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Tax incidence, majority voting and capital market integration
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Lockwood, Ben and Makris, Miltiadis (2004) Tax incidence, majority voting and capital market integration. Working Paper. Coventry: University of Warwick, Department of Economics. Warwick economic research papers (No.712).
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Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
We re-examine, from a political economy perspective, the standard view that higher capital mobility results in lower capital taxes - a view, in fact, that is not confirmed by the available empirical evidence. We show that when a small economy is opened to capital mobility, the change of incidence of a tax on capital - from capital owners to owners of the immobile factor - may interact in such a way with political decision-making so as to cause a rise in the equilibrium tax. This can happen whether or not the fixed factor (labour) can be taxed.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Subjects: | H Social Sciences > HG Finance | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Capital movements, Taxation -- Econometric models, Capital levy, Equilibrium (Economics) | ||||
Series Name: | Warwick economic research papers | ||||
Publisher: | University of Warwick, Department of Economics | ||||
Place of Publication: | Coventry | ||||
Official Date: | June 2004 | ||||
Dates: |
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Number: | No.712 | ||||
Number of Pages: | 27 | ||||
Institution: | University of Warwick | ||||
Status: | Not Peer Reviewed | ||||
Access rights to Published version: | Open Access (Creative Commons) |
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