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...

When properly structured, subnational bonds can become an excellent tool for infrastructure financing. A common concern when referring to developing nations, however, is the lack of an adequate bond repayment capacity. This article uses a multinomial regression model to analyze the bond...