Taming Private Leviathans
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.
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Format: | Working Paper biblioteca |
Language: | English |
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World Bank, Washington, DC
2021-01
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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 https://hdl.handle.net/10986/35104 |
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dig-okr-10986351042024-08-09T06:09:28Z 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 Document de travail Documento de trabajo http://documents.worldbank.org/curated/en/786871611944325225/Taming-Private-Leviathans-Regulation-versus-Taxation https://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 application/pdf text/plain World Bank, Washington, DC |
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biblioteca |
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America del Norte |
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Biblioteca del Banco Mundial |
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INEQUALITY WEALTH CONCENTRATION COMPETITION TAXATION NATURAL RESOURCE MANAGEMENT DEVELOPMENT SMALL BUSINESS ECONOMICS TAX INCIDENCE REGULATION COMMODITY PRICES REDISTRIBUTION INCOME TRANSFERS INEQUALITY WEALTH CONCENTRATION COMPETITION TAXATION NATURAL RESOURCE MANAGEMENT DEVELOPMENT SMALL BUSINESS ECONOMICS TAX INCIDENCE REGULATION COMMODITY PRICES REDISTRIBUTION INCOME TRANSFERS |
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INEQUALITY WEALTH CONCENTRATION COMPETITION TAXATION NATURAL RESOURCE MANAGEMENT DEVELOPMENT SMALL BUSINESS ECONOMICS TAX INCIDENCE REGULATION COMMODITY PRICES REDISTRIBUTION INCOME TRANSFERS 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 |
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 |
topic_facet |
INEQUALITY WEALTH CONCENTRATION COMPETITION TAXATION NATURAL RESOURCE MANAGEMENT DEVELOPMENT SMALL BUSINESS ECONOMICS TAX INCIDENCE REGULATION COMMODITY PRICES REDISTRIBUTION INCOME TRANSFERS |
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 |
title_short |
Taming Private Leviathans |
title_full |
Taming Private Leviathans |
title_fullStr |
Taming Private Leviathans |
title_full_unstemmed |
Taming Private Leviathans |
title_sort |
taming private leviathans |
publisher |
World Bank, Washington, DC |
publishDate |
2021-01 |
url |
http://documents.worldbank.org/curated/en/786871611944325225/Taming-Private-Leviathans-Regulation-versus-Taxation https://hdl.handle.net/10986/35104 |
work_keys_str_mv |
AT arezkirabah tamingprivateleviathans AT islamasif tamingprivateleviathans AT rotagraziosigregoire tamingprivateleviathans AT arezkirabah regulationversustaxation AT islamasif regulationversustaxation AT rotagraziosigregoire regulationversustaxation |
_version_ |
1807156790689792000 |