant in developed countries and mainly focus on consumers’ conditions, awareness, habits, and capital. These [...] Read more.
This study focuses on understanding the factors that affect the intention of using financial technology among young Vietnamese in the context of the COVID-19 pandemic. Fintech studies are abundant in developed countries and mainly focus on consumers’ conditions, awareness, habits, and capital. These are expected to differ significantly from the situation in developing countries. We have reviewed factors that can affect the user’s intention, including the Perceived Benefit (PB), Perceived Risk (PR), Belief (B), and Social Influence (SI), and rely on the Technology Acceptance Model (TAM) and the Theory of Reasoned Action (TRA) model in this research. The survey sample comprises 161 Z-generation consumers with strong flexibility and knowledge about the use of Fintech. We use the PLS-SEM (partial least squares structural equation modeling) analysis method with the SmartPLS software (SmartPLS GmbH, Oststeinbek, Germany) to evaluate the research model. We find that the Perceived Benefit (PB) has the most significant impact on the intention to use Fintech, followed by Belief (B). However, in general, the factors are not significant, perhaps due to many reasons that are intrinsic in Vietnam. Based on this result, service providers, policymakers, and researchers can calibrate the development and research for the following stages. We offer findings different from the previous research, thus especially extending the literature on young people. Full article
(This article belongs to the Special Issue The Impact of COVID-19 on Financial Markets and the Real Economy)
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12 pages, 1919 KiB  
Article
Transaction Network Structural Shift under Crisis: Macro and Micro Perspectives
by Andry Alamsyah, Dian Puteri Ramadhani, Farida Titik Kristanti and Khairunnisa Khairunnisa
Economies 2022, 10(3), 56; https://doi.org/10.3390/economies10030056 - 24 Feb 2022
Cited by 6 | Viewed by 2953
Abstract
In 2008, the Lehman Brothers’ bankruptcy, accumulated from the global financial crisis, proved a unique role of the highly interconnected financial entities. Shocks in a bank might trigger loss, induce spillovers, provoke a contagion shock spreading to other entities, trigger the whole banking [...] Read more.
In 2008, the Lehman Brothers’ bankruptcy, accumulated from the global financial crisis, proved a unique role of the highly interconnected financial entities. Shocks in a bank might trigger loss, induce spillovers, provoke a contagion shock spreading to other entities, trigger the whole banking system to collapse, and ultimately unsettle the worldwide economy. Therefore, evaluating financial stability through a system-wide network approach provides more adequate knowledge than evaluating a bank as an individual. In this approach, individual banks and their transaction activities are modeled into a transaction network, forming a network topology. Financial shocks are generally detected through various macro procedures, such as outstanding external debt and uncontrolled transaction deficits. This study proposes financial shock detection from a macro and micro perspective by exploring the effect of disruption on transaction network structure. We investigate the most changing triadic motif as a crisis predictor from a micro perspective due to the crisis period. The case study is the transaction network structural shift under the 2008 crisis in Indonesia, where the observations were performed from the pre-crisis to the post-crisis period. We discovered a motif with the significant changes as the underlying financial crisis predictor. This scenario provides support for the financial system’s stability control. Full article
(This article belongs to the Section Macroeconomics, Monetary Economics, and Financial Markets)
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17 pages, 842 KiB  
Article
Effect of the Complexity of the Customs Tax System on the Tax Effort
by Jazmín González Aguirre and Alberto Del Villar
Economies 2022, 10(3), 55; https://doi.org/10.3390/economies10030055 - 23 Feb 2022
Cited by 3 | Viewed by 3490
Abstract
This paper empirically analyses the effects of the tax complexity and other elements, such as natural resource revenues, public expenditure, and the capacity of the statistical system, on the efficiency of Ecuadorian Customs Administration. For this purpose, the methodology used consists of modeling [...] Read more.
This paper empirically analyses the effects of the tax complexity and other elements, such as natural resource revenues, public expenditure, and the capacity of the statistical system, on the efficiency of Ecuadorian Customs Administration. For this purpose, the methodology used consists of modeling a stochastic production frontier whose estimation procedure is based on the maximum likelihood method for a data panel composed of six countries: Bolivia, Chile, Colombia, Ecuador, Peru, and Panama for the period from 2006 to 2017. The results of the study show that the countries whose tax system has a lower degree of complexity present a better level of revenue collected and tax effort as well as an improvement in the quality and dissemination of national statistical data. Furthermore, this paper provides evidence that the tax effort tends to decrease when the price of crude oil is on the rise. Full article
(This article belongs to the Special Issue Nexus between Politics and Economics in the Emerging Countries)
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