Buoyant or Sinking? Tax Revenue Performance and Prospects in Developing Asia
Analysis suggests that short- and long-run tax buoyancy in developing Asia were close to one before COVID-19, indicating fiscal sustainability. The study estimates that in 2020 the pandemic caused these economies to lose average excess tax revenue equal to half a percentage point of 2019 GDP. It also finds that tax-to-GDP ratios are projected to improve toward 2030 in a majority of developing Asian economies, other things held constant.
- Testing Hypotheses
- Empirical Strategy and Findings
- Impact of COVID-19 on Tax Revenues
- Projection of Share of Tax to Gross Domestic Product in 2030