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| 1 |
ID:
144415
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| Summary/Abstract |
Khadija Sharife analyzed the public disclosures of nine pharmaceutical companies and found that collectively they have dodged paying about $140 billion in taxes by stashing $405 billion in income in offshore tax havens. Sharife also shows that the alleged cost of obtaining a patent trotted out by Big Pharma is the product of artificial expenses and mispricing. Increasingly, it’s public institutions, which are deprived of funding by pharma’s tax avoidance strategies, that overwhelmingly pay for and develop new medicines.
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| 2 |
ID:
097827
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| 3 |
ID:
122866
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| 4 |
ID:
122858
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| 5 |
ID:
087648
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2009.
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| Summary/Abstract |
China's growing involvement in the global economy and politics brings it considerable benefits. China gets unrestricted access to world markets for goods and services to supply to, to natural resources and fuels, new technologies and modern managerial know-how, and to international organizations that adopt decisions critical to China's development. All these benefits are acquired at the cost of the country's rising dependence on worldwide developments, market ups and downs, and even worldwide cataclysms.1 The current global financial and economic crisis shows this beyond a shadow of doubt. Accordingly, debates are erupting now and then in China about the balance of gain and loss; about the best way to use the advantages of being involved in globalization and to avoid its most destructive consequences; and also about what is needed to maintain the country's economic and political sovereignty and security without fencing itself off from the rest of the world, but instead take the position of a responsible participant and agent of world history.
Crises in the free-market economy that China is determined to build are certainly unavoidable. The key issue is then to realize that the market, the principal advantages of which are higher competitiveness of enterprises, the state itself, and individuals, cannot correct its inevitable deficiencies all by itself. While promoting a free-market economy, therefore, China is seeking to keep very power-
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| 6 |
ID:
150823
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| Summary/Abstract |
The energy-efficiency gap has been high on research and policy agendas for several decades. Incentive schemes such as subsidies, taxes and bonus-malus schemes are widely used to promote energy-efficient appliances. Most research, however, considers instruments in isolation, and only rarely in the context of political constraints on instrument use, or for alternative policy goals. This paper presents a methodology for the optimal design of incentive schemes based on the minimisation of Dead Weight Loss for different policy goals and policy restrictions. The use of the methodology is illustrated by designing optimal combinations of taxes and subsidies in Spain for three types of appliance: dishwashers, refrigerators and washing machines. The optimal policies are designed subject to different policy goals such as achieving a fixed reduction in emissions or a certain increased market share for efficient appliances, and for policy constraints such as budget neutrality. The methodology developed here can also be used to evaluate past and current incentive schemes.
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| 7 |
ID:
100275
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2010.
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While sociologists and political scientists have become interested in the role of ideas in the political process, relatively little work looks at how ideological claims are actually deployed in political discourse. This article examines the economic claims made in two pairs of Congressional debates over tax cuts, one (in 1962 and 1964) generally associated with Keynesian economic theories, and one (in 1978 and 1981) tied to supply-side ideas. While these bills were indeed initiated by groups subscribing to different economic ideologies, subsequent debates look surprisingly similar. The bills were closer in substance than one might expect, and while their proponents came from opposite political camps, in both cases supporters focused more on supply-side than demand-side effects and emphasized tax cuts' ability to pay for themselves through economic stimulation. The authors propose that politically acceptable economic claims may evolve more slowly than the economic theories that inspire policy entrepreneurs, and that this "discursive opportunity structure" may not only constrain the political process but may potentially shape the political effects of expert knowledge.
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| 8 |
ID:
125661
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2013.
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| Summary/Abstract |
This paper argues that the underlying supply and demand analysis of fossil energy and other environmental taxes needs further elaboration when a country (a) introduces national fossil energy or environmental taxes and (b) is open to international trade at given world prices. We provide evidence that such conditions are plausible for many sectors in the UK. A key implication is that the short run effects of such taxes should not be felt in final good prices, since these are determined in world markets, but in terms of underlying profitability. These changes in underlying profits provide two key incentives for producers-to change to more environmentally friendly production techniques and to switch resources to production of less environmentally harmful goods. Using input-output techniques we provide evidence for the UK to show how existing fossil energy and other "green" taxes have affected underlying profitability. The evidence shows quite strong profit incentives to shift resources from a small number of energy intensive industries to others.
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| 9 |
ID:
070218
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| 10 |
ID:
191906
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What is the level of state capacity in developing countries today, and what have been its drivers over the past century? We construct a comprehensive new data set of tax and revenue collection for forty-six African polities from 1900 to 2015. Our data show that polities in Africa have been characterized by strong growth in fiscal capacity on average, but that substantial heterogeneity exists. The empirical analysis reveals that canonical state-building factors such as democratic institutions and interstate warfare have limited power to explain these divergent growth paths. On the other hand, accounting for the relationship between African polities and the international environment—through the availability of external finance and the legacy of colonialism—is key to understanding their differing investments in fiscal capacity. These insights add important nuances to established theories of state building. Not only can the availability of external finance deter investment in fiscal capacity, but it also moderates the efficacy of canonical state-building factors.
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| 11 |
ID:
096155
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2010.
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| Summary/Abstract |
The Republic of Korea was one of the major victims of the Asian Financial Crisis of 1997-98, but it recovered its economic dynamism quite quickly. In the short term, its budgetary response to near economic collapse was immediate and quite significant. The government increased spending and, once the peak of the crisis was over, taxes and expanded its previously very limited support of needy Koreans by substantially increasing funds for social development and for aiding local government. Thus, despite its being forced to accept a large International Monetary Fund (IMF) loan in late 1997, Korea clearly rejected the IMF model of fiscal austerity and governmental downsizing, giving a much higher priority to the welfare of its citizens. However, this short-term response to the devastating fallout from the crisis seems to have exacerbated several long-term challenges facing Korea. The liberal fiscal policy clearly contributed to the country's burgeoning debt problem, and there have been only limited attempts to improve the problems associated with public funds and special accounts. Unfortunately, political inertia makes a serious response to these long-term challenges unlikely in the near future.
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| 12 |
ID:
155555
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| Summary/Abstract |
World Policy Institute fellow Khadija Sharife investigates the tax avoidance strategies of one of the world’s biggest lottery corporations. While the company, GTech (now known as IGT), profits off the poor, it has shielded hundreds of millions in revenue from the tax man by “inverting” its headquarters overseas and relying on tax havens.
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| 13 |
ID:
122854
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| 14 |
ID:
121020
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| 15 |
ID:
148507
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| Summary/Abstract |
There are several approaches to assessing the sustainability of a country’s public finances. Ricardian equivalence is one such approach, in which fiscal sustainability is defined in terms of the neutrality of generational welfare through government fiscal policy. The present work is an attempt to discuss and analyse fiscal sustainability in India in the context of Ricardian equivalence. Different forms of empirically testable equations for testing Ricardian equivalence are derived based on studies by Buiter and Tobin (1978), Kormendi (1983) and Kormendi and Meguire (1990). A key aspect of fiscal sustainability is to ensure generational equity as reflected in India’s Fiscal Responsibility and Budget Management (FRBM) Act, 2003. Based on availability of data, empirical evidence is against the presence of Ricardian equivalence, indicating that the fiscal policy India pursued during the study period (1974–2011) has been detrimental to generational welfare neutrality.
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| 16 |
ID:
135073
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| Summary/Abstract |
Despite having the highest level of public debt in the Organisation for Economic Co-operation and Development (OECD), higher than Greece or Italy, Japan has one of the lowest aggregate tax burdens of the advanced industrial democracies. This paper asks why Japan, once described as a strong developmental state, has had such a weak extractive capacity, an inability to raise revenues to confront deficits and public debt? In contrast to the existing explanations that focus on political institutions, partisan preferences, or economic globalization, this article argues that Japan's ‘tax–welfare mix’ – the combination of taxes and redistributive welfare polices – undermined the state's long-term capacity to secure adequate tax revenue. More than just a source of revenue, taxes can be used directly to achieve redistributive goals, such as targeting low taxes and exemptions to specific groups. This study shows how Japan's tax–welfare mix diminished its extractive capacity through three mechanisms: the political lock-in of a redistributive social bargain struck around low taxes, the timing and sequencing of its tax policy and welfare development, and the erosion of public trust, which undermined tax consent. Beyond offering a new theory of extractive capacity, the tax–welfare mix explains aspects of Japan's tax structure that defy existing explanations and contributes to our understanding of the capitalist development state by highlighting the redistributive political function of tax policy and its long-term impact on state capacity.
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