Blatant corporate tax avoidance has attracted the ire of politicians, citizens and consumers the world over in recent years. Since the financial crisis of 2008, international taxation has become a mainstream political issue championed by social justice campaigners and the progressive press the world over. Globally, governments and intergovernmental organisations have announced a range of reforms designed to ensure that MNCs pay their ‘fair share’ of tax, while some of the world’s most powerful and profitable firms have been subjected to multibillion-dollar fines.
Browse by title
Ainsley Elbra and Richard Eccleston
Richard Eccleston and Ainsley Elbra
Economic liberalisation and the rise of MNCs in recent decades have been a double-edged sword. With the exception of the 2008 Financial Crisis and its aftermath, the rise of global capitalism has been a key driver of economic growth and technological innovation, but at the same time has undermined state sovereignty and exacerbated inequality (Mikler 2018). Nowhere has this dualism been more apparent than in the realm of corporate taxation, which has become a prime example of what Martin Wolf (2012) describes as a ‘contemporary tragedy of the global commons’. The ‘tragedy’ is such that MNC tax avoidance is now estimated to deny governments over a quarter of a trillion US dollars per year, and after years of ignoring the issue governments and firms are being forced to act (Clausing 2015; OECD 2015).
Christina Kakderi and Anastasia Tasopoulou
The economic crisis of 2008_09 had an unprecedented impact on the Greek economy leading to profound transformation both at the political and economic level. This chapter explores the impact on the region of West Macedonia which, among the Greek regions, was one of the most severely affected by the recent crisis. The chapter demonstrated that the region lacked resilience owing to its inherited structural frailties and its over-dependence on a narrow set of industries and public sector employment and pay. Whilst the European Structural Funds provided some security in terms of funding as well as some much-needed adaptability in policy tools and instruments, the highly centralised nature of government and planning structures made for limited flexibility and responsiveness at the regional scale.
Fred P. Gale
This chapter develops an approach for operationalising the concept of regional economic resilience in a cross-comparative analysis of the effects of the 2008_09 economic crisis on European regions. The approach focuses on measuring resilience in terms of post-shock outcomes and adapts available methods for dating regional business cycles to capture differences in both the timing of when the shock hit regions, and the amplitude and duration of the downturns experienced and subsequent recoveries. This analysis highlights that the economic crisis of 2008_09 was not a single event but rather a series of closely connected events that together amounted to a major economic shock. Different places were affected by these events at different times. The business cycle approach adopted for this work is a major innovation in approaches to measuring the resilience of economies to economic shocks, as it allows a more nuanced measurement of the particular response of each region.