Hsieh, Chang-Tai; Parker, Jonathan A. - In: ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN … (2007)
prospects and poorly developed financial markets because it primarily reduces the investment of financially constrained firms …, investment that has marginal product greater than the after-tax market real interest rate. Contrarily, taxes on distributed … profits or capital gains primarily reduce the investment of financially unconstrained firms. Chile experienced a banking …