This study aims to quantify the impact of the global minimum corporate tax rate – a pillar of the OECD's reform of international taxation – on cross-border mergers and acquisitions (M&A) involving large multinational enterprises (MNEs). First, the influence of differences in capital taxation...

Using various statistical procedures, estimates about the size of the shadow economy in 110 developing, transition and OECD countries are presented. The average size of the shadow economy (in percent of official GDP) over 1999-2000 in developing countries is 41%, in transition countries 38% and...

Using the currency demand and DYMIMIC approaches estimates are presented about the size of the shadow economy in 22 Transition and 21 OECD countries. Over 2001/2002 in 21 OECD countries is the average size of the shadow economy (in percent of official GDP) 16.7% of ?official? GDP and of 22...

Starting from Professor Kornai´s assertion about the necessity to focus on the long-termperspectives of the transformation process, we analyze in this paper the Lisbon performanceof the countries of the European Union from such a long-term, structural perspective. Wepresent in a simple form the...

China's remarkable run of persistently high growth in recent decades is all the more stunning in light of the country's low levels of financial and institutional development, state-dominated economy, and nondemocratic government. Notwithstanding the inefficient and risky growth model, the...

The migration of skilled individuals from developing countries has typically been considered to be costly for the sending country, due to lost investments in education, high fiscal costs and labour market distortions. Economic theory, however, raises the possibility of a beneficial brain drain...

The international labour market has not been ?globalised? to the same degree over the last 40 years as have international markets for goods and capital. Immigration policies in developed economies clearly hinder the mobility of labour. But how much difference does it actually make? This paper...

This paper analyzes some of the implications of North American labor market integration for fiscal policy. The economies of Canada and the US are both characterized by highly integrated internal markets for goods and services as well as for labor and capital, and subnational governments in both...

Work of low-skilled migrant workers from developing countries in developed economies is a growing phenomenon and a key political and economic issue. An extensive literature has found (for the most part) that these workers come from the lower part of the skill distribution. This paper revisits...

One issue the literature neglects is how outsourcing stimulates trade (imports, exports and foreign direct investment), thereby affecting political relations. However, at least as far back as 1750, economic philosophers such as Baron de Montesquieu in his L?Esprit des Lois, argued, ?peace is the...