TITLE:
Economic Growth and Optimal Taxation: A Case of Mongolian Economy
AUTHORS:
B. Lkhagvajav, R. Enkhbat, D. Suvdaa, Ch. Ankhbayar
KEYWORDS:
Tax Burden Rate, Growth, Scully Model, Log-Log Model
JOURNAL NAME:
iBusiness,
Vol.11 No.2,
June
21,
2019
ABSTRACT: We examined three cases of Schully model [1] [2] for
Mongolian economy. In the first case, we consider the production function with constant returns to
scale. In the second case, we employ an econometric model for the production function
with none constant return to scale without constraints on parameters of
elasticities. Finally, the constrained regression model has been
implemented by solving a convex minimization problem over a convex set. Also, we have proved that
Schully production function namely, “U shape function” in the literature [1] [2] [3] in fact is concave function under
some assumptions.