Main Article Content
Abstract
This study analyzes the influence of fiscal policy on economic inequality and sustainable development in ASEAN (Association of Southeast Asian Nations). Through data and narrative analysis, we see that fiscal policy plays an important role in shaping economic conditions in ASEAN countries. Prudent and effective fiscal policies can reduce economic inequality, promote inclusive growth, and achieve sustainable development. However, ASEAN countries are faced with challenges in managing fiscal policy, such as institutional capacity that needs to be improved and complex regional policy harmonization. In the face of these challenges, there are important opportunities through regional cooperation, exchange of experiences, and capacity building. To achieve inclusive and sustainable growth, it is important for ASEAN countries to strengthen their institutional capabilities, enhance regional coordination, and capitalize on collaboration opportunities.
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References
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- Tanzi, V., & Zee, H. H. (2000). Tax policy for emerging markets: developing countries. National Tax Journal, 53(2), 299–322.
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References
Agustina, R., Dartanto, T., Sitompul, R., Susiloretni, K. A., Achadi, E. L., Taher, A., Wirawan, F., Sungkar, S., Sudarmono, P., & Shankar, A. H. (2019). Universal health coverage in Indonesia: concept, progress, and challenges. The Lancet, 393(10166), 75–102.
Asante, A., Price, J., Hayen, A., Jan, S., & Wiseman, V. (2016). Equity in health care financing in low-and middle-income countries: a systematic review of evidence from studies using benefit and financing incidence analyses. PloS One, 11(4), e0152866.
Asghar, R., Sulaiman, M. H., Mustaffa, Z., Ullah, N., & Hassan, W. (2022). The important contribution of renewable energy technologies in overcoming Pakistan’s energy crisis: Present challenges and potential opportunities. Energy & Environment, 0958305X221134110.
Balajee, A., Tomar, S., & Udupa, G. (2020). COVID-19, Fiscal stimulus, and credit ratings. Indian School of Business.
Bird, R. M. (2004). Administrative dimensions of tax reform. Asia-Pacific Tax Bulletin, 10(3), 134–150.
Chishti, M. Z., Ahmad, M., Rehman, A., & Khan, M. K. (2021). Mitigations pathways towards sustainable development: assessing the influence of fiscal and monetary policies on carbon emissions in BRICS economies. Journal of Cleaner Production, 292, 126035.
Corsetti, G., Meier, A., & Müller, G. J. (2009). Cross-border spillovers from fiscal stimulus.
Enzmann, P., & Moesli, M. (2022). Seizing opportunities: ASEAN country cluster readiness in light of the fourth industrial revolution. Asia and the Global Economy, 2(1), 100021.
Falkingham, J. (2004). Poverty, out-of-pocket payments and access to health care: evidence from Tajikistan. Social Science & Medicine, 58(2), 247–258.
Galindo-Martín, M.-Á., Castaño-Martínez, M.-S., & Méndez-Picazo, M.-T. (2021). Effects of the pandemic crisis on entrepreneurship and sustainable development. Journal of Business Research, 137, 345–353.
Giuliano, F., Lugo, M. A., Masut, A., & Puig, J. (2020). Distributional effects of reducing energy subsidies: Evidence from recent policy reform in Argentina. Energy Economics, 92, 104980.
Gollakota, A. R. K., & Shu, C.-M. (2023). COVID-19 and energy sector: Unique opportunity for switching to clean energy. Gondwana Research, 114, 93–116.
Gregorioa, G. B., & Ancog, R. C. (2020). Assessing the impact of the COVID-19 pandemic on agricultural production in Southeast Asia: toward transformative change in agricultural food systems. Asian Journal of Agriculture and Development, 17(1362-2020–1097), 1–13.
Heshmati, A., & Kim, J. (2014). A survey of the role of fiscal policy in addressing income inequality, poverty reduction and inclusive growth.
Hishamunda, N., Ridler, N. B., Bueno, P., & Yap, W. G. (2009). Commercial aquaculture in Southeast Asia: Some policy lessons. Food Policy, 34(1), 102–107.
Jetten, J., Wang, Z., Steffens, N. K., Mols, F., Peters, K., & Verkuyten, M. (2017). A social identity analysis of responses to economic inequality. Current Opinion in Psychology, 18, 1–5.
Kalkuhl, M., Fernandez Milan, B., Schwerhoff, G., Jakob, M., Hahnen, M., & Creutzig, F. (2018). Can land taxes foster sustainable development? An assessment of fiscal, distributional and implementation issues. Land Use Policy, 78, 338–352. https://doi.org/https://doi.org/10.1016/j.landusepol.2018.07.008
Kaosa-ard, M. (2002). Development and management of tourism products: the Thai experience. Chiang Mai University Journal, 1(3), 289–302.
Khan, Z., & Khan, M. A. (2023). Do fiscal and monetary policies contribute to income distribution? Empirical evidence from Central Asian Countries.
Kurauone, O., Kong, Y., Sun, H., Muzamhindo, S., Famba, T., & Taghizadeh-Hesary, F. (2021). The effects of International Financial Reporting Standards, auditing and legal enforcement on tax evasion: Evidence from 37 African countries. Global Finance Journal, 49, 100561.
Masud, M. M., Kari, F. B., Banna, H., & Saifullah, M. K. (2018). Does income inequality affect environmental sustainability? Evidence from the ASEAN-5. Journal of the Asia Pacific Economy, 23(2), 213–228.
McCollum, D. L., Echeverri, L. G., Busch, S., Pachauri, S., Parkinson, S., Rogelj, J., Krey, V., Minx, J. C., Nilsson, M., & Stevance, A.-S. (2018). Connecting the sustainable development goals by their energy inter-linkages. Environmental Research Letters, 13(3), 33006.
Pilinkienė, V., Stundziene, A., Stankevičius, E., & Grybauskas, A. (2021). Impact of the economic stimulus measures on Lithuanian real estate market under the conditions of the COVID-19 pandemic. Engineering Economics, 32(5), 459–468.
Ruankham, W., & Sethapramote, Y. (2023). Distributional Effects of Monetary Policy on Income Inequality: Evidence from Thailand. SOUTHEAST ASIAN JOURNAL OF ECONOMICS, 11(1), 1–42.
Saxena, S., Thornicroft, G., Knapp, M., & Whiteford, H. (2007). Resources for mental health: scarcity, inequity, and inefficiency. The Lancet, 370(9590), 878–889.
Sayidah, N., & Assagaf, A. (2019). Tax amnesty from the perspective of tax official. Cogent Business & Management, 6(1), 1659909.
Sodiq, A., Baloch, A. A. B., Khan, S. A., Sezer, N., Mahmoud, S., Jama, M., & Abdelaal, A. (2019). Towards modern sustainable cities: Review of sustainability principles and trends. Journal of Cleaner Production, 227, 972–1001.
Tanzi, V., & Zee, H. H. (2000). Tax policy for emerging markets: developing countries. National Tax Journal, 53(2), 299–322.
Tay, S. I., Alipal, J., & Lee, T. C. (2021). Industry 4.0: Current practice and challenges in Malaysian manufacturing firms. Technology in Society, 67, 101749.
Van de Werfhorst, H. G., & Salverda, W. (2012). Consequences of economic inequality: Introduction to a special issue. Research in Social Stratification and Mobility, 30(4), 377–387.
Warwick, R., Harris, T., Phillips, D., Goldman, M., Jellema, J., Inchauste, G., & Goraus-Tańska, K. (2022). The redistributive power of cash transfers vs VAT exemptions: A multi-country study. World Development, 151, 105742.
Yang, S., & Park, S. (2020). The effects of renewable energy financial incentive policy and democratic governance on renewable energy aid effectiveness. Energy Policy, 145, 111682.
Young, K. (2013). Financial industry groups’ adaptation to the post‐crisis regulatory environment: Changing approaches to the policy cycle. Regulation & Governance, 7(4), 460–480.
Zhou, L., Hu, J., Liu, D., & He, M. (2023). Studying the role of fiscal policy to utilize natural resources development: Leads to sustainable development goals. Resources Policy, 84, 103651.