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Liberalization Of The International Capital Markets: Effects On Taxation Cost Of Public Funds And Income Redistribution

Author

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  • RAZIN, A.
  • SADKA, E.

Abstract

International-capital market integration has become a key policy issue in the prospective integration of Europe of 1992. In this context this paper provides a theoretical analysis of the effects of relaxing restrictions on the international flow of capital on the fiscal branch of government: the optimal provision of public goods, the structure of taxation and income redistribution policies. The major findings are: (a) income from investment abroad should be taxed at the same rate as income from domestic sources; (b) the cost of public funds falls and the supply of public goods rises if restrictions on international capital flows are relaxed; and (c) the amount of income redistributions, specifically the value of the demogrant, increases with the international-capital market liberalization.
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Suggested Citation

  • Razin, A. & Sadka, E., 1988. "Liberalization Of The International Capital Markets: Effects On Taxation Cost Of Public Funds And Income Redistribution," Papers 32-88, Tel Aviv.
    • Handle: RePEc:fth:teavfo:32-88
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