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The Impact of Taxation on Economic Growth: Case Study of OECD Countries

100%
Macek R.
Review of Economic Perspectives
|
2014
|
vol. 14
|
issue 4
309-328
EN
The aim of this paper is to evaluate the impact of individual types of taxes on the economic growth by utilizing regression analysis on the OECD countries for the period of 2000–2011. The impact of taxation is integrated into growth models by its impact on the individual growth variables, which are capital accumulation and investment, human capital and technology. The analysis in this paper is based on extended neoclassical growth model of Mankiw, Romer and Weil (1992), and for the verification of relation between taxation and economic growth the panel regression method is used. The taxation rate itself is not approximated only by traditional tax quota, which is characteristic by many insufficiencies, but also by the alternative World Tax Index which combines hard and soft data. It is evident from the results of both analyses that corporate taxation followed by personal income taxes and social security contribution are the most harmful for economic growth. Concurrently, in case of the value added tax approximated by tax quota, the negative impact on economic growth was not confirmed, from which it can be concluded that tax quota, in this case as the indicator of taxation, fails. When utilizing World Tax Index, a negative relation between these two variables was confirmed, however, it was the least quantifiable. The impact of property taxes was statistically insignificant. Based on the analysis results it is evident that in effort to stimulate economic growth in OECD countries, economic-politic authorities should lower the corporate taxation and personal income taxes, and the loss of income tax revenues should be compensated by the growth of indirect tax revenues.
2

Privatisation and Investment Activity in the Tourism of the Republic of Serbia

100%
Gligorijević Ž., Ubavić P.
Economic Themes
|
2016
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vol. 54
|
issue 1
45-60
EN
As other countries of Central and Southeastern Europe, the Republic of Serbia at the end of the 20th and the beginning of the 21st century entered the process of universal transformation, which in essence represented a powerful political and economic movement for thorough changes in all parts of social and economic life. The central place in total transformational processes was taken by property, that is ownership transformation. The purpose of this research are numerous changes and the effects caused by the ownership transformation, that is privatisation in all economic activities, and in tourism as well. The research methods used in this paper are: analysis method, synthesis method, abstraction method, generalisation method, comparison method, as well as mathematical and statistical methods. The research results show that the effects of the privatisation in the tourism activities of Serbia are rather devastating. Besides, there were no necessary changes in other elements of business transformation (organisational, managerial, personnel, technological and other), what is the decrease in quality of tourist offer in Serbia and its bad position on the international tourism market. Taking into account that the Republic of Serbia has included the development of tourism amongst the priorities of its actual economic policy and development strategy, results of this research should by its originality, scientific approach to the subject of the research, quality and expertise, complete research material in this scientific field, also to point out new possibilities of Serbian tourism development to creators of economic, touristic and investment politics.
3
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Cryptocurrency with a Conscience: Using Artificial Intelligence to Develop Money that Advances Human Ethical Values

100%
Gladden M. E., Georgetown University W., Polish Academy of Science, matthew.e.gladden@gmail.com
Annales. Etyka w Życiu Gospodarczym
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2015
|
vol. 18
|
issue 4
EN
Cryptocurrencies like Bitcoin are offering new avenues for economic empowerment to individuals around the world. However, they also provide a powerful tool that facilitates criminal activities such as human trafficking and illegal weapons sales that cause great harm to individuals and communities. Cryptocurrency advocates have argued that the ethical dimensions of cryptocurrency are not qualitatively new, insofar as money has always been understood as a passive instrument that lacks ethical values and can be used for good or ill purposes. In this paper, we challenge such a presumption that money must be ‘value-neutral.’ Building on advances in artificial intelligence, cryptography, and machine ethics, we argue that it is possible to design artificially intelligent cryptocurrencies that are not ethically neutral but which autonomously regulate their own use in a way that reflects the ethical values of particular human beings – or even entire human societies. We propose a technological framework for such cryptocurrencies and then analyse the legal, ethical, and economic implications of their use. Finally, we suggest that the development of cryptocurrencies possessing ethical as well as monetary value can provide human beings with a new economic means of positively influencing the ethos and values of their societies.
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