Traditional analysis of the taxation of income from capital has focused on the impact of tax on marginal investment decisions; the principal impact of tax on investment is through the cost of capital, and is generally measured by an effective marginal tax rate. In this paper, we consider cases...

This paper examines a two-way interaction between trade liberalization and economic growth. Through dynamic increasing returns to specialization, international trade can increase world growth rates. But growth, through specialization , alters patterns of comparative advantage, changing the...

Theoretical work has emphasised the potential powerful impact of corporation tax asymmetries on investment behavior. Empirical work has been confined, however, to the essentially descriptive task of measuring implied effective tax rates. This paper uses panel data from 597 UK companies for...

We analyse a puzzle in the UK corporation tax: by both historic and international standards, corporation tax revenues have been high while the statutory rate has been reduced. We consider explanations based on changes in the tax law and in economic factors. Changes in the tax law, such as...

The tax treatment of company dividend payments is an area where corporate taxation interacts with the personal income tax. This interaction raises some awkward issues, such as whether shareholders who are exempt from personal income tax should also be exempt from corporation tax, and if so, then...

Traditional analysis of the taxation of income from capital has focused on the impact of tax on marginal investment decisions; the principal impact of tax on investment is through the cost of capital, and is generally measured by an effective marginal tax rate. In this paper, we consider cases...