TY - JOUR
T1 - Optimal trade taxes in the presence of foreign ownership and equity exchanges
AU - Takemori, Shumpei
AU - Tsumagari, Masatoshi
N1 - Funding Information:
Minato-ku, 108 Tokyo, Japan. *We are grateful to Peter Petri for providing insights into our results. We also thank Eric Bond, Fumio Dei, Ron Jones, and Michihiro Ohyama for helpful comments. We are also grateful to the two anonymous referees for pointing out serious mistakes in an earlier draft and for their suggestions with regard to the organization of the paper. Naturally all errors are ours. The present study has benefited from the financial assistance of the Nomura Investment Trust Memorial Fund.
Copyright:
Copyright 2014 Elsevier B.V., All rights reserved.
PY - 1994/5
Y1 - 1994/5
N2 - This paper investigates the question of the optimal trade policies in the presence of foreign ownership, extending the framework of the pioneering studies by Brecher and Bhagwati. Trade in the ownership claims is explicitly modelled using a stochastic trade model. The paper concludes that the results of the above studies crucially depend on the policy not being expected at the time foreign investment takes place.
AB - This paper investigates the question of the optimal trade policies in the presence of foreign ownership, extending the framework of the pioneering studies by Brecher and Bhagwati. Trade in the ownership claims is explicitly modelled using a stochastic trade model. The paper concludes that the results of the above studies crucially depend on the policy not being expected at the time foreign investment takes place.
KW - Foreign ownership
KW - Optimal trade policy
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U2 - 10.1016/0022-1996(94)90015-9
DO - 10.1016/0022-1996(94)90015-9
M3 - Article
AN - SCOPUS:43949147908
SN - 0022-1996
VL - 36
SP - 483
EP - 500
JO - Journal of International Economics
JF - Journal of International Economics
IS - 3-4
ER -