Tax incidence , majority voting and capital market integration

@inproceedings{Lockwood2004TaxI,
  title={Tax incidence , majority voting and capital market integration},
  author={Ben Lockwood and M. Makris},
  year={2004}
}
We re-examine, from a political economy perspective, the standard view that higher capital mobility results in lower capital taxes — a view, in fact, that is not confirmed by the available empirical evidence. We show that when a small economy is opened to capital mobility, the change of incidence of a tax on capital–from capital owners to owners of the immobile factor–may interact in such a way with political decision-making so as to cause a rise in the equilibrium tax. This can happen whether… CONTINUE READING

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