Search

What are the consequences of the rise of foreign state-led investment for international politics? Existing research oscillates between a 'geopolitical' and a 'commercial' logic driving this type of investment and remains inconclusive about its wider international reverberations. In this paper, I suggest going beyond this dichotomy by analyzing its systemic consequences. To do so, I conceptually delineate a geoeconomic approach that emphasizes the globalized nature of foreign state investment. I argue that foreign state investment creates system-level patterns, which can be studied by observing similar sectoral and geographic investment behavior. I map this phenomenon globally for the first time, drawing on the largest dataset on foreign state investment. Empirically, I show how foreign state investment is highly concentrated in Europe, North America and East Asia, and is owned by a handful of dominant states. It is especially European geo-industrial clusters that represent the hotspots of such concentration. The findings also suggest that three global industries - energy production, high-tech manufacturing, and transportation and logistics - form the key areas for current and future state-led investment concentration. With these contributions, the paper illuminates the increasing presence of states as owners in the global political economy, and facilitates its study as a geoeconomic phenomenon.

This paper investigates the effect of the Internet on tax revenue instability, notably through the international trade channel. It has used a sample of 142 countries over the period 1995-2017, and relied primarily on the two-step system Generalized Methods of Moments (GMM) estimators (but also incidentally on the Error Component Two-Stage Least Squares estimator). Tax revenue instability is primarily measured by the instability of non-resource tax revenue, but also by the instability of total tax revenue (for robustness check). The findings indicate that the Internet exerts a negative effect on tax revenue instability. Interestingly, this effect genuinely translates through the international trade channel, regardless of the measure of tax revenue instability considered. Countries enjoy a higher negative effect of the Internet on tax revenue instability as they enjoy a greater participation in international trade. These findings, therefore, add to the potential benefits of the Internet adoption (e.g., strengthening countries' participation in international trade, enhance their tax revenue performance and promote tax reform, including in developing countries) by showing that it could also help to stabilize tax revenue, particularly through the degree of countries' participation in international trade.

The article deals with the development of a new model for taxing personal capital income and business profits incorporating elements of a (lifetime oriented) ACE system and of a traditional system of capital income taxation. This new approach adheres to decision neutrality at the enterprise level while taking into account both international competitiveness of company taxation and the requirement to meet the redistribution goal of the government. Neither a purely consumption based tax system nor the traditional tax system is capable to meet these requirements in a similar way. The distinctive core of the new system is that - according to the ideal approach of taxing lifetime income - notional interest on equity capital is deductible from the taxable profit of enterprises irrespective of their legal form. Interest income, dividends and capital gains received by individuals will be taxed according to a flat rate tax when they are withdrawn from their qualified bank accounts. Compared to the status quo, the introduction of the proposed tax system in Germany would make equity financing of investments more attractive. This could provide companies with the necessary cushion to survive financial or economic crises as they would be equipped with more equity capital.

This paper estimates the effect on innovation of increased market access facilitated by trade liberalization. We use a novel empirical design that exploits tariff cuts during the 1990s, along with detailed data on innovation among firms from 65 countries. Our results reveal a large effect of tariff cuts on innovation as measured by patent data, suggesting that multilateral liberalization has promoted innovation and growth. These effects are not driven by the deterioration of innovation quality, and the results are robust to controlling for changes in the patent system and to industry-wide trends in innovation.

This note examines how recent volatile fluctuations of world commodity prices due to the COVID-19 shock affect Asian commodity exporting economies. Our analysis shows that a drop in world commodity prices has a significant negative impact on output, consumption, and investment of sample countries. However, the impact on trade balance is positive in some countries and negative in others. The difference between these two groups is attributable to whether world commodity prices affect each country's interest rate spreads.

Globalization has brought about concerns of domestic job losses due to outsourcing to countries like China. The ‘employment footprint’ concept provides new insights into the implications of trade for employment. Using this approach for the period of 1995–2008, we analyze the relation of US jobs with international trade, particularly with China. Furthermore, we compare the US employment footprint with its labor endowment to assess if the country could be self-sufficient in terms of labor. We find that the US’s consumption increasingly depends on foreign workers. The country ‘consumes’ more labor than is nationally available; thus, self-sufficiency is not possible under realistic assumptions. Moreover, the US has benefited from jobs–especially in services–generated by the world economy. Referring to Albee’s famous play about living in illusions, we use ‘Virginia Wu’ as a Chinese version of ‘Virginia Woolf’ to argue that the perceived threat of China (Virginia Wu) is only an illusion.

This paper studies international transmission of U.S. monetary policy shocks to commodity exporters and importers. After first showing empirically that the shocks have stronger effects on commodity exporters than on importers, I then augment a standard three-country model to include commodities. Consistent with the empirical evidence, the model indicates that an expansionary monetary policy shock to the U.S. increases the aggregate output of commodity exporters by more than that of importers. This is because the increased U.S. aggregate demand triggered by the shock leads to greater U.S. demand for commodities and higher real commodity prices, and thus the exports of commodity exporters increase relative to those of commodity importers. Furthermore, I show that if commodity exporters’ currencies are pegged to the U.S. dollar, then the U.S. monetary policy shocks have stronger spillovers to commodity exporters and importers. In the event that the U.S. becomes a net energy exporter, the shocks will have weaker effects on commodity exporters and stronger impacts on importers.

We use financial disclosures to develop a novel proxy for net operating loss carryforward (NOL) tax benefits. This approach more accurately identifies firms with tax losses, more precisely measures the tax loss, and better predicts reductions in future taxes than existing proxies. We derive a prediction model, which future researchers can employ to better approximate the NOL tax benefits based on readily available financial data. We also demonstrate how NOL nonlinearity affects measurement of corporate tax status. By proposing a new measure and demonstrating trade-offs across competing proxies, we contribute to the work in public economics, corporate finance, and tax accounting that examines the responsiveness of the business sector to corporate tax incentives.

We develop an analysis that identifies the characteristics of an optimal system of shared tax collection and intergovernmental transfers. Mathematical optimization is used to find the level of taxes and intergovernmental transfers. Formulas for the optimal level of taxes and transfers to subnational governments are characterized. We suggest reforms to intergovernmental transfers to include the costs of tax inefficiency, some tax equalization transfer rules, and the marginal social benefits of local public spending. Future research could include local public spending with regional externalities, migration, and consider a dynamic model. This article proposes an original theoretical model of optimal tax coordination and transfers. The optimal level of taxes and transfers are identified. This paper proposes reforms to the participation formula for subnational governments.

The literature on tax competition has argued that tax base equalization, which reduces regional disparities in tax bases, can serve as a means of internalizing horizontal and vertical fiscal externalities. This argument assumes that each government relies on a single tax base (a regional tax on mobile capital and a federal tax on savings). This paper considers the case in which a distortionary labor tax is also available. Internalizing fiscal externalities requires that while the regional capital tax base is fully equalized, a region’s equalization entitlement for the labor tax is positive when its tax base is “larger” than the average tax base of all regions. This efficient tax base equalization system is incompatible with the primary objective of fiscal equalization.

This paper examines the effects of commodity demand and supply shocks as well as international liquidity shocks on the small open economy of Brazil using an SVAR model. The paper highlights the importance of modelling both types of shocks in the commodity sector. Including only commodity prices overstates the effect of commodity price shocks on the output of Brazil. Commodity demand shocks are much larger than commodity supply shocks in the long run. Including commodity demand and international liquidity also reduces the impact of commodity price shocks on the interest rate made available to Brazil in international capital markets. There is little evidence of Dutch disease for Brazil. However, our results show that Brazil is vulnerable to external shocks.

The purpose of the study is to determine the role of the stage of economic development on the conceptual model of taxation in Western countries by analyzing the tax systems of Japan and China. The article provides a fundamental analysis of the tax systems of Japan and China, which includes the study of the internal macroeconomic conditions of the tax policy, the analysis of the fundamental factors of the implementation of the tax model used. Parallels have been drawn between the industrial (the predominant share of industry in the structure of the economy) China and post-industrial Japan (the predominant share of the service sector and the high rate of introduction of innovative technologies into the economy). The features characteristic of the industrial and post-industrial tax systems of the countries of the Asian region have been formulated based on the conducted analysis. The conclusion of the study was a vector model that characterizes the main elements of the tax policy.

This article investigates the role of tax revenue sharing on regional development disparity. We show that competition in taxes and infrastructure widens the development gap among jurisdictions unde...

This study explores the historical roots of the relatively new topic of innovation in the creative industries. We are interested in the contributions of researchers that have proven to be important...

This study proposes a conceptual framework to investigate the economy-wide impacts of factor-biased technological change and the role of policy packages to spur inclusiveness of the economy. Based ...

Over the past seventy years developed economies have experienced a rise and a fall in labor share. We present a novel explanation to explain these observed trends -- public enterprise employment. First, we document an empirical link between labor share and public enterprise employment in a sample of fifteen developed nations in the post-war period. We then build a model that shows how public enterprise employment can increase labor share. It increases public enterprise labor share directly by overstaffing, which indirectly increases private sector labor share by reducing available labor. Finally, we show that the model's predictions are consistent with several reforms in which public enterprises were rapidly corporatized. The model successfully describes trends in labor share and inequality. Labor share immediately declines before recovering slightly and there is a one-off and permanent increase in wage inequality.

I outline a relational economy model that is broadly applicable to a range of economies both past and present. A relational economy begins from the basic premise that all economic transactions are ...

Green growth is not only an important way to build ecological civilization and promote economic transformation, but also the core essence of ensuring high-quality economic development in the new development stage. Optimization of tax system design is a key measure to release institutional dividend to promote green development. From the perspective of tax reform, this paper analyzes the current situation and the challenges of tax greening in China in recent years, and puts forward general thoughts and suggestions on how to promote green development at the new stage so as to create a two-wheel drive mechanism of carbon tax and environmental protection tax, lead the structural reform of China’s tax system, continuously improve tax regulation, and construct a green tax system with multiple taxes and means to cooperate with each other and to regulate it comprehensively and effectively.

This is an introduction to the research papers that make out this Nordic Tax Journal special issue on inequality within the international tax regime. The special issue is an outcome of the discussions that took place at the (online) conference hosted by Copenhagen Business School in September 2020. In addition to introducing the papers of this special issue, this introduction also provides a contemporary guide to tax justice and tax fairness with an emphasis on theories and principles applicable to the international tax context as this was the overall theme of the conference.

Efficiency analysis is an important step in the environmental performance evaluation research, especially in the context of the implementation of the Environmental Protection Tax Law in China. In t...

Whilst research in innovation ecosystems has focused on the connectivity, interdependence, and coevolution of actors, technologies, and institutions, there has been a gap in the study of these relationships between actors, with little explanation given on how mutually interdependent parties adapt. In this paper, we draw further on the ecological metaphor to present a view of innovation ecosystems as complex adaptive systems, where patterns of change emerge from microlevel coevolutionary interactions between actors. Drawing on this view, we explore related implications for our understanding of ecosystem boundaries, coevolutionary rules of interaction, and how ecosystems are energized through innovation. Specifically, we contribute to the literature by developing a novel account of innovation ecosystems where actors are bound together through changing modes of coevolution. Drawing on this account, we explore key theoretical and practical implications for our understanding of ecosystem actors, rules of interaction, and the wider innovation ecosystem. We conclude that innovation both maintains and drives change within the innovation ecosystem, by altering the microlevel rules of interaction and coevolutionary relationships between actors.

The article considers the active development and significant impact of digital technologies on people’s lives, functioning of enterprises in various sectors of the economy and government agencies. The level of digital competitiveness is different, which determines the importance of studying and adapting the experience of countries - digital leaders with a developed and rapidly growing digital economy of China. There has been given analysis of the main indicators of the development of China’s digital economy over the period 2018-2020, which showed high growth rates of the digital economy - more than 25%, an increase in the share of the digital economy in GDP by almost 6 p.p. There have been defined the policies, in which China is the undisputed world leader: e-commerce, financial technology, cloud computing, and the export of IT products. China’s strengthening its position in international digital rankings has been analyzed. It was ranked 4th in the Digital Opportunity Index, 16th in the Global Digital Competitiveness Index and 45th in the E-Government Development Index. This became possible due to factors such as the scale and potential of the domestic market, a high level of technological development, an active innovation policy of the state and large Chinese corporations that promotes digitalization, high quality education and research results. Taking into account the processes taking place in the global economy in 2020, the short-term and long-term effects of the COVID-19 pandemic on the development of China’s digital economy have been identified. The short-term effects include the capitalization of restrictions, testing of new technologies and familiarization of the population with new digital opportunities, the long-term ones are the expansion of demand and a change in its structure, an increase in investments in digital transformation, including through public and private support programs

Focusing on supporting the new and high-tech industries, China’s high- and new-technology enterprise (HNTE) programme aims to stimulate the innovation and creativity of enterprises. Centering on Ch...

The research objective of this article is to examine the Economic Recovery Tax Act of 1981 (ERTA) on innovative efficiency, which measures how effectively firms convert research spending and existing human capital into new patents and products. Research method- wise, this study measures innovative efficiency by dividing the number of new patents to average R&D expenses and analyses how innovative efficiency changed after the ERTA using regression. The main conclusion is that the ERTA tax credit decreased innovative efficiency and competitions for research resources could explain this reduction. These findings provide new insights on the effectiveness of R&D tax policies from the efficiency perspective. Policy makers should consider these findings when designing R&D tax policies in the future.

The rapid expansion of China’s shadow banking system in recent years has led to continuous accumulation of risks and posed threats to the security of China’s real economy. According to the specific...

It has been substantiated that digitalization is a driver of the transformation of employment in different countries.The degree of formation of the digitalized labor market by groups of countries with different levels of per capita income has been studied. It is proved that the use of digital technologies by the vast majority of companies and the economically active population simplifies the procedure of job creation, giving the opportunity to work via the Internet within the so-called “on-demand economy”. With the high degree of implementation of digital, information and communication technologies, the share of employees in the service sector is growing in the majority of countries. It is stated that the degree of digitalization of the labor market is uneven in the world. The introduction of modern technologies in high-income countries allows the population to fully realize the intellectual and creative potential, finding a job in the most efficient sector of the economy – the high-tech and knowledge-intensive services. Despite the rapid spread of digital technologies and the rapid growth of employment in the service sector in the upper-middle-income countries, the level of digital transformation of the labor market is much lower than in the high-income countries. Nowadays, there is a digital divide between these groups of countries, although, with the effective policies of governments in the upper-middle-income countries, there is a high probability of achievement of indicators of countries that are digital leaders. The trend of gradual digitalization of the services sector is also observed in the lower-middle-income countries. It is noted that the low prevalence of information and communication technologies in low-income countries makes it impossible for the population of these countries to join the global digitalized labor market. A set of measures has been systematized to harmonize the policies of governments of different countries in the field of labor relations, which are being transformed under the influence of global digitalization. Keywords: digital technologies, digitalization, employment, global digitalized labor market, high-income countries, lower-middle-income countries, low-income countries, upper-middle-income countries. JEL Classification F66, J24, J40, О33 Formulas: 5; fig.: 4, table.: 0; bibl.: 26.

The last decade has witnessed an unprecedented rise of craft brewers in the American beer industry, with market leaders actively seeking to hamper their growth. In this paper, we set a model with c...

Changes in average wage are usually attributed to technological change in the past industrial revolutions. With the emergence and gradual explosion of artificial intelligence (AI) in the 4th indust...

This paper studies the effect of female ownership on access to finance on a broad panel of developing countries. We find that female owners generally face more credit constraints compared to their ...

This paper provides a distributional analysis of the Tax Cuts and Jobs Act (TCJA), with implications for American households from changes to the individual income and corporate income taxes. We mod...

Technological competitiveness of the economy is a very dynamic concept, associated with the rapid growth of production and implementation of innovations and technologies. The latter are continuously increasing their importance in ensuring the socio-economic development of the state. The evolution of scientific approaches to interpreting innovation infrastructure through a number of systemic features of institutional support for technological competitiveness of the economy is studied. The meaning of the definitions «infrastructure of technological activity» and «technological infrastructure» is substantiated. On analyzing the development of innovation infrastructure in the marketing behavior of the national economy, the author determined general properties of the innovation and market infrastructure. It is concluded that innovation infrastructure plays the main role in the technological growth of various sectors of the national economy. It is proved that the systemic-functional approach is the most common approach to interpreting the innovation infrastructure of the national economy. It is concluded that most studies reveal the meaning of the functions of a usual innovation infrastructure, and less attention is paid to the functions and tasks characteristic for the infrastructure of the technological competitiveness of the national economy. Within the comprehensive theoretical definition of the important role infrastructure of technological competitiveness plays in innovation and technological growth of the national economy, its main functions (the innovative and regenerative, investing and stimulating, supporting, transformational, coordinating, resources-accumulating, consolidating, and process-stimulating) and tasks are defined The results of generalizing the existing approaches make it possible to form a unique approach to interpreting the definition of the «infrastructure of technological competitiveness».

Tax benefits, considering their consequences for the economy and the budget system, are the most controversial element of any tax. Therefore, policy decisions on the introduction of new, continued use or abolition of existing tax benefits should be based on reliable information about their expected or actual effectiveness and efficiency. The purpose of this article is to define methodological approaches to assessing the use of tax benefits as a prerequisite for improving the soundness of tax policy and effectiveness of public administration of the financial system. The article, based on the analysis of Western literature sources, considers methodological approaches to assessing the use of tax benefits in the context of their effectiveness (achievement of goals and fulfillment of the conditions for granting, impact on the behavior of economic agents and results of their activity), efficiency (comparison of benefits and costs) and relative efficiency (comparison of the effectiveness of tax benefits and other policy instruments), as well as evaluation methods and tools. The practical application of these methodological approaches is considered on the example of investment and innovation incentives for corporate income tax and VAT incentives (reduced tax rate on labor-intensive services). The author notes that the assessment of consequences of the introduction of tax benefits can be provided using methods of comparative analysis of the behavior of the beneficiary company before and after the introduction of the tax incentive; survey of the company's managers on how the tax benefit affected certain aspects of their behavior (investment decisions, implementation of R&D, employment and remuneration policies, etc.); and econometric analysis. According to the results of the study, it s concluded that ultimately the choice of an approach to assessing the application of tax benefits, as well as methods and tools of analysis is determined by the available information base in open sources and access to non-public information. In addition, the reliability of the results of evaluation of the application of tax benefits substantially depends on compliance with the requirements and procedures during their implementation, in particular, the definition of objectives and, if necessary, the conditions of their granting, as well as the quality and the completeness of accounting of the provided benefits. The latter, as well as the availability of the necessary information and its disclosure is one of the main problems in assessing the application of tax benefits in countries with transition economy.

Previous studies of corporate tax avoidance have focused exclusively on corporate income tax, an important tax for US firms in particular. Value added tax (VAT), which is a significant tax in other...

Underpinning China’s technological advancement are the twin-engines of exports and innovation. To better understand China’s meteoric economic transformation, we explore the extent to which new prod...

Based on the listed companies in China, this paper studies the influence of government subsidies, R&D expenditures, and enterprise innovation using the Panel Vector Autoregression (PVAR) model on o...

This study investigates the impact of agricultural financing and agricultural output growth on employment generation in Nigeria from 1981 to 2017. The study adopts the framework of the Auto Regressive Distributed Lag (ARDL) Model for analysis. The empirical results show that while agricultural financing increases employment generation in both the short run and long run, the lag of agricultural output growth increases employment generation mainly in the short run. Other variables found to have significant effect on employment generation were price and agricultural output while labor force population, wages and aggregate expenditure were insignificant. The study concludes that policy makers should endeavor to see that every fund allocated for a specific agricultural schemes and interventions should be fully utilized for its purpose. To increase employment opportunities, there should be careful monitoring of the implementation of each scheme and policy to realize their specific objectives.

With the continuous development of the capital market, in order to study the effectiveness of the multilevel capital market, the operation status of the multilevel capital market is used as the research object, and the Pareto analysis paradigm is used to study the effectiveness of the transmission mechanism of the resources allocation efficiency of the multilevel capital market. Research has shown that Pareto analysis model can be used to analyze the multilevel capital markets. Investors’ irrationality and lack of professionalism further aggravate market volatility. Research on resource allocation of multilevel capital market systems and the effectiveness of the transmission mechanism has certain theoretical significance and practical value.

The right tail of the distribution of financial variables provides important information to investors and decision-makers. In this paper, we study the role of the right tail distributional informat...

This paper isolates the interconnectivity of the Blue Economy to gain insight into a system with an interwoven consistency across an interconnected network. The Blue Economy’s definition is reconfi...

© 2021 The Author(s)This paper examines the use of survey-based measures in volatility forecasting. We argue that an aggregate volatility forecast built up from individual forecasts should be the sum of individual expected volatilities and the dispersion in mean return forecasts. We use data coming from a repeated survey to capture volatility expectations and mean returns of investors, and to produce aggregate volatility forecasts. Our survey-based volatility forecasts are consistent and quantitatively similar with forecasts based on GARCH and implied volatility models. This result is robust to both in-sample and out-of-sample comparisons and in response to news.

This study explores the impact of commodity price volatility on external debt accumulation under fixed, managed, and floating exchange rate regimes. We estimate dynamic panel data models for 97 countries from 1993 to 2016. Our empirical findings show that commodity price volatility increases external debt accumulation for commodity-exporting countries. This impact is three-times higher for countries with fixed exchange rate regimes compared to managed floating exchange rate regimes. Under floating exchange regimes, the effect of commodity price volatility on external debt is statistically insignificant. Our results suggest that the adoption of a floating exchange rate regime by commodity-exporting countries is critical to mitigate the effects of commodity price volatility on external debt accumulation.

This paper examines the efficiency of destination-and origin-based consumption taxes, in the presence of consumption generated perfect cross-border pollution spillovers, when tax revenue either finances public pollution abatement or it is lump-sum distributed. When consumption tax revenue finances the provision of public pollution abatement and regions have identical and quasi-linear preferences then, the non-cooperative equilibrium origin-based consumption taxes are efficient, while the destination-based consumption taxes are inefficiently low. When, however, consumption tax revenue is lump-sum distributed, then, the destination-based tax principle leads to inefficiently low taxes, while the origin-based tax principle leads either to inefficiently high or low taxes.

The turn of this new century has been witnessing the effort of various leading developed and developing countries in their attempt to materialize next round of industrialization by emphasizing on innovations. To potentially provide guidance to such national efforts, this paper explores the relationship between technological innovation and industrialization and the importance of disruptive innovation in the development of a nation’s international leadership. By employing the rigor of game theory, this work first looks at key conditions under which an established market invites competition and innovation. On top of such generally true results, it is consequently shown that technological innovation is a driving force behind industrialization and that disruptive innovation can assist a nation to become an international leader. Other than providing policy recommendations, this paper concludes with open problems for future research.

The shift in the political economy from market-based to informational capitalism is wrought by increased use of technology and the adoption of platforms as the dominant networks of transaction. Thi...

The general consensus in the volatility forecasting literature is that high-frequency volatility models outperform low-frequency volatility models. However, such a conclusion is reached when low-frequency volatility models are estimated from daily returns. Instead, we study this question considering daily, low-frequency volatility estimators based on open, high, low, and close daily prices. Our data sample consists of 18 stock market indices. We find that high-frequency volatility models tend to outperform low-frequency volatility models only for short-term forecasts. As the forecast horizon increases (up to one month), the difference in forecast accuracy becomes statistically indistinguishable for most market indices. To evaluate the practical implications of our results, we study a simple asset allocation problem. The results reveal that asset allocation based on high-frequency volatility model forecasts does not outperform asset allocation based on low-frequency volatility model forecasts.

In this study, we plan to analyze whether people reacts to sales taxes differently when the visual representation of sales taxes change. Specifically, we will manipulate the representation of tax in the direction of more visually salient or less. We expect to see people react more to the tax when presented in a more visually salient condition.

Economic growth in China has had a major impact on global commodity markets. The chapter documents the significance of China in terms of its share of global consumption and world imports of a number of commodities, as well as China’s dependence on such imports. This shows that there is considerable variation between different commodities, with China being particularly important for minerals and metals. Chinese demand has had an impact on commodity prices and was one factor that contributed to the commodity boom of 2002–11. Non-price aspects of Chinese involvement are also discussed including Chinese strategies to secure resources; Chinese policies to encourage processing at home; and the specific characteristics of the Chinese market in terms of social and environmental standards.

Subject. The article considers the tax burden shifting from mobile factors of production (labor) to environmental indicators. Objectives. The study aims to create a model for transferring the tax burden from labor to resources by reducing the rates of some taxes, and increasing others. Methods. The paper explores a variety of sources of information, the analysis and synthesis of information, logical formalization, and math modeling. Results. I analyze the interpretation of the greening or ecologization category and provide my own definition, consider various approaches to the implementation of this category presented earlier by scientists, who dealt with this issue, outline advantages and problems of applying the theory of greening the tax system in practice, create a model of transferring the tax burden from labor to resources, describe possibilities of its application, its strengths and weaknesses. Conclusions. The idea of greening the tax system that rests on the redistribution of tax burden between the means of production is the most popular. Based on this idea, it should be borne in mind that environmental taxes should serve as a tool for ensuring sustainable environmental and economic development of a country, which can be achieved, if environmental taxes meet not only formal criteria, performing the function of pumping up the budget, but also perform other functions (preventive, compensatory, stimulating, etc.). Nevertheless, even if all the conditions are met, the real consequences of tax burden shift may differ from targets.

Heterogeneous enterprise agglomeration is an important perspective in understanding urban exports and reshaping the new advantages of urban openness. This paper considers data from China’s industri...

The digitalization of economy has a significant impact on the economic sector and on other activities. In recent years, there has been a sharp increase in the digitalization of the economy in China, primarily in such an area as digital trade. China's digital trade has grown steadily in recent years, and its share in China's trade has also increased. This article proposes the term “digital trade” and presents its characteristics. Analyze the state of the China’s digital trade, the features and main trends in the development of digital trade in goods and services. In addition, put forward current problems in the development of digital trade in China. It is concluded that digital trade in China as a whole has a positive trend, but in the future, instead of digital trade in goods, digital trade in services will become a major driving force of China's digital trade. With the development of cloud computing, cloud outsourcing and offshore services will become a new sector of digital services trade in the coming years. It was noted that China's digital trade is a driver for innovative trade growth and has an active impact on China's trade and economic activity.