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Implications of the Home Bias: A Pecking Order of Capital Inflows and Corrective Taxation

Author

Listed:
  • Razin, A.
  • Sadka, E.
  • Yuen, C.W.

Abstract

Even Though financial markets today show a high degree of integration, the world capital market is stil far from the textbook story of high capital mobility. The purpose of this paper is to highlight key sources of market failure in the context of international capital flows and to provide guideline for efficient tax structure in the presence of capital market imperfections.

Suggested Citation

  • Razin, A. & Sadka, E. & Yuen, C.W., 1997. "Implications of the Home Bias: A Pecking Order of Capital Inflows and Corrective Taxation," Papers 32-97, Tel Aviv.
  • Handle: RePEc:fth:teavfo:32-97
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    Citations

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    Cited by:

    1. Assaf Razin & Efraim Sadka & Chi-Wa Yuen, 1999. "An Information-Based Model of Foreign Direct Investment: The Gains from Trade Revisited," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 6(4), pages 579-596, November.
    2. Torben Dall Schmidt, 2001. "Direct Investment, Economic Integration and the Welfare State: The Case of European Integration," ERSA conference papers ersa01p61, European Regional Science Association.
    3. Assaf Razin & Efraim Sadka & Chi-Wa Yuen, 1999. "Excessive FDI flows under asymmetric information," Proceedings, Federal Reserve Bank of San Francisco, issue Sep.
    4. Razin, Assaf & Sadka, Efraim, 2003. "Gains from FDI inflows with incomplete information," Economics Letters, Elsevier, vol. 78(1), pages 71-77, January.
    5. Dellas, Harris & Hess, Martin K, 2002. "Financial Development and the Sensitivity of Stock Markets to External Influences," Review of International Economics, Wiley Blackwell, vol. 10(3), pages 525-538, August.

    More about this item

    Keywords

    FOREIGN INVESTMENTS ; INFORMATION;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F35 - International Economics - - International Finance - - - Foreign Aid
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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