Inflation targeting and tax effort: Evidence from Colombia

Juan Camilo Galvis Ciro (jcgalvisciro@gmail.com) and Helder de Mendonça (helderfm@hotmail.com)

MPRA Paper from University Library of Munich, Germany

Abstract: This paper relates to the literature on the possible effect of inflation targeting on fiscal discipline in developing countries. In particular, we present empirical evidence to address this issue based on the Colombian experience. An empirical analysis to evaluate the reputation gains of the central bank on tax capacity use is made. The results indicate that an increase in the reputation of the monetary authority can lead to an increased tax effort.

Keywords: tax capacity; tax effort; inflation targeting; reputation. (search for similar items in EconPapers)
JEL-codes: E5 E51 E58 E61 (search for similar items in EconPapers)
Date: 2016-03-22, Revised 2018-12-14
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