Fiscal competition between governments to attract investment can take the form of business tax rebates, productivity-enhancing public infrastructure, tax holidays, accelerated depreciation allowances or loss carry-forward for income tax purposes. This paper surveys the recent theoretical and...

Many developing countries are unable to provide their industrial sector with reliable electric power and many enterprises have to contend with insufficient and unreliable electricity supply. Because of these constraints, enterprises often opt for self-generation even though it is widely...

Many developing countries are unable to provide their industrial sector with reliable electric power and many enterprises have to contend with insufficient and unreliable electricity supply. Because of these constraints, enterprises often opt for self-generation even though it is widely...

The paper examines the capital structure of regulated infrastructure firms. The authors develop a model showing that leverage, the ratio of liabilities to assets, is lower under high-powered regulation and that firms operating under high-powered regulation make proportionally larger reductions...

We examine the capital structure of regulated infrastructure firms. We develop a model showing that leverage, the ratio of liabilities to assets, is lower under high-powered regulation and that firms operating under high-powered regulation make proportionally larger reductions in leverage when...

The economic recession, the end of stimulus funding and central government cutbacks, rising social costs and aging, and the need for infrastructure upgrading for urbanization are putting enormous fiscal stress on cities. The financing capacity of municipalities is greatly affected because of the...

This paper surveys the main issues and controversies in the economic literature on infrastructure in developing countries. Section I reviews the evidence on the role of infrastructure in promoting economic growth. It is argued that, although infrastructure may be more important for growth than...

ResumenEste artículo examina el impacto sobre la pobreza y el costo fiscal de una pensión mínima universalpara la población anciana en Latinoamerica usando datos de encuesta de hogares en 18 países. La asistencia a la pobreza de la población anciana necesita de una aproximación diferente...

Many developing countries are unable to provide their industrial sector with reliable power and many enterprises have to contend with electricity that is insufficient and of poor quality. Because of these constraints, firms in developing countries opt for self-generation even though it is widely...