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tiesarereadytocompeteforlimitedandmobilesourceoftaxation?Howdistin-
guishandwhatdeterminetheirabilityandpropensitytocompete?Whatmake
localjurisdictionattractiveforbusinesslocation?Andhowlocalisationofbusi-
nessisrelatedtobothliquidityandprofitabilityoffirm?Becauseoftheproblem
inquestionistwofold,themonographiscomprisedoftwocomplementaryparts.
Firstparthasbeendedicatedtofiscalfederalism,thechaptersofsecondpartare
forbusinesslocalisation.
ThefirstpartFiscalfederalismintroducestheacademicdiscussionoffiscal
federalismasprominentfieldofpubliceconomicsfiscalfederalism.Theideaof
detailedinvestigationisbecauseoftheneedfordistinguishingpropensityto
fiscalcompetitionfromthecapacityoffiscalcompetition.Thequeryoflitera-
turehasprovideddominanttheoreticalmodelsoffiscalfederalismbecauseof
threedimensionsofdecentralisation:political,societal,andeconomic.Empirical
investigationofadensityoftaxation,brandnewapproachtodetailedanalysisof
economicanddemographicsensitivityoflocalfinance,hassupplementedtheo-
reticalapproachtofiscalfederalism.Spatialanalysisoflandtaxationexercises
themodeloftaxdensityacrossPolishregionsfortheidentificationofdetermi-
nantsofterritorialdiversificationoffiscalefficiency.Thereisacrucialinterde-
pendencebetweenthesupplyoftaxcompetitionandthedemandfortaxcoordi-
nation,providedbypoliticaltaxharmonisationaswellasduetoeconomictax
centralisation.Hence,thedefinitionoftaxjurisdictionbasedonfiscal,demo-
graphicandeconomicattributesshouldprovideenoughroomforexaminationon
threecanonicalmodesoflocalgovernmentparticipationincollectedbycentral
governmentrevenuesfromcorporateincometax.
ThesecondpartisBusinessactivity.Thegeographyofcorporatefinance
focusesonlocationtheorywhichtriestodeterminethereasonsforandexplain
whyaparticularfactorisimportanttooneindustryandnottoanother.Theclas-
sicalfactorsareanalysedinrelationtoalocationandtheirimportanceinthe
processofchoosingaconvenientlocationforanenterprisenotonlyatthelocal,
national,regionalbutgloballevelaswell.Anumberofdeterminantshavebeen
identifiedintheresearchliterature,notablythoserelatedtosharedcostsforin-
frastructure,thebuild-upofaskilledlabourforce,transactionefficiency,and
knowledgespill-oversleadingtofirmlearningandinnovation.However,inthe
eraofglobalisation,internationalisationofbusinessactivityaswellamazing
technologydevelopmenttheproblemofbusinessactivitylocalisationseemsto
bemuchmorecomplexthanevenone,twodecadesago.Intheeraofglobalisa-
tion,economicintegrationandprogressingimpactoftheneweconomyonthe
reality,operationalparadigmsofanenterprisearecollapsing.Itiswidelyrecog-
nisedthatchangesintechnologyandcompetitionhavediminishedmanyofthe
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