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Tax Policy and Public Finance
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Tax Policy and Public Finance

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Economics and Finance".

Deadline for manuscript submissions: closed (31 December 2021) | Viewed by 4952

Special Issue Editor

Prof. Dr. Mehmet Serkan Tosun

E-Mail Website
Guest Editor
Department of Economics, University of Nevada, Reno, Mail Stop 0030, Reno, NV 89557, USA
Interests: public finance; tax policy; corporate taxation; tax competition; border sales; demography; population aging; regional economics; regional development

Special Issue Information

Dear Colleagues,

The COVID-19 pandemic has highlighted the importance of government policies. Governments are revisiting their tax policies and working to implement tax reform to prepare for the post-pandemic world. Rising debt, defaults, business closures, poverty, and inequality are some of the problems faced by many countries around the world. This Special Issue will feature papers from scholars in the area of tax policy and public finance. We particularly encourage the submission of papers related to the tax policy response to COVID-19.

The topics covered in this Special Issue will include, but will not be limited to:

  • taxation and business activity;
  • tax policy and economic development;
  • tax policy uncertainty;
  • state and local public finance and fiscal federalism; and
  • taxation and financial markets.

Prof. Dr. Mehmet Serkan Tosun
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • taxation
  • tax policy
  • public finance
  • economic development
  • tax policy uncertainty

Published Papers (2 papers)

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Research

15 pages, 2194 KiB  
Article
Spatial Fiscal Interactions in Colombian Municipalities: Evidence from Oil Price Shocks
by Raju Mainali
J. Risk Financial Manag. 2021, 14(6), 248; https://doi.org/10.3390/jrfm14060248 - 02 Jun 2021
Cited by 3 | Viewed by 2186
Abstract
This study provides an empirical investigation of fiscal interactions in the context of a developing country. I examine three fiscal components—budget balance, tax revenue, and public spending—to measure spatial interactions between Colombian municipalities from 2000 to 2010. I am using variables on municipalities’ [...] Read more.
This study provides an empirical investigation of fiscal interactions in the context of a developing country. I examine three fiscal components—budget balance, tax revenue, and public spending—to measure spatial interactions between Colombian municipalities from 2000 to 2010. I am using variables on municipalities’ general characteristics, fiscal variables, and variables related to the conflict. I use a quasi-experimental identification strategy exploiting exogenous variation from global oil price shocks that affect Colombian municipalities to different degrees depending on local oil endowments. I find significant spatial interaction in taxes but no significant interaction concerning budget balance and total public spending. This suggests that even though there is local tax competition, municipalities do not mimic their neighbors to decide whether to offset tax changes by changes in borrowing or spending. Full article
(This article belongs to the Special Issue Tax Policy and Public Finance)
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17 pages, 486 KiB  
Article
How Does Aggregate Tax Policy Uncertainty Affect Default Risk?
by Mehmet Serkan Tosun and Serhat Yildiz
J. Risk Financial Manag. 2020, 13(12), 319; https://doi.org/10.3390/jrfm13120319 - 12 Dec 2020
Cited by 2 | Viewed by 2021
Abstract
We examine the impact of aggregate tax policy uncertainty on firm-level default risk. Due to uncertainties associated with tax policies, firms could have difficulties in determining their optimal debt level and use too much debt to increase their values. This can increase firms’ [...] Read more.
We examine the impact of aggregate tax policy uncertainty on firm-level default risk. Due to uncertainties associated with tax policies, firms could have difficulties in determining their optimal debt level and use too much debt to increase their values. This can increase firms’ financial risk and default probabilities. At the same time, tax policy uncertainty may lead some firms to take less risk which could lower their use of debt and in turn lower the probability of default. We find that tax policy uncertainty is positively associated with firms’ expected default probabilities. In terms of economic significance, our findings show an increase of 14.83% in expected default probability, on a relative basis. Our results are robust to controlling for conditions of the economy, conditions of the stock market, financial constraints of firms, and credit quality of firms. Our evidence adds to two strands of research: research on taxation and firms’ risk profiles and the impact of policy uncertainty on firms’ decisions. Full article
(This article belongs to the Special Issue Tax Policy and Public Finance)
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