We study the efficiency of capital allocations at state-controlled and privately owned business groups in China. Using …

We examine the patterns of media ownership in 97 countries around the world. We find that almost universally the …

This paper estimates the efficiency consequences of interactions between nominal tax systems and inflation in open … capital movement and influencing domestic and foreign tax receipts, saving, and investment. The efficiency costs of inflation …

Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather … heavily regulated. It also makes predictions, both across activities and across jurisdictions, for the efficiency of …

attributed to a single dimension of underlying firm heterogeneity, efficiency. Conditional on entry, underlying efficiency …

This paper evaluates the political economy and structural factors explaining the collection efficiency of the Value … Added Tax [VAT]. We consider the case where the collection efficiency is determined by the probability of audit and by the … penalty on underpaying. Implementation lags imply that the present policy maker determines the efficiency of the tax system …

, on average. The results provide new objective indicators of government efficiency across countries, based on a simple and …

differences, summarize their consequences, and assess potential strategies of corporate governance reform. We argue that the legal … approach is a more fruitful way to understand corporate governance and its reform than the conventional distinction between …

threatened Turkey and Argentina (2000 and 2001) and most recently Brazil (again). This article discusses the reform of the …