An ongoing debate in the tax competition literature is the desirability for a system of countries, or regions, to restrict the preferential treatment of different forms of capital. A widespread belief is that without such restrictions, countries would aggressively compete for mobile capital,...

We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported their parents through internal lending, became financially constrained...

We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported their parents through internal lending, became financially constrained...

1. Global finance -- 2. Global finance : what it is and how it operates -- 3. The history and social geography of global finance -- 4. The social actors in global finance : market culture and financial knowledge -- 5. Society and finance : an alternative theoretical approach -- 6. Global finance...