Services trade continues to be the most dynamic part of world trade, and service sectors have long been the largest destination of foreign direct investment flows. Countries can reap huge potential gains through greater liberalization of services trade and investment, including increased job...

Public opinion holds that large corporations should pay a higher statutory tax rate than other business firms, and enjoy fewer deductions in computing their taxable income. Americans and their representatives in Congress have long entertained the notion that a corporate check paid to the US...

It is not in the US interest to adopt tax and regulatory policies that would discourage global engagement by US multinational corporations (MNCs). Research presented in this book shows that the expansion of foreign affiliates of US MNCs is positively associated with more production, greater...

In the wake of the Great Recession of 2008–09, economists feared that protectionist policies might sweep the world economy, echoing the wave of tariff escalations during the Great Depression of the 1930s. To some surprise, officials were more restrained and largely avoided traditional forms of...

The need for US corporate tax reform is blindingly obvious. Conservatives contend that the top corporate tax rate—whether measured in statutory or effective terms—is the second highest in the Organization for Economic Cooperation and Development (OECD). Liberals argue that the US corporate...

The debate about "tax reform," during the 2012 presidential race and congressional budget battles this year has centered on closing loopholes, creating new incentives for growth, and raising revenue through higher personal taxation of wealthy Americans. But the debate overlooks an important...

Introduction -- Alternatives to LCRS -- Survey and case studies -- Healthcare sector in Brazil -- Wind turbines in Canada -- The automobile industry in China -- Solar cells and modules in India -- Oil and gas in Nigeria -- Not buying it: buy American/buy America -- Conclusions and recommendations

Executive summary -- Overview -- The role of US multinationals in the US economy and the evolution of their domestic operations -- Outward FDI by US multinationals: implications for US jobs, exports, and investment -- Globalization of R&D by US multinationals: implications for US prosperity --...