Puerto Rico operated as a tax haven under U.S. Internal Revenue Code (IRC) Section 936. Firms in the pharmaceutical industry accounted for approximately 50% of tax credits awarded and 20% of employment under the program. The U.S. Congress eliminated the tax exemption program in 2006, creating a...

It is widely believed that the trend of flattening the government hierarchy is considered to be an important reason why China has experienced high growth rates. This paper investigates how different administrative hierarchies of cities, including prefectural cities and directly-administrative...