Taxes, Institutions and Foreign Diversification Opportunities
---- Acknowledgments ----
We thank Alan Auerbach, Lucas Davis, Jim Hines, Peter Merrill, Bill Simpson, and seminar participants at the University of Michigan for helpful discussions and comments, and Claire Gilbert for research assistance. Desai acknowledges the financial support of the Division of Research of Harvard Business School. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.