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  • 1
    UID:
    almafu_9958098529502883
    Format: 1 online resource (36 pages)
    Series Statement: Policy research working papers.
    Content: June 2000 - The Basel Committee has proposed linking capital asset requirements for banks to the banks' private sector ratings. Doing so would reduce the capital requirements for banks that lend prudently in high-income countries; the same incentives would not apply in developing countries. Using historical data on sovereign and individual borrowers, Ferri, Liu, and Majnoni assess the potential impact on non-high-income countries of linking capital asset requirements for banks to private sector ratings, as the Basel Committee has proposed. They show that linking banks' capital asset requirements to external ratings would have undesirable effects for developing countries. First, ratings of banks and corporations in developing countries are less common, so capital asset requirements would be practically insensitive to improvements in the quality of assets - widening the gap between banks of equal financial strength in higher- and lower-income countries. Second, bank and corporate ratings in developing countries (unlike their counterparts in high-income countries) are strongly linked to the sovereign ratings for the country - and appear to be strongly related (asymmetrically) to changes in the sovereign ratings. A sovereign downgrading would bring greater changes in capital allocations than an upgrading, and would call for larger capital requirements at the very time access to capital markets was more difficult. Under the new guidelines, capital requirements in developing countries would thus be exposed to the cyclical swings associated with the revision of sovereign ratings in recent crises. Ultimately, linking banks' capital asset requirements to private sector ratings would reduce the credit available to non-high-income countries and make it more costly, limiting economic activity. Bank capital needs in developing countries would be more volatile than those in high-income countries. These findings suggest that the Basel Committee should reassess the role it proposes assigning to external ratings, to minimize the detrimental impact of the regulatory use of such ratings on developing countries. This paper - a product of the Financial Sector Strategy and Policy Department - is part of a larger effort in the department to study the impact of financial regulation on economic development. The authors may be contacted at lliu2@worldbank.org or gmajnoni@worldbank.org.
    Language: English
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 2
    Online Resource
    Online Resource
    Washington, D.C. :International Monetary Fund,
    UID:
    almafu_9960916827802883
    Format: 1 online resource (38 pages)
    ISBN: 9798400219795
    Series Statement: IMF Working Papers
    Content: In 2009, the United Kingdom abolished the taxation of profits earned abroad and introduced a territorial tax system. Under the territorial system, firms have strong incentives to shift profits abroad. Using a difference-in-differences research design, we show that the profitability of UK subsidiaries in low-tax countries increased after the reform compared to subsidiaries of non-UK multinationals in the same countries by an average of 2 percentage points. This increase in profit shifting also leads to increases in measured productivity of the foreign affiliates of UK multinationals of between 5 and 9 percent.
    Additional Edition: ISBN 9798400216992
    Language: English
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  • 3
    UID:
    almafu_9959162978102883
    Format: 1 online resource (498 p.)
    ISBN: 9782271129864 , 2271129869
    Content: La révolution néolithique est sans doute l'un des événements majeurs de l'histoire humaine. Indépendamment, dans plusieurs régions du monde, des espèces animales et végétales sont domestiquées, permettant une maîtrise des ressources alimentaires. Il en résulte une explosion démographique sans précédent qui conduit en quelques millénaires à des sociétés inégalitaires et violentes où apparaissent des villes et des États. Cet ouvrage, associant les points de vue d'archéologues, d'anthropologues, de linguistes, de généticiens, d'agronomes, s'interroge sur les causes de cette révolution et en décrit les diverses formes dans les principales régions du monde - Proche-Orient, Afrique, Chine, Amériques, Océanie, Japon - grâce aux acquis les plus récents de la recherche. En résulte une analyse des conséquences sociales, économiques, culturelles, mais aussi écologiques et démographiques de l'invention de l'agriculture et de l'élevage qui est, peut-être, la première grande rupture des équilibres entre l'homme et la nature.
    Note: French
    Additional Edition: ISBN 9782271069146
    Additional Edition: ISBN 2271069149
    Language: French
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  • 4
    Online Resource
    Online Resource
    Cambridge ; : Cambridge University Press,
    UID:
    almafu_9959245777702883
    Format: 1 online resource (xxii, 475 pages) : , digital, PDF file(s).
    Edition: 1st ed.
    ISBN: 1-107-22442-X , 1-139-41936-6 , 1-139-01530-3 , 1-139-42140-9 , 1-139-41731-2 , 1-139-42345-2
    Series Statement: Cambridge world archaeology
    Content: This book explores the roles of agricultural development and advancing social complexity in the processes of state formation in China. Over a period of about 10,000 years, it follows evolutionary trajectories of society from the last Palaeolithic hunting-gathering groups, through Neolithic farming villages and on to the Bronze Age Shang dynasty in the latter half of the second millennium BC. Li Liu and Xingcan Chen demonstrate that sociopolitical evolution was multicentric and shaped by inter-polity factionalism and competition, as well as by the many material technologies introduced from other parts of the world. The book illustrates how ancient Chinese societies were transformed during this period from simple to complex, tribal to urban, and preliterate to literate.
    Note: Title from publisher's bibliographic system (viewed on 05 Oct 2015). , Chinese archaeology : past, present, and future -- Environment and ecology -- Foragers and collectors in the Pleistocene-Holocene transition (24,000-9000 cal. BP) -- Domestication of plants and animals -- Neolithization : sedentism and food production in the early Neolithic (7000-5000 BC) -- Emergence of social inequality : the middle Neolithic (5000-3000 BC) -- Rise and fall of early complex societies : the late Neolithic (3000-2000 BC) -- Formation of early states in the Central Plain : Erlitou and Erligang (1900/1800-1250 BC) -- Bronze cultures of the northern frontiers and beyond during the early second millennium BC -- The late Shang dynasty and its neighbors (1250-1046 BC) -- Chinese civilization in comparative perspective -- Appendix. Horse bones in faunal assemblages from Neolithic and early Bronze Age sites in north China. , English
    Additional Edition: ISBN 0-521-64432-1
    Additional Edition: ISBN 0-521-64310-4
    Language: English
    URL: Volltext  (lizenzpflichtig)
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  • 5
    UID:
    almafu_BV046046522
    Format: xlviii, 560 Seiten
    Original writing title: 近世中國之變與不變
    Original writing publisher: 臺北 : 中央研究院
    ISBN: 978-986-03-9272-2
    Series Statement: Di si jie guo ji han xue hui yi lun wen ji = Papers from the Fourth International Conference on Sinology
    Note: Text überwiegend chinesisch, 1 Beitrag englisch
    Language: Chinese
    Subjects: History
    RVK:
    Keywords: Konferenzschrift ; Konferenzschrift
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  • 6
    Online Resource
    Online Resource
    Washington, D.C. :International Monetary Fund,
    UID:
    almafu_9959310776802883
    Format: 1 online resource (46 pages)
    Edition: 1st ed.
    ISBN: 9781484370537 , 1484370538 , 9781484370599 , 1484370597
    Series Statement: IMF Working Papers
    Content: This paper reviews the rapidly growing empirical literature on international tax avoidance by multinational corporations. It surveys evidence on main channels of corporate tax avoidance including transfer mispricing, international debt shifting, treaty shopping, tax deferral and corporate inversions. Moreover, it performs a meta analysis of the extensive literature that estimates the overall size of profit shifting. We find that the literature suggests that, on average, a 1 percentage-point lower corporate tax rate will expand before-tax income by 1 percent—an effect that is larger than reported as the consensus estimate in previous surveys and tends to be increasing over time. The literature on tax avoidance still has several unresolved puzzles and blind spots that require further research.
    Note: Cover -- Contents -- ABSTRACT -- I. INTRODUCTION -- II. INTERNATIONAL TAX AVOIDANCE-THE ISSUE -- A. Brief Overview of the International Tax Architecture -- B. Main Channels of International Tax Avoidance -- C. How Effective are Anti-Avoidance Regulations? -- III. A NEW CONSENSUS ON TAX-MOTIVATED PROFIT SHIFTING -- A. Data and Descriptive Statistics -- B. Synthesis of Primary Estimates: Meta-Regression -- C. Efficient Estimation -- D. Main Findings -- E. Simulation of Revenue Effects -- IV. DISCUSSIONS AND CONCLUSION -- Tables -- 1. Estimated Semi-Elasticity of Pre-Tax Profits -- 2. Baseline Results -- 3. Robustness Checks -- 4. Evidence on publication bias -- 5. Estimated Revenue Losses -- Figures -- 1. Semi-Elasticity Estimates over Time -- 2. Unconditional Semi-Elasticity Estimates -- 3. Graphical evidence for publication bias -- 4. Country-Specific Estimates of Fiscal Impact -- Appendix -- 1. Descriptive Overview of Included Studies -- 2. Comparison to Heckmeyer and Overesch (2017) -- 3. Estimating Tax-Motivated Profit Shifting: Theoretical Underpinnings -- Appendix Table -- 1. Comparison to HO -- References.
    Additional Edition: ISBN 9781484363997
    Additional Edition: ISBN 148436399X
    Language: English
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  • 7
    Online Resource
    Online Resource
    Washington, D.C. :International Monetary Fund,
    UID:
    almafu_9959310784402883
    Format: 1 online resource (49 pages).
    ISBN: 9781484337707 , 1484337700 , 9781484337721 , 1484337727
    Series Statement: IMF Working Papers
    Content: In 2009, the United Kingdom changed from a worldwide to a territorial tax system, abolishing dividend taxes on foreign repatriation from many low-tax countries. This paper assesses the causal effect of territorial taxation on real investments, using a unique dataset for multinational affiliates in 27 European countries and employing the difference-in-difference approach. It finds that the territorial reform has increased the investment rate of UK multinationals by 15.7 percentage points in low-tax countries. In the absence of any significant investment reduction elsewhere, the findings represent a likely increase in total outbound investment by UK multinationals.
    Additional Edition: ISBN 9781484337493
    Additional Edition: ISBN 1484337492
    Language: English
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  • 8
    Online Resource
    Online Resource
    Washington, D.C. :International Monetary Fund,
    UID:
    almafu_9959240659402883
    Format: 1 online resource (43 pages) : , illustrations, tables.
    ISBN: 9781475591248 , 1475591241 , 9781475591309 , 1475591306
    Series Statement: IMF Working Papers
    Content: With growing academic and policy interest in research and development (R&D) tax incentives, the question about their effectiveness has become ever more relevant. In the absence of an exogenous policy reform, the simultaneous determination of companies’ tax positions and their R&D spending causes an identification problem in evaluating tax incentives. To overcome this identification challenge, we exploit a U.K. policy reform and use the population of corporation tax records that provide precise information on the amount of firm-level R&D expenditure. Using difference-in-differences and other panel regression approaches, we find a positive and significant impact of tax incentives on R&D spending, and an implied user cost elasticity estimate of around -1.6. This translates to more than a pound in additional private R&D for each pound foregone in corporation tax revenue.
    Additional Edition: ISBN 9781475591170
    Additional Edition: ISBN 1475591179
    Language: English
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  • 9
    Online Resource
    Online Resource
    Washington, D.C. :International Monetary Fund,
    UID:
    almafu_9959310749202883
    Format: 1 online resource (79 pages).
    ISBN: 9781513515779 , 1513515772 , 9781513515786 , 1513515780
    Series Statement: IMF Working Papers
    Content: Using administrative tax records for UK businesses, we document both bunching in annual turnover below the VAT registration threshold and persistent voluntary registration by almost half of the firms below the threshold. We develop a conceptual framework that can simultaneously explain these two apparently conflicting facts. The framework also predicts that higher intermediate input shares, lower product-market competition and a lower share of business to consumer (B2C) sales lead to voluntary registration. The predictions are exactly the opposite for bunching. We test the theory using linked VAT and corporation tax records from 2004-2014, finding empirical support for these predictions.
    Additional Edition: ISBN 9781513513812
    Additional Edition: ISBN 1513513818
    Language: English
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  • 10
    Online Resource
    Online Resource
    Washington, D.C. :International Monetary Fund,
    UID:
    almafu_9959310781602883
    Format: 1 online resource (37 pages)
    Edition: 1st ed.
    ISBN: 9781484351475 , 1484351479 , 9781484351536 , 1484351533
    Series Statement: IMF Working Papers
    Content: Unilateral adoption of transfer pricing regulations may have a negative impact on real investment by multinational corporations (MNCs). This paper uses a quasi-experimental research design, exploiting unique panel data on domestic and multinational companies in 27 countries during 2006-2014, to find that MNC affiliates reduce their investment by over 11 percent following the introduction of transfer pricing regulations. There is no significant reduction in total investment by the MNC group, suggesting that these investments are most likely shifted to affiliates in other countries. The impact of transfer pricing regulations corresponds to an increase in the ``TPR-adjusted' corporate tax rate by almost one quarter.
    Note: Cover -- Contents -- I. Introduction -- II. Transfer Pricing Regulation -- III. Theory -- IV. Data -- V. Empirical Speci?cations -- A. Difference-in-Difference -- B. Panel Regression -- VI. Results -- A. Baseline -- B. Robustness -- C. Heterogeneous Responses -- D. TPR-adjusted tax elasticity -- VII. Effect on Total MNC Investment -- VIII. Conclusions -- References.
    Additional Edition: ISBN 9781484347539
    Additional Edition: ISBN 1484347536
    Language: English
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