While the economies of the fifteen countries that were in the European Union (EU15) in 2000 will continue to grow from now until 2040, they will not be able to match the surges in growth that will occur in South and East Asia. In 2040, the Chinese economy will reach $123 trillion, or nearly...

The paper develops an analytical framework where regional governments strategically determine the structure of the corporate profit tax system and profits are regionally allocated using an apportionment formula. Two important results emerge in a symmetric Nash equilibrium: (i) investment...

The paper develops an analytical framework where regional governments strategically determine the structure of the corporate profit tax system and profits are regionally allocated using an apportionment formula. Two important results emerge in a symmetric Nash equilibrium: (i) investment...