Previous literature widely assumes that taxes are optimized in local public finance while expenditures adjust residually. This paper endogenizes the choice of the optimization variable. In particular, it analyzes how federal policy toward local governments influences the way local governments...

Šiame darbe siekiama ištirti paskatų tiesioginėms užsienio investicijoms taikymo ypatumus naujose Europos Sąjungos šalyse – Lietuvoje, Latvijoje, Estijoje, Lenkijoje, Vengrijoje, Slovakijoje, Čekijoje ir Rumunijoje. Darbe atskleidžiami paskatų tiesioginėms užsienio investicijoms...

This paper reviews the major finance-related causes of private under-investment in innovation and the consequent alternative choices for public policy. The focus is on incentive-based arguments that address the problem of limited appropriability of new knowledge, and on the lacking access to...