search query: @indexterm INTERNATIONAL TAXATION / total: 22
reference: 18 / 22
| Author: | Razin, A. Sadka, E. Yuen, C-W. |
| Title: | A pecking order of capital inflows and international tax principles |
| Journal: | Journal of International Economics
1998 : FEB, VOL. 44:1, p. 45-68 |
| Index terms: | PORTFOLIO INVESTMENT EQUITY CAPITAL FOREIGN INVESTMENT ASYMMETRIC INFORMATION INTERNATIONAL TAXATION |
| Language: | eng |
| Abstract: | Even though financial markets today show a high degree of integration, the world-wide capital market is still far away from the textbook story of high capital mobility. The purpose of the paper is to highlight key sources of market failure in the context of international capital flows and to provide guidelines for efficient tax structure in the presence of capital market imperfections. The analysis distinguishes three types of international capital flows: 1. foreign portfolio debt investment, 2. foreign portfolio equity investment and 3. foreign direct investment. The paper emphasizes the efficiency of a non-uniform tax treatment of the various vehicles of international capital flows. |
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