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This paper reviews different literature strands and performs an empirical test to evaluate how capital ownership, particularly its nationality, might affect long-run economic develop- ment. Our results indicate that low and middle-income countries with larger foreign capital stock in 1980 had...
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Taxes have extraordinary roles in any country's economic development and policymaking. This study extends prior studies … by investigating the impact of direct and indirect taxes on the economic development of 47 developed and 90 developing … indirect) and economic development (GDPPC, FDI, and UE). In addition, the cross-sectional dependence (CD) test is used to …
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