The international mobility of capital and the geographical dispersion of firms have clear advantages for the growth and modernization of developing countries. They also create fundamental challenges for national tax authorities. Modern principles of capital taxation for the open developing...

This valuable and engaging new book bears eloquent testimony to A.P. Thirlwall’s substantial contribution to economics over the last 40 years. The volume does not attempt to provide a comprehensive review of such a prolific figure, but rather demonstrates the considerable influence that...

This two-volume original reference work provides a comprehensive overview of development economics and comprises contributions by some of the leading scholars working in the field. Authors are drawn from around the world and write on a wide range of topics.

Beginning with an assessment of new thinking in macroeconomics and monetary theory, this book suggests that many countries have adopted the New Consensus Monetary Policy since the early 1990s in an attempt to reduce inflation to low levels. It goes on to illustrate that the explicit control of...

Economically vulnerable countries appear to be prone to armed conflicts which exacerbate poverty and make sustainable economic development difficult. Changes in the world economy seem to have considerable effects on the outbreaks of such conflicts. Valpy FitzGerald looks at the effects of the...

Latin America has the most unequal income distribution of any region in the world, yet its historical causes are poorly understood. This paper reports the first exploratory attempt to compute income distributions for the five leading Latin American economies for the whole 20th century. The...

Home bias arises when the actual portfolio of an investor consists of a smaller proportion of foreign assets than that predicted by standard portfolio theory for the observed set of risks and returns on available assets. The existence and persistence of home bias undermines the theoretical case...

Standard fiscal theory suggests that taxation should be heaviest on the least mobile factors of production -- for both efficiency and revenue reasons. A shift in tax burdens from capital to labour as economies become globally integrated is thus justified. This theoretical tradition (founded by...