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"In this paper, the authors describe South Africa's value added tax (VAT), showing that (1) the VAT is mildly regressive, and (2) it is an effective source of government revenue, compared with other tax instruments in South Africa. They evaluate the VAT in the context of other distortions in the...
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"The authors compare the two merger control systems currently employed worldwide: a mandatory system based on merger size threshold and a voluntary system with ex-post monitoring and fines. The voluntary system possesses two informational advantages: (i) the enforcement agency employs more...
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"The authors describe and analyze management in the Murray-Darling Basin of Australia, long regarded as a model for … integrated river basin management. This interior basin of over 1 million km2 in semi-arid southeastern Australia is defined by …, quality, and dryland salinity. Because of Australia's federal governmental structure, institutional development has been more …
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