The tax office wins most cases in Japan. We think about why this might be. We find that although judges who rule in favor of the taxpayer do not suffer in their future careers, if the loser-- whether governemnt or taxpayer--appeals and wins, the reversed judge's career does take a turn for the...

This work is focused on identifying the relationship an economic system and its policies have with the environment. The biosphere is chosen in particular as object of analysis but this can be extended by means of an ecosystem recursive properties. The common factor involved in the relationship...

This paper examines industrial differences in depreciation rates and the suitability of financial data for a microeconomic analysis. Depreciation is a main source of enterprise investment and serves as a source for replacement of obsolete or used-up capital. The findings on capital structure in...

The countries of the world have public finance systems that can generally be broken down into three categories. Advanced western democracies (and Japan) have long-established, often complex systems. Emerging economies such as those in Eastern Europe and China are in the process of moving from...

Electoral constituencies recognize favorable policy outcomes in high- turnout jurisdictions (Key 1984 [1949]; Hamilton 1993; Fleck 1999). In the present paper, I evaluate whether underlying institutions might provide a finer explanation of this relationship. To do so, I formally examine variation in...

This paper addresses the recent Mexico experience in the opening to competition in networks infrastructure mainly in the telecommunications sector. In spite of deregulation and privatization policies in the recent past, there are threats from regulatory failures which create obstacles in the...

In the light of the inequity of the way losses from bank insolvencies and their avoidance through intervention by the authorities have been distributed over creditors, depositors, owners and the population at large in transition and emerging economies, this paper explores a number of regulatory...

This paper analyses bank exit (ie reorganisation and liquidation) legislation in selected financial centres: New York, London, Frankfurt, Helsinki and Tokyo. The focus is on bank exit legislation applicable to commercial banks. The legislation is analysed from the perspective of bank...

In environments where regulations are lax and controls function badly, cleanly participating in tenders is irrational. An increase in one single firm’s propensity to bribe induces the same behaviour upon the others (“bad apple effect”), and the likelihood of firms to bribe tends to...