Previous empirical research has assumed that goods trade responds to goods trade preferentialism only, while other forms of preferentialism such as services trade or investment preferentialism are irrelevant for goods trade. This paper provides novel evidence for the gains from a broader scope...

Until 2009, the United Kingdom operated a system of worldwide taxation. Taxation of foreign income was deferred until repatriated as dividends, leaving UK-owned multinational firms the possibility of avoiding UK taxation by delaying dividend payments and keeping earnings abroad. In 2009, the UK...