Do reductions in capital income taxes attract foreign capital and, at the same time, foster economic growth? This paper examines the effect of capital income taxation on the international allocation of capital and on economic growth in a two-country overlapping generations model with endogenous...

This paper examines the intertemporal effect of corporate income taxation on the investment behavior of a firm that faces imperfect capital markets. It shows that when capital markets are imperfect, the optimizing firm goes through different phases of growth. In this dynamic setting, the effect...

This report compiles a rich set of previously unavailable data to define where the education sector in Albania has evolved, what key challenges remain, and the priority areas for action by the Albanian government. The report finds that four broad tasks must be tackled to improve education. The...