テクニカルレポート

ディスカッション／ワーキング・ペーパー

text

Discussion Papers In Economics And Business. 2012, 12-05

Capital mobility-a resource curse or blessing? How, when, for whom?

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

text

2012-03

http://www2.econ.osaka-u.ac.jp/library/global/dp/1205.pdf

This paper investigates which of the two countries —resource-rich or resourcepoor—gains from capital market integration and capital tax competition. We developa framework involving vertical linkages via resource-based inputs as well asinternational fiscal linkages between resource-rich and resource-poor countries. Ouranalysis shows that capital market integration causes capital flows from resourcepoorcountries to resource-rich countries and thus improves production efficiencyand global welfare. However, such gains accrue only to resource-poor countries,and capital mobility might even hurt resource-rich countries. In response to capitalflows, the governments of both resource-rich and resource-poor countries have anincentive to tax capital. Such taxations would enable resource-rich countries to exploittheir efficiency gains through capital market integration and become winnersin the tax game.

13783

Capital mobility-a resource curse or blessing? How, when, for whom?

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

2012-03

Discussion Papers In Economics And Business

12-05

https://hdl.handle.net/11094/13783

http://www2.econ.osaka-u.ac.jp/library/global/dp/1205.pdf