Macroeconomic Management and Government Finances
Asian Development Bank
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Impact of direct taxes
While both direct and indirect tax revenues, measured as ratios to GDP, have significant positive effects on investment and significant negative effects on consumption, the response of investment and consumption to direct taxes is greater than the response to indirect taxes, observe Shashanka Bhide and Kanhaiya Singh in one of the essays included in Macroeconomic Management and Government Finances from Asian Development Bank.