Many developing countries pursue policies that treat large and small firmsdifferently. For example, large firms may be subject to a value added tax whilesmall firms are explicitly exempted. Moreover, governments often find itimpractical to collect taxes from the smallest enterprises; this may...

Both policy makers and researchers have devoted considerable attention in recent years to the large current account and capital account imbalances among OECD countries. In particular, the size of the United States current account deficit has attracted intense attention and spawned numerous...