This paper proposes a framework for analyzing international-income taxation. The standard approach, involving the user cost of capital, is extended to incorporate the role of tax policy implemented by the home country. Tax provisions of home countries vary significantly. Of particular relevance...

In World Trade Organization (WTO) accession negotiations, telecommunications is always a sector that receives close scrutiny by the WTO Working Party, and the extent of market access and nondiscriminatory treatment of multinational telecommunications companies in Russia has been a significant...

The authors examine to what extent features of the international tax system and indicators of transaction costs affect the required rates of return on emerging stock markets. They show that the capital gains withholding tax levied on foreign portfolio investors increases required pre-tax rates...

The objective of this paper is to examine the effect of tax incentives on investment in physical capital and in research and development, and indirectly on output and the demand for labor and materials. For this purpose the authors calculate the effect of tax incentives on the rental prices of...

The authors developed a simple two-period general equilibrium model to analyze the macroeconomic impact of tax policies in Pakistan. They analyze two scenarios. In scenario 1, the investment tax credit rate is increased from 15 percent to 30 percent. The new fiscal regime increases investment...

The author analyzes (both theoretically and empirically) the international distortions and fiscal interdependence that arise because of different tax rates among a region's countries. The author also studies what happens when the countries try to harmonize taxes, focusing on how the...

Inflation causes conventionally reported income to differ from real economic income because standard accounting procedures are based on the assumption of price stability. Because of this mismeasurement of economic income, a tax on reported income may distort economic decisions and generate...

The authors argue that emerging economies borrow short term due to the high risk premium charged by international capital markets on long-term debt. They first present a model where the debt maturity structure is the outcome of a risk-sharing problem between the government and bondholders. By...

The success with which middle-income indebted developing countries have gained access to private international finance in the 1990s is a tribute to their own domestic economic performance, international policy in dealing with the debt crisis of the 1980s, and innovation in international...

Many private infrastructure projects mix regulation that subjects the private company to considerable risk, a government or regulator that is reluctant to see the company go bankrupt, and high leverage on the part of the company. If all goes well, equityholders make a profit, debtholders are...