The purpose of this paper is to test the hypothesis first documented by Romer (1993), that inflation is lower in more open economies. According to this hypothesis, central banks have a smaller incentive to engineer surprise inflations in economies that are more open because the Phillips curve is...

One way to finance government expenditures is to collect taxes. Regarding to this financial source compared with other sources positive tax knowledge sharing amongst people or tax payers lead to effective investment. Unlike developing countries in developed countries - that taxes have little...