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There is ample evidence that internal capital markets incur efficiency costs for multinational enterprises (MNEs). This paper analyzes whether tax avoidance behavior interacts with the costs of running an internal capital market and how policies of competing governments respond to it. We show...
Persistent link: https://www.econbiz.de/10013077455
This paper analyses the development of the ratio of corporate taxes to wage taxes using a simple political economy model with internationally mobile and immobile firms. Among other results, our model predicts that countries reduce their corporate tax rate, relative to the wage tax, either when...
Persistent link: https://www.econbiz.de/10012780459
distinct impact of financial integration and globalization on several dimensions of real activity. We find that: financial … financial integration predict better growth prospects; both advances in financial integration and globalization are associated … financial integration and globalization indeed foster countries' growth, and there appears to be no trade-off between these …
Persistent link: https://www.econbiz.de/10013091562
consumers is an important channel through which firms' participation in international markets increases their exposure to …
Persistent link: https://www.econbiz.de/10013000911
large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify …
Persistent link: https://www.econbiz.de/10012920861
programs and the benefits of international antitrust cooperation between agencies. When international antitrust prosecution is …
Persistent link: https://www.econbiz.de/10013144908
For a long time globalization could be seen everywhere but in gravity estimates. We offer evidence how globalization …
Persistent link: https://www.econbiz.de/10012963770
actual aggregate cross-section data for 89 countries in 2011 to a hypothetical world without FDI. The gains from FDI amount … to 9% of world's welfare and to 11% of world's trade, unevenly distributed among winners and losers. Net exports of FDI …
Persistent link: https://www.econbiz.de/10012947623
of the world economy that can be explained by incorporating the theory of the firm into the theory of international trade …
Persistent link: https://www.econbiz.de/10013071383
This paper develops an elementary theory of global supply chains. We consider a world economy with an arbitrary number …
Persistent link: https://www.econbiz.de/10013316027