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The Exorbitant Tax Privilege
wright, tom - 2018
We estimate and attempt to explain the evolution of the taxes paid by U.S. multinationals on their foreign profits since 1966. In the oil sector, taxes paid to oil-producing States have been contained, allowing U.S. firms to earn high after-tax returns. Foreign taxes fell abruptly after the...
Persistent link: https://www.econbiz.de/10012911498
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The Contribution of Chinese FDI to Africa's Pre Crisis Growth Surge
Weisbrod, Aaron - 2011
In the 3 years before the 2008 Financial Crisis, GDP growth in sub Saharan Africa (averaged over individual economies … small, portion of the elevated growth in sub Saharan Africa in the three years before the Financial Crisis and also in the …
Persistent link: https://www.econbiz.de/10013119043
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African Export Successes : Surprises, Stylized Facts, and Explanations
Easterly, William - 2014
driven mostly by global commodity prices. In order to better understand the determinants of export success in Africa we …
Persistent link: https://www.econbiz.de/10013068915
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China's Growing Economic Activity in Africa
Besada, Hany - 2008
Trade between the whole of Africa and China (imports and exports summed) grew from $10.6 billion to $73.3 billion … between 2000 and 2007, and between Sub-Saharan Africa and China from $7 billion to $59 billion over the same period. China is … now Africa's third largest trading partner behind the EU and the US. The Chinese FDI stock in Africa has grown from $49 …
Persistent link: https://www.econbiz.de/10012771826
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The OPEC Surplus and U.S.-Ldc Trade
Branson, William H. - 2015
This paper explores the connections between the shift of world saving toward OPEC and the changing structure of U.S. trade with the non-oil developing countries. The basic point of the paper is that during the 1970s the U.S. economy has become more interdependent through trade with the newly...
Persistent link: https://www.econbiz.de/10012750407
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The U.S. Shale Oil Boom, the Oil Export Ban, and the Economy : A General Equilibrium Analysis
Cakir Melek, Nida - 2017
This paper examines the effects of the U.S. shale oil boom in a two-country DSGE model where countries produce crude oil, refined oil products, and a non-oil good. The model incorporates different types of crude oil that are imperfect substitutes for each other as inputs into the refining...
Persistent link: https://www.econbiz.de/10012947648
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Do CEOS Set Their Own Pay? The Ones Without Principals Do
Bertrand, Marianne - 2006
We empirically examine two competing views of CEO pay. In the contracting view, pay is used to solve an agency problem: the compensation committee optimally chooses pay contracts which give the CEO incentives to maximize shareholder wealth. In the skimming view, pay is the result of an agency...
Persistent link: https://www.econbiz.de/10012783957
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Lags, Costs, and Shocks : An Equilibrium Model of the Oil Industry
Bornstein, Gideon - 2017
We use a new micro data set that covers all oil fields in the world to estimate a stochastic industry-equilibrium model of the oil industry with two alternative market structures. In the first, all firms are competitive. In the second, OPEC firms act as a cartel. This effort is a first step...
Persistent link: https://www.econbiz.de/10012955791
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Are Energy Executives Rewarded for Luck?
Davis, Lucas W. - 2018
In this paper, we examine executive compensation data from 78 major U.S. oil and gas companies over a 24-year period. Perhaps in no other industry are the fortunes of so many executives so dependent on a single global commodity price. We find that a 10% increase in oil prices is associated with...
Persistent link: https://www.econbiz.de/10012906309
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Theft and Taxes
Desai, Mihir A. - 2010
This paper analyzes the interaction between corporate taxes and corporate governance. We show that the characteristics of a taxation system affect the extraction of private benefits by company insiders. A higher tax rate increases the amount of income insiders divert and thus worsens governance...
Persistent link: https://www.econbiz.de/10012762547