Implications of the Home Bias: A Pecking Order of Capital Inflows and Corrective Taxation
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.
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|Date of creation:||1997|
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