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Social and Behavioral Sciences Commons™
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- Keyword
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- Foreign Direct Investment (3)
- Latin America (3)
- Spatial Econometrics (3)
- Tax havens (2)
- Economic growth (1)
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- Economics (1)
- Financial development (1)
- Human capital (1)
- Institutions (1)
- Less Developed Countries (1)
- Petroleum export (1)
- Physical capital (1)
- Political stability (1)
- Polluting monopolist (1)
- Resource dependence (1)
- Surplus subsidy schemes (1)
- Tax Competition (1)
- Verifiable regulatory mechanisms (1)
Articles 1 - 6 of 6
Full-Text Articles in Social and Behavioral Sciences
Tax Havens And Fdi Spillovers: Implications For Ldcs, Luisa Blanco, Cynthia Rogers
Tax Havens And Fdi Spillovers: Implications For Ldcs, Luisa Blanco, Cynthia Rogers
School of Public Policy Working Papers
Tax competition and spillover models offer ambiguous predictions concerning the economic impact of tax havens on non-tax havens. The implications of tax havens for less developed countries (LDCs), in particular, are not well understood and are little studied. This paper investigates the impact of tax havens on non-tax haven countries in terms of foreign direct investment (FDI). We investigate the importance of agglomeration effects by accounting for the level of FDI inflows as well as the role of geography by measuring proximity to the nearest tax haven. Our analysis yields several interesting findings. First, using panel data for 142 countries, …
Competition Between Tax Havens: Does Proximity Matter?, Luisa Blanco, Cynthia Rogers
Competition Between Tax Havens: Does Proximity Matter?, Luisa Blanco, Cynthia Rogers
School of Public Policy Working Papers
We study whether proximity to the nearest tax haven affects FDI and the number of American affiliates in a tax haven. Our results show that distance to the nearest tax haven is positively related to FDI inflows and the number of American affiliates in tax havens. These findings suggest that there is a harmful competition between tax havens. We also find evidence of positive spillovers: the number of American affiliates in a tax haven is positively related to the number of in its closest neighboring tax haven. This suggests the presence of agglomeration benefits given there is an affiliate in …
The Finance–Growth Link Revisited And The Role Of Institutions As A Source Of Finance In Latin America, Luisa Blanco
The Finance–Growth Link Revisited And The Role Of Institutions As A Source Of Finance In Latin America, Luisa Blanco
School of Public Policy Working Papers
In a panel framework that includes 18 countries, this paper studies the short and long run effect of financial development on economic growth and the determinants of financial development in Latin America. Financial development shows a positive effect on economic growth in the long run, but a negative effect in the short run for the full sample. When the sample is divided by income levels, this result holds only for the high income group. For the low income group, financial development has no significant effect on economic growth in the short run or in the long run. In the analysis …
Verifiable And Non-Verifiable Anonymous Mechanisms For Regulating A Polluting Monopolist, James Prieger, Nicholas J. Sanders
Verifiable And Non-Verifiable Anonymous Mechanisms For Regulating A Polluting Monopolist, James Prieger, Nicholas J. Sanders
School of Public Policy Working Papers
Optimal regulation of a polluting natural monopolist must correct for both external damages and market power to achieve a social optimum. Existing non-Bayesian regulatory methods require knowledge of the demand function, while Bayesian schemes require knowledge of the underlying cost distribution. We introduce mechanisms adapted to use less information. Our Price-based Subsidy (PS) mechanisms give the firm a transfer that matches or approximates the incremental surplus generated each period. The regulator need not observe the abatement activity or know the demand, cost, or damage functions of the firm. All of the mechanisms induce the firm to price at marginal social …
The (Non) Effect Of Natural Resource Dependence On Capital Accumulation In Latin America, Luisa Blanco, Robin Grier
The (Non) Effect Of Natural Resource Dependence On Capital Accumulation In Latin America, Luisa Blanco, Robin Grier
School of Public Policy Working Papers
In a simultaneous model of human and physical capital accumulation for 17 Latin American countries from 1975 to 2004, we show that overall resource dependence is not significantly related to physical and human capital. Disaggregating the natural resource variable into subcategories, we find that petroleum export dependence is associated with higher physical capital and lower human capital, while agricultural export dependence is often associated with lower levels of physical capital. All of these effects are quantitatively small, however, casting doubt on the idea that natural resource dependence has stifled the accumulation of capital in the region.
The Impact Of Spatial Interdependence On Fdi In Latin America, Luisa Blanco
The Impact Of Spatial Interdependence On Fdi In Latin America, Luisa Blanco
School of Public Policy Working Papers
This analysis considers whether spatial interdependence is an important determinant of foreign direct investment (FDI) in Latin America. Two types of spatial interdependence are explored: 1) surrounding market potential and 2) spatial autocorrelation of FDI. Using a sample of 17 Latin American countries, with observations from 1986 to 2006, we find that spatial interdependence matters for world net FDI in the region. Surrounding market potential has a positive effect on FDI of significant magnitude, but there is no evidence that FDI is spatially autocorrelated. Other contributors to FDI in this analysis include governance, specifically control of corruption, and exports of …