Part 1 - AL-Tax
Part 1 - AL-Tax Part 1 - AL-Tax
Table 3.1Capital tax rates and international capital mobility (capital-account openness)Independent Capital-account Capital-account Capital-account Capital-account Capital-account Capital-accountvariables openness openness openness openness openness opennessCapital mobility 1.918** 2.223** 2.159** 1.620* 1.695* 1.729*(0.919) (0.930) (1.045) (0.859) (0.996) (1.013)Capital mobility interacted with:Capital 0.070* 0.069* 0.069** 0.033 0.0425 0.048endowment (0.040) (0.040) (0.033) (0.039) (0.030) (0.040)Consensus 0.484 0.746* 0.691 1.245*** 1.053** 1.121**democracy (0.431) (0.434) (0.472) (0.428) (0.485) (0.534)Corporatism 1.186 2.229 2.008 3.047** 2.578* 2.453(1.339) (1.359) (1.399) (1.318) (1.357) (1.641)Left government 0.370* 0.286 0.304 0.304 0.321 0.331(0.196) (0.195) (0.209) (0.186) (0.196) (0.215)Population 1.7ge-07 9.77e-06** 7.74e-06* 5.79e-07 3.88e-07 0.001(3.49e-06) (3.98e-06) (4.03e-06) (3.30e-06) (3.60e-06) (0.004)European Union 0.204 0.465*** 0.410** 0.520*** 0.440** 0.442***(0.161) (0.170) (0.185) (0.161) (0.176) (0.168)Temporal lag 0.834*** 0.754*** 0.771*** 0.686*** 0.723*** 0.706***(0.034) (0.039) (0.028) (0.043) (0.031) (0.038)Spatial lag 0.280*** 0.221*** 0.0316*** 0.237*** 0.267***(0.066) (0.048) (0.049) (0.035) (0.044)Obs. 465 465 465 465 465 465Estimation Nonspatial OLS Spatial OLS Spatial 2SLS Spatial OLS Spatial 2SLS Spatial MLDiffusion Uniform Uniform Nonuniform Nonuniform Nonuniform63Notes: The regressions were estimated with fixed country effects (coefficients for country dummies not shown).For the OLS estimates, panel-corrected standard errors are given in parentheses.For the 2SLS estimates, robust standard errors clustered by year are given in parentheses.For the ML estimates, robust standard errors are given in parentheses.*** Significant at 1%; ** Significant at 5%; * Significant at 10%.
64Table 3.2Capital tax rates and international capital mobility (financial openness)Independent Financial Financial Financial Financial Financial Financialariables openness openness openness openness openness opennessCapital mobility 0.858*** 0.988*** 0.958** 0.725** 0.758** 0.741**(0.338) (0.342) (0.359) (0.313) (0.345) (0.322)Capital mobility interacted with:Capital endowment 0.029* 0.034** 0.033** 0.024* 0.025** 0.028*(0.015) (0.016) (0.013) (0.014) (0.011) (0.014)Consensus democracy 0.209 0.306* 0.283* 0.422*** 0.369** 0.369**(0.154) (0.157) (0.165) (0.151) (0.161) (0.168)Corporatism 0.534 0.817* 0.751 0.888** 0.799 0.656(0.471) (0.490) (0.603) (0.451) (0.567) (0.612)Left government 0.099* 0.085 0.088 0.089* 0.0916 0.095(0.054) (0.054) (0.057) (0.051) (0.055) (0.059)Population 2.45e-07 2.10e-06* 1.55e-06 2.13e-07 2.21e-07 0.000(1.04e-06) (1.23e-06) (1.11e-06) (9.83e-07) (9.79e-07) (0.001)European Union 0.075* 0.148*** 0.131** 0.156*** 0.136*** 0.131***(0.046) (0.050) (0.050) (0.045) (0.045) (0.044)Temporal lag 0.825*** 0.751*** 0.768*** 0.682*** 0.718*** 0.702***(0.036) (0.040) (0.030) (0.044) (0.031) (0.038)Spatial lag 0.261*** 0.200*** 0.309*** 0.231*** 0.261***(0.066) (0.053) (0.047) (0.036) (0.043)Obs. 465 465 465 465 465 465Estimation Nonspatial OLS Spatial OLS Spatial 2SLS Spatial OLS Spatial 2SLS Spatial MLDiffusion Uniform Uniform Nonuniform Nonuniform NonuniformNotes: The regressions were estimated with fixed country effects (coefficients for country dummies not shown).For the OLS estimates, panel-corrected standard errors are given in parentheses.For the 2SLS estimates, robust standard errors clustered by year are given in parentheses.For the ML estimates, robust standard errors are given in parentheses.*** Significant at 1%; ** Significant at 5%; * Significant at 10%.
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Table 3.1Capital tax rates and international capital mobility (capital-account openness)Independent Capital-account Capital-account Capital-account Capital-account Capital-account Capital-accountvariables openness openness openness openness openness opennessCapital mobility 1.918** 2.223** 2.159** 1.620* 1.695* 1.729*(0.919) (0.930) (1.045) (0.859) (0.996) (1.013)Capital mobility interacted with:Capital 0.070* 0.069* 0.069** 0.033 0.0425 0.048endowment (0.040) (0.040) (0.033) (0.039) (0.030) (0.040)Consensus 0.484 0.746* 0.691 1.245*** 1.053** 1.121**democracy (0.431) (0.434) (0.472) (0.428) (0.485) (0.534)Corporatism 1.186 2.229 2.008 3.047** 2.578* 2.453(1.339) (1.359) (1.399) (1.318) (1.357) (1.641)Left government 0.370* 0.286 0.304 0.304 0.321 0.331(0.196) (0.195) (0.209) (0.186) (0.196) (0.215)Population 1.7ge-07 9.77e-06** 7.74e-06* 5.79e-07 3.88e-07 0.001(3.49e-06) (3.98e-06) (4.03e-06) (3.30e-06) (3.60e-06) (0.004)European Union 0.204 0.465*** 0.410** 0.520*** 0.440** 0.442***(0.161) (0.170) (0.185) (0.161) (0.176) (0.168)Temporal lag 0.834*** 0.754*** 0.771*** 0.686*** 0.723*** 0.706***(0.034) (0.039) (0.028) (0.043) (0.031) (0.038)Spatial lag 0.280*** 0.221*** 0.0316*** 0.237*** 0.267***(0.066) (0.048) (0.049) (0.035) (0.044)Obs. 465 465 465 465 465 465Estimation Nonspatial OLS Spatial OLS Spatial 2SLS Spatial OLS Spatial 2SLS Spatial MLDiffusion Uniform Uniform Nonuniform Nonuniform Nonuniform63Notes: The regressions were estimated with fixed country effects (coefficients for country dummies not shown).For the OLS estimates, panel-corrected standard errors are given in parentheses.For the 2SLS estimates, robust standard errors clustered by year are given in parentheses.For the ML estimates, robust standard errors are given in parentheses.*** Significant at 1%; ** Significant at 5%; * Significant at 10%.
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