Suchergebnisse

The tax reform movement that swept the U.S., Great Britain, and most other industrialized nations during the last decade has focused attention on international comparisons of the cost of capital. More recently, international comparability has become a critical issue of tax harmonization. This is a vital concern in the European Community, as well as between Canada and the United States. This volume provides international comparisons of the cost of different types of capital for nine major industrialized countries--Australia, Canada, France, Germany, Italy, Japan, Sweden, the United Kingdom, and the United States--for the period 1980-1990. In the early 1980s the introduction of tax incentives for saving and investment gradually shifted the tax base from income toward consumption. By 1990 most of these special tax provisions had been reduced or repealed in order to lower tax rates and equalize the tax treatment of different forms of capital income. Income was firmly reestablished as the most appropriate basis for taxation. Separate chapters for each of the nine countries, written by leading experts in public economics, provide detailed accounts of tax policy changes over the decade. Each chapter contains a quantitative description of these tax policies and summarizes this information in the form of effective tax rates. The book thus serves as an indispensable reference for comparing capital income taxation in industrialized countries during a period of rapid policy change.

Technology & Economics -- Copyright -- Contents -- Foreword -- Ralph Landau: Engineer, Entrepreneur, Scholar -- How Competitiveness Can Be Achieved: Fostering Economic Growth and Productivity -- THE ROLE OF TECHNOLOGICAL CHANGE IN GROWTH -- GROWTH IN THE UNITED STATES VERSUS JAPAN -- THE JORGENSON ANALYSIS OF THE SOURCES OF ECONOMIC GROWTH -- RECENT NEW RESEARCH IN GROWTH ECONOMICS OF INDUSTRIAL COUNTRIES -- THE LEGAL CLIMATE -- PHYSICAL CAPITAL FORMATION -- R&D AND EDUCATION -- MICROECONOMIC CONSIDERATIONS -- WHAT SHOULD BE THE NATIONAL GOAL -- HOW GROWTH RATES CAN BE INCREASED TO MEET THE NATIONAL GOAL -- CONCLUSION -- NOTES -- REFERENCES -- Capital Formation and Economic Growth -- TESTING OF HYPOTHESES -- ACCOUNTING FOR GROWTH -- CONCLUDING REMARKS -- ACKNOWLEDGMENT -- NOTES -- REFERENCES -- Investing in Productivity Growth -- REFERENCES -- Technology and the Cost of Equity Capital -- THE COST OF CAPITAL -- THE COST OF EQUITY -- CORPORATE HORIZONS AND THE COST OF CAPITAL -- INTERNATIONAL COMPARISONS -- POLICIES THAT REDUCE THE COST OF EQUITY -- CONCLUSIONS -- NOTES -- REFERENCES -- Science and Its Applications: How To Succeed -- THE RESEARCH ENTERPRISE -- EXPLOIT LUCK THROUGH OBSERVATION -- OPTIMIZE CHAOS -- PERSEVERE -- THINK FUNDAMENTALLY -- MOONLIGHT -- BE ARROGANT -- A SEVENTH KEY TO SUCCESS IN SCIENCE AND TECHNOLOGY -- REFERENCES -- Challenges to Agricultural Research in the Twenty-First Century -- TECHNOLOGY, INSTITUTIONS, AND THE ENVIRONMENT -- STRESS ON THE AGRICULTURAL RESEARCH SYSTEM -- BIOLOGICAL AND TECHNICAL CONSTRAINTS -- RESOURCE AND ENVIRONMENTAL CONSTRAINTS -- PERSPECTIVE -- BIBLIOGRAPHY -- INNOVATION IN THE CHEMICAL PROCESSING INDUSTRIES -- NOTES -- List of Symposium Participants.