An Empirical Analysis of the Prominent Roles of Taxations in the Synchronicity on Boost of Maritime Industry in Singapore

V. U. Duc Cong, Kihwan Lee and V. U. Hoang Long
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V. U. Duc Cong: Division of Shipping Management, Korea Maritime and Ocean University, S. Korea
Kihwan Lee: Division of Shipping Management, Korea Maritime and Ocean University, S. Korea,
V. U. Hoang Long: Researcher, Director of Hoang Long Packaging and Construction Co., Ltd (Hoang Long Co., Ltd)

International Journal of Economics and Financial Issues, 2016, vol. 6, issue 1, 118-131

Abstract: This research examines the causal nexuses of the taxations and financial elements in the synchronistic policy that Singapore has applied to radically boost its maritime and offshore fields to develop its economic growths (EGs) and make Singapore to be a remarkable country in the world in term of ships building volumes, the numbers of ship registries, and the numbers of deadweight in thousands tons arriving at ports nowadays. There are several factors relating to the EGs and increased numbers of vessels arriving at ports for instant those are the volumes of import and export merchandises, prices of petrochemical and refined oils, services, etc. In this research, it is aimed at decipher the real effectiveness, the interferences, and the prominent roles of corporate tax (TAX) when it is employed together with the domestic credit to private sector (CRE_X1), the real interest rate (RRATE_X2), and the listed stock companies (STOCK_CO) in one synchronous-financial model during the 1980-2014 period by using the co-integration and vector error correction models for Granger causality tests, and based on the empirical findings, policymakers could find some interesting issues to their developing plans, hopefully.

Keywords: Maritime and Offshore Industry; Economic Growth; Co-integration; Granger Causality Tests; Singapore (search for similar items in EconPapers)
JEL-codes: C1 C2 (search for similar items in EconPapers)
Date: 2016
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