Tax incidence, majority voting and capital market integration

被引:19
作者
Lockwood, B [1 ]
Makris, M
机构
[1] Univ Warwick, Dept Econ, Coventry CV4 7AL, W Midlands, England
[2] Univ Warwick, CSGR, Coventry CV4 7AL, W Midlands, England
[3] Univ Exeter, Dept Econ, Exeter EX4 4QJ, Devon, England
[4] Univ Bristol, CMPO, Bristol BS8 1TH, Avon, England
[5] Athens Univ Econ & Business, IEPS, EMOP, Athens, Greece
关键词
capital tax competition; capital market integration; majority voting; tax incidence;
D O I
10.1016/j.jpubeco.2005.06.005
中图分类号
F [经济];
学科分类号
02 ;
摘要
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 or not the immobile factor (labour) can be taxed, and whether or not savings can be subsided under capital mobility. (c) 2005 Published by Elsevier B.V.
引用
收藏
页码:1007 / 1025
页数:19
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