This report highlights the opportunities and challenges facing UK firms when investing or conducting business in Africa, with a particular emphasis on the non-extractive sector. It highlights the mutual benefits for Africa, in terms of economic transformation and growth, and for the UK, in...

We develop a framework to study the aggregate implications of taxing multinational enterprises (MNEs) that shift profits to tax havens by transferring ownership of nonrival intangible capital. We first prove analytically that profit shifting increases intangible investment, leading to higher...