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This article offers a Marxian interpretation of international taxation in the context of a global structure of capitalism that has evolved toward a core/periphery division, driven by the process of accumulation of capital and a moving away from the rate of profit's tendency to fall. Taxation played an active role in this, deploying its functions of money regulator and enabling the realization of surplus value and the accumulation of capital. International taxation projects such functions onto the global capitalist system, aligning tax revenue with the holding of money. The analysis of taxation tendencies focuses on OECD proposals and OECD countries. Although improbable given the functions of taxation within capitalism, I propose certain tax reforms as an alternative to the current structure and tendencies of taxation. JEL Classification: F01, H29 [ABSTRACT FROM AUTHOR]

The present article employs balance of payment constrained growth model (BPCG) to investigate the relevance of exports, capital movements as well as relative prices on growth performance of the United Kingdom from 1970 to 2018. It makes use of autoregressive distributed lag model (ARDL) for the analysis. It was found that the innovative BPCG model is suitable for the explanation of growth experience of the UK. Accordingly, Keynesian mechanism-income plays the dominant adjustment role in restoring equilibrium. More interestingly, the inclusion of relative prices and capital flows in the balance of payments constraint model tends to influence the levels of output but they do not exert any substantial effect on the balance of payment equilibrium growth rate of the UK. In conclusion, the prosperity and growth of the world (OECD countries) and the expansion of exports would help in guaranteeing the steady-state of the UK economy. [ABSTRACT FROM AUTHOR]

Industrial organization economics and resource-based views of the firm have disagreed over what matters most to profitability for more than 60 years. Until recent variance decomposition studies started trying to determine the relative importance of industry, corporate parent, and business segment on profitability, little research had been done to investigate the extent to which difference in countries could explain the variation in industry performance. This study explores variation in high-tech industry performance, with particular interest in the relative effects of country versus industry for four country classes and eight geographic regions. A variance components model revealed that while country dominated high-tech industry performance in the developed countries and geographic regions North America, South America, All America, Western Europe, and All Europe, industry factors played a role in the development of high-tech industries worldwide. We also found that the effects of industry contributed substantially to the performance of high-tech industry when there was sustainable investment and innovation, especially in newly industrializing economies, large less-developed countries, and Southeast Asia [ABSTRACT FROM AUTHOR]