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Stock markets, banking institutions,...

Subramaniam, Subitha.

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Stock markets, banking institutions, and economic growth in India and Malaysia.

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	Stock markets, banking institutions, and economic growth in India and Malaysia./
作者:	Subramaniam, Subitha.
面頁冊數:	98 p.
附註:	Source: Dissertation Abstracts International, Volume: 58-03, Section: A, page: 1004.
Contained By:	Dissertation Abstracts International58-03A.
標題:	Business Administration, Banking. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9727395
ISBN:	0591364239

Stock markets, banking institutions, and economic growth in India and Malaysia.
Subramaniam, Subitha.

Stock markets, banking institutions, and economic growth in India and Malaysia. - 98 p.

Source: Dissertation Abstracts International, Volume: 58-03, Section: A, page: 1004.

Thesis (Ph.D.)--Duke University, 1997.

This dissertation analyzes the links between financial markets, tax evasion, and economic growth in India and Malaysia. First, it develops a theoretical model to capture the dynamic response of capital accumulation to changing financial structures within an economy. Testing the theoretical model with Indian and Malaysian data shows that stock markets and banks have been vital for economic growth in both countries. Evidence linking financial markets to economic growth is stronger for Malaysia than India. This finding suggests that free functioning financial institutions in Malaysia have been instrumental in building capital stock and promoting economic growth. If the Indian Government seeks to build capital stock and promote economic growth, evidence from Malaysia suggests that India ought to remove financial controls, strengthen the capacity of financial institutions, and implement regulations to simplify legal and accounting rules in equity markets.

ISBN: 0591364239Subjects--Topical Terms:

1018458
Business Administration, Banking.

Stock markets, banking institutions, and economic growth in India and Malaysia.
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245 1 0 $a Stock markets, banking institutions, and economic growth in India and Malaysia.
300 $a 98 p.
500 $a Source: Dissertation Abstracts International, Volume: 58-03, Section: A, page: 1004.
500 $a Supervisor: Kent Kimbrough.
502 $a Thesis (Ph.D.)--Duke University, 1997.
520 $a This dissertation analyzes the links between financial markets, tax evasion, and economic growth in India and Malaysia. First, it develops a theoretical model to capture the dynamic response of capital accumulation to changing financial structures within an economy. Testing the theoretical model with Indian and Malaysian data shows that stock markets and banks have been vital for economic growth in both countries. Evidence linking financial markets to economic growth is stronger for Malaysia than India. This finding suggests that free functioning financial institutions in Malaysia have been instrumental in building capital stock and promoting economic growth. If the Indian Government seeks to build capital stock and promote economic growth, evidence from Malaysia suggests that India ought to remove financial controls, strengthen the capacity of financial institutions, and implement regulations to simplify legal and accounting rules in equity markets.
520 $a Next, the dissertation extends the analysis by examining why governments repress the financial sector. It develops a theoretical model to show that governments may choose to impede the financial sector, as in the Indian case, when traditional sources of government revenue, such as income taxes, are ineffective in raising revenue. When tax evasion is pervasive, governments repress real interest rates to finance expenditure via inexpensive public debt and inflation. Therefore, governments committed to economic growth must also address the problems of an inefficient tax system while reforming the financial sector.
520 $a Finally, this dissertation shows that financially repressive policies in India were implemented during periods of widespread tax evasion. In a sample of 1,836 income tax payers during the twelve year period 1982-94, 31% of total income was undeclared and hence untaxed. Using Panel Data Analysis, it shows that high marginal tax rates, coupled with a taxation framework beset with loopholes (frequent Amnesty, Bearer Bonds, and Voluntary Disclosure Schemes) reduced the credibility of the tax system and contributed to evasion. Hence, tax compliance can be increased substantially by emphasizing basic structural reforms.
590 $a School code: 0066.
650 4 $a Business Administration, Banking. $3 1018458
650 4 $a Economics, Finance. $3 626650
650 4 $a Economics, General. $3 1017424
650 4 $a History, Asia, Australia and Oceania. $3 626624
650 4 $a Political Science, Public Administration. $3 1017438
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773 0 $t Dissertation Abstracts International $g 58-03A.
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790 1 0 $a Kimbrough, Kent, $e advisor
791 $a Ph.D.
792 $a 1997
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9727395