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Capital mobility ? a resource curse or blessing? How, when, for whom?
| Content Provider | Semantic Scholar |
|---|---|
| Author | Ogawa, Hikaru Oshiro, Jun Sato, Yasuhiro |
| Copyright Year | 2012 |
| Abstract | This paper investigates which of the two countries \resource-rich or resourcepoor \ gains from capital market integration and capital tax competition. We develop a framework involving vertical linkages via resource-based inputs as well as international fiscal linkages between resource-rich and resource-poor countries. Our analysis shows that capital market integration causes capital flows from resourcepoor countries to resource-rich countries and thus improves production efficiency and global welfare. However, such gains accrue only to resource-poor countries, and capital mobility might even hurt resource-rich countries. In response to capital flows, the governments of both resource-rich and resource-poor countries have an incentive to tax capital. Such taxations would enable resource-rich countries to exploit their efficiency gains through capital market integration and become winners in the tax game. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://www.rieti.go.jp/jp/publications/dp/12e063.pdf |
| Alternate Webpage(s) | http://www.rieti.go.jp/jp/publications/dp/12e063.pdf |
| Alternate Webpage(s) | http://observgo.uquebec.ca/observgo/fichiers/42245_GRF1.pdf |
| Alternate Webpage(s) | http://www2.econ.osaka-u.ac.jp/library/global/dp/1205.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
