This paper explores how government preferences affect the choices of capital tax rates in the presence of tax competition. We develop a model in which governments, differentiating in their preferences for economic development and regional equality, compete for mobile capital over corporation taxes. The key prediction of the model, borne out in data from OECD countries over the years 1990-2007, ...

hisba is a regulatory regime in islamic law which could be a base for islamic economic regulation but has been neglected for centuries. the protection of integrity of the market and competition is a prominent economic and legal objective in modern economies. however, the focus in the islamic law has been on the bipolar relations among the individuals in the form of law of contract or law of tor...

This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. As in other sectors, competition in finance matters for alloc...