In this paper an index of financial competitiveness is calculated that corresponds to the market-to-book ratio of inward FDI stocks. For a panel of five advanced economies from 1980 to 2006 it is shown that price competitiveness, stable inflation rates and registered patents have a positive...

This report looks at how corporate income taxes have changed over the past two decades, what incentives they provide for domestic and international investment, and whether changes in the international economy have helped shape these reforms.