The OeNB, the Austrian Central Bank awarded a grant to assistant professor Konstantin M. Wacker. The grant is a short-term research scholarship for € 5,000. His research project will analyse international payments that result from cross-border investments, which are part of a country's 'balance of payments'.
Wacker’s research contributes to the larger debate about "globalization and inequality", as it concerns cross-border profits and rents on global wealth.
A particular aspect to consider, are the assets that multinational corporations shift to tax havens for aggressive tax planning. For well-known jurisdictions with favourable corporate taxes, investment income flows of multinational corporations are enormous. On a net basis, they equal about one fifth of GDP in countries like Ireland and Luxembourg and nearly 100% of GDP for Malta.
Wacker: “This grant is a good example of the mutual relation between science and societal relevance. The OeNB benefits from additional academic expertise and I can put my research in a broader policy context and obtain support concerning technical data issues.”
For more information please contact Konstantin Wacker or email Konstantin Wacker.
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