Theoretical review of the impact of customs duties revenue on economic growth
Theoretical review of the impact of customs duties revenue on economic growth

Summary/Abstract: The focus of this research paper is to explore the complex correlation between revenue generated from customs duties and the growth of an economy. By examining theoretical frameworks and analyzing empirical evidence from different contexts, this study aims to shed light on the intricate nature of this relationship. Through a meticulous review of existing literature, the research uncovers both the direct and indirect pathways through which customs duties revenue impacts the trajectory of economic growth. Through the integration of findings from a range of studies this study brings attention to the intricate consequences of customs duties revenue on crucial economic metrics such as the growth of GDP, trade dynamics, investment trends, and the effectiveness of fiscal policies. It delves into the ways in which disparities in tariff configurations, trade openness, and institutional frameworks influence the impact of customs duties revenue on economic expansion in various nations and regions. In addition, the paper delves into the possible compromises and policy considerations linked to the dependence on customs duties as a means of government revenue. It emphasizes the significance of maintaining a balance between generating income and promoting overall economic growth, especially in the face of globalization and changing trade patterns.

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