The author highlights the historical evolution, outcomes and implications of some of Japan’s most important investments in the energy sectors of resource-rich countries in the Middle East.
This working paper is part of a series titled “The Role of Foreign Direct Investment in Resource-Rich Regions.”
The authors construct a tax competition model in which local governments finance business public services with either a source-based tax on mobile capital, such as a property tax, or a tax on production, such as an origin-based value added tax, and then assess which of the two tax instruments is more efficient.
This working paper is one of a series submitted for the Oct. 1, 2015, Baker Institute event "Currency Policy Then and Now: 30th Anniversary of the Plaza Accord."