This book discusses the latest developments in the China Pilot Free- Trade Zone strategy. It puts forward and explains the idea that building the Shanghai Pilot Free-Trade Zone (SFTZ) is a national test, as it is a major strategic decision to help China cope with the new situation resulting from opening-up and the further implementation of the reform. Based on China's strategic demand in the era of globalization, this book takes into account the global structure of trade, investment and changes in standards, and studies the system of SFTZ. Moreover, based on the national strategy of building international-caliber free-trade zone, it compares the SFTZ with other established free-trade zones and free-port cities. It reveals the overall SFTZ framework and explains in detail aspects of the financial system, investment management, trade supervision, taxation, offshore trade and finance, government system reform, plus the linkage mechanism of building Shanghai as an international economy, finance, trade and shipping center.

This book examines the many ways in which economic concepts, theories and models can be used to examine issues in higher education. The topics explored in the book include how students make college-going decisions, the payoffs to students and society from going to college, markets for higher education services, demand and supply in markets for higher education, why and how state and federal governments intervene in higher education markets, college and university revenues and expenditures, how institutions use net-pricing strategies and non-price product-differentiation strategies to pursue their goals and to compete in higher education markets, as well as issues related to faculty labor markets. The book is written for both economists and non-economists who study higher education issues and provides readers with background information and thorough explanations and illustrations of key economic concepts. In addition to reviewing the contributions economists have made to the study of higher education, it also examines recent research in each of the major topical areas. The book is policy-focused and each chapter analyses how contemporary higher education policies affect the behaviour of students, faculty and/or institutions of higher education. "Toutkoushian and Paulsen attempted a daunting task: to write a book on the economics of higher education for non-economists that is also useful to economists. A book that could be used for reference and as a textbook for higher education classes in economics, finance, and policy. They accomplish this tough balancing act with stunning success in a large volume that will serve as the go-to place for anyone interested in the history and current thinking on the economics of higher education." William E. Becker, Jr., Professor Emeritus of Economics, Indiana University

In this book, a number of long-term energy scenarios are developed for Nigeria considering the impact of vital factors that may influence energy policies in the country's future energy system. The energy scenarios were developed through the Long-Range Energy Alternatives Planning System (LEAP) model. The model identified the future energy demand and supply pattern using a least-cost combination of technology options while limiting the emission of greenhouse gases. The book presents four scenarios, and key parameters considered include GDP, households, population, urbanization and the growth rates of energy-intensive sectors. Further, it highlights the findings of the cost-benefit analysis, which reveal the costs of implementing selected policies and strategies in Nigeria, including those focusing on energy efficiency and fuel/technology switching. The book also discusses the application of the LEAP-OSeMOSYS Model in order to identify lowest-cost power plants for electricity generation. Some sustainable strategies that can ensure a low carbon development in Nigeria are also explored on the basis of successful country cases in relation to the Nigerian LEAP model. As such, the book will help policy makers devise energy and sustainable strategies to achieve low carbon development in Nigeria.

This volume aims to discuss the current research, theory, methodology and applications of macropreudential regulation and policy for the Islamic financial industry. Published in cooperation with the Islamic Research and Training Institute (IRTI), this book features contributions from a workshop presented in collaboration with the University College of Bahrain (UCB) in Manama, Bahrain, aimed to bring together experts in Islamic banking and regulation and financial economics. This resulting book sheds light on how macroprudential policy may be implemented in the Islamic financial system, and indicates current challenges and their effects on economic growth, financial stability and monetary regulation. Macroprudential policy is increasingly seen as a way of dealing with the different dimensions of systemic risk. But many central banks, bank supervisors and regulators have limited experience with macroprudential tools, particularly in the Islamic financial industry. Given the complementarities between monetary policy and financial stability, it appears that central banks would always play an important role in macroprudential policy. But how should macroprudential policy best interact with monetary policy? It is becoming more pressing for the central banks to conduct monetary policy in which its conventional banking system operates side by side with Islamic banking system. This question has received increasing attention in the research literature but there is much we still need to learn. This is why new insights from research on macroprudential policy - which has gained important impetus in recent years - are so valuable. Featuring contributions on topics such as macroprudential regulation, policy, tools and instruments; governance, systematic risk, monetary policy, and bank leverage, the editors provide a collection of comprehensive research covering the most important issues on macroprudential policy and regulation for the Islamic financial industry. This volume is expected to be a significant contribution to the literature in the field of Islamic finance and evaluation of public policies to promote the development for Islamic financial industry. It is also served as a key text for students, academics, researchers, policy-makers in the field of Islamic finance.

This book, dedicated to Prof. Jacques Richard, is about the economic, political, social and even environmental consequences of setting accounting standards, with emphasis on those that are alleged to be precipitated by the adoption and implementation of IFRS. The authors offer their reasoned critiques of the effectiveness of IFRS in promoting genuine global comparability of financial reporting. The editors of this collection have invited authors from 17 countries, so that a great variety of accounting, auditing and regulatory cultures, and educational perspectives, is amply on display in their essays.

This book explores the role of national fiscal policies in a selected group of Euro-area countries under the European Economic and Monetary Union (EMU). In particular, the authors characterize the response of output to fiscal consolidations and expansions in the small Euro-area open economies affected by high public and private debt. It is shown that the macroeconomic outcome of fiscal shocks is strongly related to debt levels. The Euro-area countries included in the investigation are Greece, Ireland, Italy, the Netherlands, Spain, and Portugal, over the sample period 1999-2016, i.e., the EMU period. The main econometric tools used in this research are structural vector autoregressive (VAR) models, including panel VAR models. The available literature relating to the subject is also fully reviewed. A further closely investigated topic is the potential spillover effects of German fiscal policies on the selected small Euro-area economies. Moreover, in the perspective of the evolution of the Euro Area towards a full Monetary and Fiscal Union, the authors study the effects of area-wide government spending shocks on aggregate output and other macroeconomic variables during the EMU period. The closing chapter of the book considers evidence on the consequences of austerity policies for European labour markets during recent years.

This book discusses voting procedures in collective decision-making. Drawing on well-established election processes from all over the world, the author presents a voting procedure that allows for the speedy but fair election of a proportional, all-party coalition. The methodology - a matrix vote - is accurate, robust and ethno-color blind. In the vote, the counting procedure encourages all concerned to cross the gender as well as any party and/or sectarian divides. While in the resulting executive each party will be represented fairly and, at best, with the consensus of parliament, every minister will be the one most suited to his/her new portfolio. By using preferential voting and thus achieving consensus, the matrix vote will be fundamental to the resolution of conflicts. The matrix vote can also be used when: * two or more parliamentary parties elect a coalition government * one parliamentary party elects a government or shadow cabinet, or organizations in civil society elect their governing boards or executive committees * any group chooses a fixed number of individuals to form a team in which each member carries out a different function

This volume sheds new light on economic developments in several countries of Southeast Europe. The European Union and especially the eurozone continue to experience rhythms of fiscal crisis, as can most clearly be seen in the debt crisis in the South Periphery. Despite the fact that several measures and decisions have been taken to deal with the crisis (banking union, liquidity support from the European Central Bank), proposals to reform Europe's strategic policy in order to find a way out of the crisis have been put forward. This book explores the respective roles that specific sectors, e.g. the agricultural sector, social capital, tax policies and labour immigration, can play in this regard. The importance of international economic relations (exports, imports, FDI, exchange rates) is analysed, in order to illustrate the nature of the economic developments and the major economic difficulties these countries face.

This book analyzes the consequences that would arise if Germany's means-tested unemployment benefits were replaced with an unconditional basic income. The basic income scheme introduced is based on a negative income tax and calibrated to be both financially feasible and compatible with current constitutional legislation. Using data from the German Socio-Economic Panel (GSOEP) the author examines the impact of the reform on the household labor supply as well as on both poverty and inequality measures. It is shown that by applying reasonable values for both the basic income and the implied marginal tax rate imposed on earned incomes, efficiency gains can be reconciled with generally accepted value statements. Furthermore, as the proposal includes a universal basic income for families, child poverty could be reduced considerably. The estimates are based on the discrete choice approach to labor supply.

This book investigates the impact of International Monetary Fund (IMF) programmes on macroeconomic instability and economic growth in recipient countries. Employing the New Institutional Economics approach as an analytical framework, it identifies the determinants of economic and political institutional quality by taking into account a broad variety of indicators such as parliamentary forms of government, the aggregate governance level, civil and economic liberties, property rights etc. The book subsequently estimates the impact of these institutional determinants on real economic growth, both directly and also indirectly, through the channel of macroeconomic instability, in recipient countries. Moreover, it illustrates the effectiveness of IMF programmes in the case of Pakistan, a frequent user of IMF resources.

"Advances in Taxation" publishes articles dealing with all aspects of taxation. Articles can address tax policy issues at the federal, state, local, or international level. The series primarily publishes empirical studies that address compliance, computer usage, education, legal, planning, or policy issues. These studies generally involve interdisciplinary research that incorporates theories from accounting, economics, finance, psychology, and sociology.

The Complete, Authoritative Guide to Getting Started in Tax Consulting

Tax consulting and return preparation is a fast-paced, dynamic industry–one that promises high earning potential. In this book, tax advisor Gary Carter shows you just what it takes to become an in-demand tax consultant. You’ll discover how to break into the tax business, even with relatively limited education and training, and build a path to your new career with Carter’s five-step formula for success. Brimming with expert advice from tax professionals and featuring up-to-the-minute coverage of everything from qualifications and employment opportunities to Internet resources, Getting Started in Tax Consulting shows you how to:

• Assess your personality fit for the tax profession
• Formulate your business plan for starting a tax practice
• Find a niche for your tax services
• Choose between a sole proprietorship, a partnership, a C corporation, an S corporation, and a limited liability company
• Set your fees and market your services
• Perform research–an essential skill of the tax professional
• Make the IRS your partner and advisor–not your adversary
• Start a Web-based tax service

The volume discusses the recent developments in selected countries of the Middle East and North Africa. Theoretical chapter presents the internal and external factors influencing the development and democratization processes. Based on these factors the authors analyze in depth the recent development in Egypt, Iraq, Lebanon, Libya, Palestine, Syria, Turkey and Yemen. The authors demonstrate that the recent development in these countries varied significantly, mostly due to the difference of the historical, political, economic, security or religious conditions in the relevant countries.

This study, first published in 1994, examines an important issue, the repeal of the thirty percent withholding tax imposed by the US on interest payments to non-resident alien individuals and foreign corporations, that is emblematic of the US quest for foreign capital in the 1980s. It presents an interdisciplinary and multidisciplinary analytical approach to show how important the access to foreign capital had become on the eve of the US turning into a debtor nation.

The author of the Transfer Pricing Handbook now covers the often complex transfer pricing rules in nations around the globe.

• Reviews and analyzes OECD Guidelines.
• Provides an overview of 27 nation's transfer pricing rules.
• Examines the differences between the United States, OECD Guidelines, and specific countries' transfer pricing rules.
• Written by industry experts from each country.

The 2002 Supplement includes updates to both Transfer Pricing 3e and Transfer Pricing International. It contains:

• Two new chapters on Cost-Sharing Buy-Ins and Technology, Licensing, and Economic Issues in Transfer Pricing
• Complete revisions to chapters on New Zealand, Singapore, Belgium, Czech Republic, Russia, and South Africa. (with updates to Germany chapter)
• New Appendix containing information regarding Practice Note 7

Figuring Out the Tax recounts the forgotten early development of the federal income tax in the US, resulting from the interplay between Congress and the Treasury Department in the decades following the enactment of the tax in 1913. It covers a wide range of topics including the income tax treatments of marriage, capital losses, charitable contributions and homeownership, as well as the rise, demise and resurrection of income tax withholding. Lawrence Zelenak deftly illustrates how the income tax achieved its current form through a range of stories which are new to tax history scholarship and involve some remarkable personalities and surprising plot twists. Although of particular interest to tax academics and professionals, this book will also serve as a useful introduction to the development of income tax for undergraduate students and law students.

This book presents a theoretical framework to explain chronic inflation and hyperinflation. The roots of these two phenomenon are a fiscal monetary regime in which money issues finance the public deficit. Chronic inflation is modeled by using both the old and the new Keynesian model, with a different policy rule. Instead of using the Taylor rule, the central bank policy rule states that money is issued to finance the public deficit. The chronic inflation models take into account the fact that indexation mechanisms adjust prices and wages, yielding the inertial component of inflation. The dynamics of these models can be very unstable under parameter changes or shocks that hit the economy. The previous hyperinflation models surveyed in this book attempt to explain hyperinflation as a bubble phenomenon because they assume a constant real deficit financed by money. The mechanics of hyperinflation models in this book explains hyperinflation by a fiscal crisis, characterized by an increasing fiscal deficit. This fiscal crisis yields an intertemporal budget constraint that is not sustainable. The analysis of the pathology of hyperinflation uses the same tools employed to understand the pathologies of public debt and external debt crises. The hyperinflation model allows a taxonomy of hyperinflations, namely bubble, weak and strong, that can be tested with the inflation tax revenue curve.

This book brings together the work of researchers in Eastern and Western Europe, who analyze competitiveness, social exclusion and sustainability from a range of perspectives. It examines the key challenges faced by the EU in its efforts to establish a socially inclusive and greener path to growth and develops policy recommendations to simultaneously achieve the EU 2020 agenda’s long-term goals and address the current economic crisis in Europe.

This book outlines China's current overseas investment promotion system, analyzing the general situation and the main problems arising during its development. Based on investigations of both the historical and present-day contexts of outbound investment, the book suggests improvements to overseas investment promotion to protect China's enterprises from various aspects of the system including legal, regulatory, fiscal, intellectual property rights and standardization, risk prevention, foreign trade and economic cooperation zones to promote overseas securities investment promotion and social services.

This book deals with foundation law in various European countries. It sums up contributions from the most outstanding experts in foundation law in fourteen countries. These are either civil law or common law, and their socio-economical situation is considerably different. Despite the outstanding differences in each country, foundations have been growing in number and importance all over Europe in the last decades. Political, economical and social changes occurred in various European countries increased foundations' role. The need to focus on foundations' laws and regulations arose in many States for different reasons. The contributions in this book focus in particular on the recent development of foundation law, on the evolution foundations have undergone in recent years and on trends in law.

This volume provides a comprehensive analysis of why taxpayers behave the way they do. It reveals the motivations for why some taxpayers comply with the law while others choose not to comply. Given the current global financial climate there is a need for governments worldwide to increase their revenue collections via improving taxpayer compliance. Research into what shapes and influences taxpayer behavior is critical in that any marginal improvement in understanding and dealing with this behavior can potentially have a dramatic impact upon government revenue. Based on Australian data derived from the data bases of the Australian Taxation Office as an example, this book presents findings that provide lessons for tax systems around the world. Regardless of the type of tax system in place, taxpayers of all nationalities are concerned about how their tax authorities deal with non-compliance and in particular how the tax authorities go about encouraging compliance and ensuring a fair tax system for all. The book presents empirical evidence concerning taxpayer compliance behavior with particular attention being drawn to the moral values of taxpayers, the perceived fairness of the tax system and the deterrent measures undertaken by revenue authorities which influence that behavior. Other issues examined include the degree to which tax penalties operate as an effective deterrent to curbing behavior and how taxpayers' level of general tax knowledge and awareness also impacts upon their actions.