Political Economy - Development: Fiscal & Monetary Policy eJournal最新文献_第5页

Dynamics of Secured and Unsecured Debt over the Business Cycle 商业周期中有担保债务和无担保债务的动态

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2021-02-01 DOI: 10.2139/ssrn.3841430

Paul Luk, Tianxiao Zheng

引用次数: 7

The Effects of Fiscal Decentralization on Publicly Provided Services and Labor Markets 财政分权对公共服务和劳动力市场的影响

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2021-01-22 DOI: 10.2139/ssrn.3407825

Nicola Bianchi, Michela Giorcelli, E. M. Martino

引用次数: 7

Information Asymmetry and the Pricing of Privately Placed Debt 信息不对称与私募债务定价

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2021-01-19 DOI: 10.2139/ssrn.3777161

Kilian Dinkelaker, Andreas Mattig, Stefan Morkoetter

引用次数: 0

Разработка подходов к совершенствованию налогообложения добычи твердых полезных ископаемых (Development of Approaches to Improving Taxation of Solid Minerals Extraction) Разработкаподходовксовершенствованиюналогообложениядобычитвердыхполезныхископаемых(开发的方法来提高税收的固体矿物质提取)

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2021-01-08 DOI: 10.2139/ssrn.3860258

Andrey Korytin, Natalia Kostrykina, Elena Melkova

{"title":"Разработка подходов к совершенствованию налогообложения добычи твердых полезных ископаемых (Development of Approaches to Improving Taxation of Solid Minerals Extraction)","authors":"Andrey Korytin, Natalia Kostrykina, Elena Melkova","doi":"10.2139/ssrn.3860258","DOIUrl":"https://doi.org/10.2139/ssrn.3860258","url":null,"abstract":"Russian Abstract: Налог на добычу полезных ископаемых является главным способом изъятия природной ренты в России. Однако уровень налогообложения в отношении твёрдых полезных ископаемых очень низок и не соответствует их доли в производстве и экспорте сырья. Ввиду этого становится актуальной задача поиска новых подходов к налогообложению твёрдых полезных ископаемых исходя из принципов, принятых в мировой практике. Russian Abstract: Tax on mineral extraction is the main method of collection of the resource rent in Russia. However, the tax level on solid minerals is very low, so it does not correspond to their share in the production as well as the export of raw materials. In connection with that, an investigation of new approaches to the taxation of solid minerals based on the best world practices becomes the burning issue.","PeriodicalId":119398,"journal":{"name":"Political Economy - Development: Fiscal & Monetary Policy eJournal","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121594200","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

ДОЛГОВОЕ И ДОЛЕВОЕ ФИНАНСИРОВАНИЕ КАК ФАКТОРЫ ДОЛГОСРОЧНОГО ЭКОНОМИЧЕСКОГО РОСТА (Debt and Equity Financing as Factors of Long-Term Economic Growth) ДОЛГОВОЕИДОЛЕВОЕФИНАНСИРОВАНИЕКАКФАКТОРЫДОЛГОСРОЧНОГОЭКОНОМИЧЕСКОГОРОСТА(债务和股权融资作为长期经济增长的因素)

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2021-01-06 DOI: 10.2139/ssrn.3860272

Alexey Vedev

引用次数: 0

Tax Policy and Foreign Direct Investment: A Regime Change Analysis. 税收政策与外国直接投资:制度变迁分析。

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2020-12-22 DOI: 10.35609/jfbr.2020.5.3(3)

GATR Journals Submitter, Onome Christopher Edo, Anthony Okafor, Akhigbodemhe Emmanuel Justice

{"title":"Tax Policy and Foreign Direct Investment: A Regime Change Analysis.","authors":"GATR Journals Submitter, Onome Christopher Edo, Anthony Okafor, Akhigbodemhe Emmanuel Justice","doi":"10.35609/jfbr.2020.5.3(3)","DOIUrl":"https://doi.org/10.35609/jfbr.2020.5.3(3)","url":null,"abstract":"Objective – Tax policies play significant role in the direction of foreign direct investments. We investigate the proposition that tax policies enacted by military and democratic regimes differ on the influence the foreign direct investments.\u0000Methodology/Technique – Our hypotheses are tested using the error correction model as we compare the impact of tax policies on flow foreign direct investments in Nigeria between two dispensations: military rule from 1983 to 1999 and democratic rule from 1999 to 2017. Panel data between 1983 and 2017 were obtained from the databases of the World Bank, Central Bank of Nigeria and the Federal Inland Revenue Services. The explanatory variables include company income tax, value added tax, tertiary education tax and customs and exercise duties.\u0000Findings – The study reveals that tax variables during the military regime exerted more explanatory power of 79% compared to the civilian administration of 66% with respect to the impact of corporate taxes on FDI. The effect of company income tax on FDI was more pronounced during the military regime than in the civilian regime. FDI had a higher degree of convergence during the military regime compared to civilian rule, and this is vital for policy assessments and comparison.\u0000Novelty – We bring to light new evidences on the effects of taxes polices on FDI.\u0000Type of Paper: Empirical\u0000Keywords: Corporate taxes; Tax Policies; Foreign Direct Investments; Error Correction Model; Military regime; Civilian regime.\u0000Reference to this paper should be made as follows: Edo, O.C; Okafor, A; Emmanuel, A. (2020). Tax Policy and Foreign Direct Investment: A Regime Change Analysis., J. Fin. Bank. Review, 5 (3): 84 – 98 https://doi.org/10.35609/jfbr.2020.5.3(3)\u0000\u0000JEL Classification: E22, F21, H2, P33.","PeriodicalId":119398,"journal":{"name":"Political Economy - Development: Fiscal & Monetary Policy eJournal","volume":"26 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132692742","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

A Convenient Truth: The Convenience Yield, Low Interest Rates and Implications for Fiscal Policy 便利的真相:便利收益率、低利率及其对财政政策的影响

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2020-12-14 DOI: 10.2139/ssrn.3749167

Dennis Bonam

引用次数: 0

CACs at Work: What Next? cac的工作:下一步是什么?

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2020-12-10 DOI: 10.2139/ssrn.3765825

Andrés de la Cruz, Ignacio Lagos

{"title":"CACs at Work: What Next?","authors":"Andrés de la Cruz, Ignacio Lagos","doi":"10.2139/ssrn.3765825","DOIUrl":"https://doi.org/10.2139/ssrn.3765825","url":null,"abstract":"In 2020, Argentina and Ecuador were the first sovereigns to conduct a debt restructuring using the cross series aggregation feature included in the International Capital Market’s standard Collective Action Clauses (ICMA CACs), published in 2014. The legal strategy of both countries articulated two features: (i) “re-designation” (ie, the possibility for the issuer, with bondholder consent, to re-define the pool of bond series to be considered for aggregation purposes); and (ii) the sequential use of the aggregation methods contemplated in the ICMA CACs (dubbed the “Pac-Man”). The combination of these two features in a sovereign debt workout could hypothetically result in a sovereign relying on a minority of its creditors to ultimately bind and restructure a majority. This new found flexibility initially led the creditor community to demand the eradication of the possibility to re-designate and the complete removal of the innovations introduced by ICMA in 2014 from Argentina’s bond documentation. Ultimately, Argentina and Ecuador persuaded their creditors to permit re-designation, as well as the sequential use of aggregation methods, and proposed adjusting the ICMA CACs by introducing certain limits that would foreclose the possibility for a sovereign to effect a restructuring over all creditors if its original offer failed to attract the support of a meaningful majority. This article describes the terms and processes of the Argentine and Ecuadorian debt workouts and argues that (i) in certain cases, the downside of prohibiting a sovereign from “re-designating” outweighs the benefits of re-designation, as it may turn a restructuring into an “all-or-nothing” game, further complicating inter-creditor dynamics, and (ii) the ability to use different aggregation methods sequentially, within certain limits, also advances the objectives of the ICMA CACs.","PeriodicalId":119398,"journal":{"name":"Political Economy - Development: Fiscal & Monetary Policy eJournal","volume":"98 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127495086","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Asset Price Bubbles with Low Interest Rates: Not All Bubbles are Likely to Emerge 低利率下的资产价格泡沫:并非所有泡沫都可能出现

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2020-12-07 DOI: 10.2139/ssrn.3744344

Jacopo Bonchi, Francesco Simone Lucidi

引用次数: 1

Janet Yellen's Lift Off 耶伦加息

Political Economy - Development: Fiscal & Monetary Policy eJournal Pub Date : 2020-12-03 DOI: 10.2139/ssrn.3742029

G. Selgin

引用次数: 0