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Financial VAT May Improve Trade Openness

Author

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  • Julio López-Laborda

    (Department of Public Economics, University of Zaragoza, Spain)

  • Guillermo Peña

    (Department of Public Economics, University of Zaragoza, Spain)

Abstract

This paper theoretically and empirically analyzes the influence on the rate of trade openness of the taxation of financial services under VAT. The empirical analysis is carried out using data from the OECD and 36 European Union countries for the period 1961-2012. Dynamic panel data techniques are used, concretely the GMM System, and an unbalanced panel is handled. The results corroborate that financial VAT, and in particular the “option-to-tax” method applied by some countries in the European Union, have a positive impact on a country’s rate of trade openness.

Suggested Citation

  • Julio López-Laborda & Guillermo Peña, 2020. "Financial VAT May Improve Trade Openness," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper2008, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    • Handle: RePEc:ays:ispwps:paper2008
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