This article studies the effects of tax competition on the provision of public goods under business risk and partial …

) induces a shift, but not a plunge toward that asset. Even when there are no explicit barriers to capital mobility risk … and risk aversion justify the relatively inelastic response to changes in relative returns. Only risk neutral investors … not perfectly substitutable in portfolios (Slemrod, 1988, p. 138). The more diverse risk characteristics (covariance …