Taming Private Leviathans : Regulation versus Taxation

Taming Private Leviathans : Regulation versus Taxation

This paper explores the interplay between concentration of wealth and policies, namely regulation and taxation. The paper exploits variation in exposure to international commodity prices. Using a global panel data set of the net worth of billionair...

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Main Authors: Arezki, Rabah, Islam, Asif, Rota-Graziosi, Gregoire
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
INEQUALITY
WEALTH CONCENTRATION
COMPETITION
TAXATION
NATURAL RESOURCE MANAGEMENT
DEVELOPMENT
SMALL BUSINESS ECONOMICS
TAX INCIDENCE
REGULATION
COMMODITY PRICES
REDISTRIBUTION
INCOME TRANSFERS
Online Access:http://documents.worldbank.org/curated/en/786871611944325225/Taming-Private-Leviathans-Regulation-versus-Taxation
http://hdl.handle.net/10986/35104
id okr-10986-35104
recordtype oai_dc
spelling okr-10986-351042022-09-20T00:11:01Z Taming Private Leviathans : Regulation versus Taxation Arezki, Rabah Islam, Asif Rota-Graziosi, Gregoire INEQUALITY WEALTH CONCENTRATION COMPETITION TAXATION NATURAL RESOURCE MANAGEMENT DEVELOPMENT SMALL BUSINESS ECONOMICS TAX INCIDENCE REGULATION COMMODITY PRICES REDISTRIBUTION INCOME TRANSFERS This paper explores the interplay between concentration of wealth and policies, namely regulation and taxation. The paper exploits variation in exposure to international commodity prices. Using a global panel data set of the net worth of billionaires, the results point to a positive relationship between commodity prices and the concentration of wealth at the top. Regulation especially pertaining to competition is found to limit the effects of commodity price shocks on the concentration of wealth, while taxation has little effect. Moreover, commodity price shocks crowd out non-resource tax revenue, hence limiting the scope for income transfers and redistribution. The results are consistent with the primacy of ex ante interventions over ex post ones for addressing wealth inequality. 2021-02-04T15:55:10Z 2021-02-04T15:55:10Z 2021-01 Working Paper http://documents.worldbank.org/curated/en/786871611944325225/Taming-Private-Leviathans-Regulation-versus-Taxation http://hdl.handle.net/10986/35104 English Policy Research Working Paper;No. 9531 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Middle East and North Africa
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic INEQUALITY
WEALTH CONCENTRATION
COMPETITION
TAXATION
NATURAL RESOURCE MANAGEMENT
DEVELOPMENT
SMALL BUSINESS ECONOMICS
TAX INCIDENCE
REGULATION
COMMODITY PRICES
REDISTRIBUTION
INCOME TRANSFERS
spellingShingle INEQUALITY
WEALTH CONCENTRATION
COMPETITION
TAXATION
NATURAL RESOURCE MANAGEMENT
DEVELOPMENT
SMALL BUSINESS ECONOMICS
TAX INCIDENCE
REGULATION
COMMODITY PRICES
REDISTRIBUTION
INCOME TRANSFERS
Arezki, Rabah
Islam, Asif
Rota-Graziosi, Gregoire
Taming Private Leviathans : Regulation versus Taxation
geographic_facet Middle East and North Africa
relation Policy Research Working Paper;No. 9531
description This paper explores the interplay between concentration of wealth and policies, namely regulation and taxation. The paper exploits variation in exposure to international commodity prices. Using a global panel data set of the net worth of billionaires, the results point to a positive relationship between commodity prices and the concentration of wealth at the top. Regulation especially pertaining to competition is found to limit the effects of commodity price shocks on the concentration of wealth, while taxation has little effect. Moreover, commodity price shocks crowd out non-resource tax revenue, hence limiting the scope for income transfers and redistribution. The results are consistent with the primacy of ex ante interventions over ex post ones for addressing wealth inequality.
format Working Paper
author Arezki, Rabah
Islam, Asif
Rota-Graziosi, Gregoire
author_facet Arezki, Rabah
Islam, Asif
Rota-Graziosi, Gregoire
author_sort Arezki, Rabah
title Taming Private Leviathans : Regulation versus Taxation
title_short Taming Private Leviathans : Regulation versus Taxation
title_full Taming Private Leviathans : Regulation versus Taxation
title_fullStr Taming Private Leviathans : Regulation versus Taxation
title_full_unstemmed Taming Private Leviathans : Regulation versus Taxation
title_sort taming private leviathans : regulation versus taxation
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/786871611944325225/Taming-Private-Leviathans-Regulation-versus-Taxation
http://hdl.handle.net/10986/35104
_version_ 1764482333509943296

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