(w/ C. F. Foley and J. R. Hines Jr.) Review of Financial Studies 19, no. 4 (Winter 2006), 1433-1464.
This paper evaluates the impact of capital controls and their liberalization on the activities of U.S. multinational firms.
Read MoreThe Degradation of Reported Corporate Profits→
/Journal of Economic Perspectives 19, no. 4 (Fall 2005), 171-192. Reprinted in W. DeBondt (ed.), Financial Accounting and Investment Management, Edward Elgar, 2008.
U.S. firms are afforded the opportunity to characterize profits to capital markets and tax authorities in distinct ways.
Read MoreForeign Direct Investment and the Domestic Capital Stock→
/(w/ C. F. Foley and J. R. Hines Jr.) American Economic Review 95, no. 2 (May 2005), 33-38.
This paper evaluates evidence of the impact of outbound foreign direct investment (FDI) on domestic investment rates.
Read MoreInvestment, Overhang, and Tax Policy
/(w/ A. Goolsbee) Brookings Papers on Economic Activity, 2004 no. 2 (Washington D.C.: Brookings Institution, 2005), 285-338.
The past decade has seen an unusual pattern of investment. The boom of the 1990s generated unusually high investment rates, particularly in equipment, and the bust of the 2000s witnessed an unusually large decline in investment
Read MoreForeign Direct Investment in a World of Multiple Taxes→
/(w/ C. F. Foley and J. R. Hines Jr.) Journal of Public Economics 88, no. 12 (December 2004), 2727-2744.
While governments have multiple tax instruments available to them, studies of the effect of tax policy on the locational decisions of multinationals typically focus exclusively on host country corporate income tax rates and their interaction with home country tax rules.
Read MoreOld Rules and New Realities: Corporate Tax Policy in a Global Setting
/(w/ J.R. Hines Jr.) National Tax Journal 57, no. 4 (December 2004), 937-960.
This paper reassesses the burden of the current U.S. international tax regime and reconsiders well–known welfare benchmarks used to guide international tax reform.
Read MoreThe Comovement of Returns and Investment Within the Multinational Firm→
/(w/ C. F. Foley) in NBER International Seminar on Macroeconomics, MIT Press, 2006.
Can financial integration, particularly the cross-border investments of multinational firms, help explain the synchronization of business cycles?
Read MoreSharing the Spoils: Taxing International Flows of Human Capital
/(w/ D. Kapur and J. McHale) International Tax and Public Finance 11, no. 5 (September 2004), 663-693.
Read MoreThe Costs of Shared Ownership: Evidence From International Joint Ventures→
/(w/ C. F. Foley and J. R. Hines Jr.) Journal of Financial Economics 73, no. 2 (August 2004), 323-374. This paper is a revision of HBS Working Paper 03-017 and NBER Working Paper Series No. 9115, "International Joint Ventures and the Boundaries of the Firm."
This paper analyzes the determinants of partial ownership of the foreign affiliates of U.S. multinational firms and, in particular, the marked decline in the use of joint ventures over the last 20 years.
Read MoreMarket Reactions to Export Subsidies→
/(w/ J. R. Hines Jr.) Journal of International Economics 74:2 (March 2008), 459-474.
This paper analyzes the economic impact of export subsidies by investigating stock price reactions to a critical event in 1997.
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Mihir Desai's academic publications have appeared in leading economics, finance, and law journals. His work has emphasized the appropriate design of tax policy in a globalized setting, the links between corporate governance and taxation, and the internal capital markets of multinational firms. His research has been cited in The Economist, BusinessWeek, The New York Times, and several other publications.