This paper examines the effects of the Tax Reform Act of 1986 on the international location decisions of U.S. financial services firms. The Act included rule changes that made it substantially more difficult for U.S. firms to defer U.S. taxes on overseas financial services income held in low-tax...

The tax deductibility of interest payments in most corporate income tax systems coupled with no such measure for equity financing creates economic distortions and exacerbates leverage. This paper discusses the consequences of this debt bias and the possible remedies.

The influence of VAT applied to financial services on the size of the financial sector is analyzed empirically. The authors use data from 36 European Union and OECD countries for the period from 1961 to 2012. Dynamic panel data techniques are used, concretely the GMM System. An unbalanced panel...

Investment in infrastructure for increasing trade and connectivity in South Asia and Southeast Asia has been impacted by a reduction in commercial bank participation in project financing, which has significantly increased the role of multilateral financial institutions and export credit...

The financial crisis that erupted in 2007 highlighted how important trust is for the global system and how fragile it can be. The 2016 Bangladesh central bank cyber incident exposed a new threat to financial stability and the unprecedented scale of the risk that malicious cyber actors pose to...

Investment in infrastructure for increasing trade and connectivity in South Asia and Southeast Asia has been impacted by a reduction in commercial bank participation in project financing, which has significantly increased the role of multilateral financial institutions and export credit...

This paper provides Russia's financial system strategy with special emphasis on financial markets and investments in innovative growth. The post-crisis strategy in financial markets contains instruments on financial architecture modernization, proposals on domestic financial crisis monitoring...