TY  - BOOK
AU  - Chai,Jingqing
AU  - Goyal,Rishi
TI  - Tax Concessions and Foreign Direct Investment in the Eastern Caribbean Currency Union
T2  - IMF Working Papers; Working Paper
SN  - 1451871155 :
SN  - 1018-5941
PY  - 2008///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Concessions
KW  - imf
KW  - Direct Investment
KW  - FDI
KW  - Incentives
KW  - Tax Incentives
KW  - Antigua and Barbuda
KW  - Saint Vincent and the Grenadines
N2  - Tax concessions have been employed as a central component of the development strategy in the small island states comprising the Eastern Caribbean Currency Union. This paper compares the costs of concessions in terms of revenues forgone with the benefits in terms of increased foreign direct investment. The costs are very large, while the benefits appear to be marginal at best. Forgone tax revenues range between 9 1/2 and 16 percent of GDP per year, whereas total foreign direct investment does not appear to depend on concessions. A rethinking of the use of concessions in the region is needed urgently
UR  - http://elibrary.imf.org/view/IMF001/09716-9781451871159/09716-9781451871159/09716-9781451871159.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451871159
ER  -