Assistant Professor of Finance at the ESSEC-Business School, currently on leave from the World Bank Development Research Group (DECRG). Pierre also works as a Senior Economist at the EU Tax Observatory. His research interests are in Public Finance, Financial Inclusion and Development Economics.
" Globalization and Factor Income Taxation" With Matt Fischer-Post, Anders Jensen, Gabriel Zucman
This paper builds and analyzes a new global macro-historical database of effective tax rates on labor and capital in 155 countries. Effective capital tax rates fell in developed countries between 1965 and 2018, but rose in developing countries since the mid-1990s. Event-studies and instrumental variable regressions show that a significant share of the rise in developing countries can be explained by trade openness, which increases the share of output produced in large corporations, where effective capital taxation is higher. In contrast to a commonly held view, globalization appears in many countries to have supported governments’ ability to tax capital.
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