A tax on gross assets has been introduced in some developing countries where several factors (most notably, high inflation) enabled apparently viable enterprises to report losses for income tax purposes. The idea of a tax on the value of assets, rather than on the income that the assets...

In Razin, Sadka and Yuen (1998, 1999a), we explored the policy implications of the home-bias in international portfolio investment as a result of asymmetric information problems in which domestic savers, being "close" to the domestic market, have an informational advantage over foreign portfolio...

The last two decades have witnessed a growing trends toward economic openness. The removal of borders among independent economic system - local, state, national or otherwise - has immense implications for the economic policies of eatch of these systems. Now capital, firms, and labor are able to...