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Tax policy as industrial policy in comparative capitalisms


Haffert, Lukas (2021). Tax policy as industrial policy in comparative capitalisms. Journal of Economic Policy Reform, 24(4):488-504.

Abstract

This paper analyzes fiscal policy from a growth model perspective, with a particular focus on taxation. It argues that tax policies channel resources into specific sectors of the economy and thereby affect the distribution of market incomes. Tax policy can thus be a mid-range form of industrial policy which does not leave resource allocation entirely to the market but does also not seek to “pick winners”. To develop policies that help to rebalance existing growth models and to reduce inequality, this understanding of tax policy, and fiscal policy more broadly, needs to return to the agenda of researchers and policymakers.

Abstract

This paper analyzes fiscal policy from a growth model perspective, with a particular focus on taxation. It argues that tax policies channel resources into specific sectors of the economy and thereby affect the distribution of market incomes. Tax policy can thus be a mid-range form of industrial policy which does not leave resource allocation entirely to the market but does also not seek to “pick winners”. To develop policies that help to rebalance existing growth models and to reduce inequality, this understanding of tax policy, and fiscal policy more broadly, needs to return to the agenda of researchers and policymakers.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:06 Faculty of Arts > Institute of Political Science
Dewey Decimal Classification:320 Political science
Scopus Subject Areas:Social Sciences & Humanities > Business and International Management
Social Sciences & Humanities > General Economics, Econometrics and Finance
Uncontrolled Keywords:general economics, econometrics and finance, business and international management fiscal policy, taxation, growth models, allocation, distribution, inequality, varieties of capitalis, mindustrial policy
Language:English
Date:October 2021
Deposited On:07 Dec 2021 14:44
Last Modified:26 Jun 2024 01:45
Publisher:Taylor & Francis
ISSN:1748-7870
OA Status:Closed
Publisher DOI:https://doi.org/10.1080/17487870.2019.1638115