01681cas a2200265 a 4500 AALejournalIMF007517 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451854466 1018-5941 BD-DhAAL BD-DhAAL Cashin, Paul. Tax Smoothing in a Financially Repressed Economy : Evidence from India / Paul Cashin, Nilss Olekalns, Ratna Sahay. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (43 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit: tax smoothing and tax tilting. This paper tests a version of Barro's tax-smoothing model, using Indian data for the period 1951-52 to 1996-97. The empirical results indicate that the central government of India has tax-smoothed, while the regional governments of India have not. The paper also finds evidence of tax tilting, reflected in financial repression, which has led to the accumulation of excessive public liabilities. Mode of access: Internet Olekalns, Nilss. Sahay, Ratna. IMF Working Papers; Working Paper ; No. 1998/122 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/122/001.1998.issue-122-en.xml IMF e-Library