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Cover -- Half Title -- Title Page -- Copyright Page -- Table of Contents -- Acknowledgments -- Preface -- Tables -- Charts -- ABBREVIATIONS -- I. Introduction -- A: PURPOSE AND METHODOLOGY OF THE RESEARCH -- 1. The Repeal and Policy Analysis -- 2. Relationship to Political Science and International Political Economy -- 3. The Eurocurrency and Eurobond Markets: Basic Terminology -- B: GENERAL BACKGROUND ON THE EUROBOND MARKET -- 1. Origins -- 2. The Eurobond Market and the International Finance Subsidiaries: General Features -- 3. U.S. Companies' Use of the Eurobond Market -- II. Initiation: the Road to the Hearing -- A: PROBLEM RECOGNITION -- 1. Taxes and the Eurobond Market -- 2. The Repeal of the Withholding Tax -- 3. The U.S.-Netherlands Antilles Tax Treaty: The Investor's Use of the Treaty -- 4. The Borrower's Use of the Treaty -- 5. The Internal Revenue Service Position -- 6. Exceptions to the Thirty Percent Tax on Interest Other Than Those Originating from Tax Treaty -- 7. Tax Treaty Exemptions -- B. GENERATION OF ALTERNATIVES -- 1. Proposals Previous to the 98th Congress -- 2. Proposals Considered by the 98th Congress -- 3. The Proposals Before Congress on April 11, 1984 -- 4. Congress's Options -- III. Estimation: Congress Looks at the Alternatives -- A. THE MAY 1984 HEARING: AN ANALYTICAL SUMMARY -- 1. The Government Witnesses -- 2. Transnational Interest Groups -- 3. Domestic Interest Groups -- 4. Summing Up the Main Interest Groups' Position -- 5. The Differences between the 1984 and the 1976 Hearings -- IV. Selection: Congress Approves the Repeal -- A. THE REPEAL OF THE THIRTY PERCENT TAX ON INTEREST PAID TO FOREIGNERS -- 1. Scope of the Legislation -- 2. The Repeal and the Secretary -- V. Implementation: The Complex World of Treasury Regulations -- A. TREASURY REGULATIONS: COMPLIANCE AND TAX EVASION -- B. BEARER DEBT: SEC REGULATIONS

The issue of the British exit from the European Union, henceforth referred to herein as Brexit, is truly important. This paper is rooted in the belief that Brexit's consequences, no matter which legislative, regulatory, and policy paths will be chosen, are truly long-term. And they are also broader than originally thought in terms of overall influence on other countries' domestic and international political and economic thinking and actions. In this paper, we shall identify events, factors, analytical frameworks, and opinions which have played, play, and probably will play a key role in understanding Brexit and its impact. Clearly the highlighted factors and views reflect subjective choices made by the author after looking at a literature that is extremely vast and diversified and characterized by very contrasting underlying national and world views. While the issues considered here are very complex, throughout this paper there has been an emphasis on conciseness and, hopefully, clarity.

The world economy is more complex than it has ever been. This paper looks at some frameworks used for description, analysis, and prediction in the three areas of economic growth, equality, and development, while also highlighting some important past and current trends. The selection of frameworks and trends represents clearly a necessarily brief and subjective choice of the author on the basis of his perception of their "usefulness" for purposes of public and private decision-making. The paper starts by discussing how economic growth is impacting the classification of the economies of the world. It then looks at how countries' economies can be viewed in terms of ease of doing business, of adaptability to openness and change, and of types of capitalism adopted. In the second section, issues of economic inequality within and between the countries of the world and their citizens are examined. In the third section, the paper looks at development. It starts by briefly discussing the merits of going beyond GDP and of looking at the Human Development Index (HDI) in order to try to measure other forms of progress, such as in health and education. The paper then traces the evolution of development economics and the advice given to policy makers in developing countries, and also examines the role of institutions in development and the controversies surrounding foreign aid. It concludes by looking briefly at additional dimensions of human development such as empowerment and sustainability. The picture that emerges is one of a world in which decision-makers have to make use in a combined way of a plurality of disciplines to understand the realities confronting them and to design and implement good policies. In so doing, they have to confront the challenges of appropriate sequencing, must very often choose second-best options, and have to make clever use of the lessons learned from countries with very different geographical, political, economic, social, legal, technological, and cultural environments and constraints.