id	sid	tid	token	lemma	pos
ajtas-3215	1	1	american	american	PROPN
ajtas-3215	1	2	journal	journal	PROPN
ajtas-3215	1	3	of	of	ADP
ajtas-3215	1	4	technology	technology	NOUN
ajtas-3215	1	5	and	and	CCONJ
ajtas-3215	1	6	applied	apply	VERB
ajtas-3215	1	7	sciences	sciences	PROPN
ajtas-3215	1	8	issn	issn	X
ajtas-3215	1	9	(	(	PUNCT
ajtas-3215	1	10	e	e	NOUN
ajtas-3215	1	11	):	):	PUNCT
ajtas-3215	1	12	2832	2832	NUM
ajtas-3215	1	13	-	-	SYM
ajtas-3215	1	14	1766	1766	NUM
ajtas-3215	1	15	volume	volume	NOUN
ajtas-3215	1	16	43	43	NUM
ajtas-3215	1	17	,	,	PUNCT
ajtas-3215	1	18	december	december	PROPN
ajtas-3215	1	19	2025	2025	NUM
ajtas-3215	1	20	p	p	NOUN
ajtas-3215	1	21	a	a	DET
ajtas-3215	1	22	g	g	NOUN
ajtas-3215	1	23	e	e	NOUN
ajtas-3215	2	1	|	|	ADV
ajtas-3215	2	2	44	44	NUM
ajtas-3215	2	3	www.americanjournal.org	www.americanjournal.org	NOUN
ajtas-3215	2	4	the	the	DET
ajtas-3215	2	5	impact	impact	NOUN
ajtas-3215	2	6	of	of	ADP
ajtas-3215	2	7	tax	tax	NOUN
ajtas-3215	2	8	policy	policy	NOUN
ajtas-3215	2	9	on	on	ADP
ajtas-3215	2	10	the	the	DET
ajtas-3215	2	11	investment	investment	NOUN
ajtas-3215	2	12	climate	climate	NOUN
ajtas-3215	2	13	:	:	PUNCT
ajtas-3215	2	14	a	a	DET
ajtas-3215	2	15	comparative	comparative	ADJ
ajtas-3215	2	16	analysis	analysis	NOUN
ajtas-3215	2	17	of	of	ADP
ajtas-3215	2	18	developing	develop	VERB
ajtas-3215	2	19	countries	country	NOUN
ajtas-3215	2	20	mirkamol	mirkamol	PROPN
ajtas-3215	2	21	sagdiev	sagdiev	ADJ
ajtas-3215	2	22	financial	financial	ADJ
ajtas-3215	2	23	expert	expert	NOUN
ajtas-3215	2	24	,	,	PUNCT
ajtas-3215	2	25	usa	usa	PROPN
ajtas-3215	2	26	a	a	DET
ajtas-3215	2	27	b	b	PROPN
ajtas-3215	2	28	s	s	ADP
ajtas-3215	2	29	t	t	PROPN
ajtas-3215	2	30	r	r	NOUN
ajtas-3215	2	31	a	a	DET
ajtas-3215	2	32	c	c	NOUN
ajtas-3215	2	33	t	t	NOUN
ajtas-3215	2	34	k	k	X
ajtas-3215	2	35	e	e	PROPN
ajtas-3215	2	36	y	y	PROPN
ajtas-3215	2	37	w	w	NOUN
ajtas-3215	2	38	o	o	NOUN
ajtas-3215	2	39	r	r	NOUN
ajtas-3215	2	40	d	d	PROPN
ajtas-3215	2	41	s	s	VERB
ajtas-3215	2	42	this	this	DET
ajtas-3215	2	43	article	article	NOUN
ajtas-3215	2	44	examines	examine	VERB
ajtas-3215	2	45	the	the	DET
ajtas-3215	2	46	impact	impact	NOUN
ajtas-3215	2	47	of	of	ADP
ajtas-3215	2	48	tax	tax	NOUN
ajtas-3215	2	49	policy	policy	NOUN
ajtas-3215	2	50	on	on	ADP
ajtas-3215	2	51	the	the	DET
ajtas-3215	2	52	investment	investment	NOUN
ajtas-3215	2	53	climate	climate	NOUN
ajtas-3215	2	54	in	in	ADP
ajtas-3215	2	55	developing	develop	VERB
ajtas-3215	2	56	countries	country	NOUN
ajtas-3215	2	57	.	.	PUNCT
ajtas-3215	3	1	a	a	DET
ajtas-3215	3	2	comparative	comparative	ADJ
ajtas-3215	3	3	analysis	analysis	NOUN
ajtas-3215	3	4	of	of	ADP
ajtas-3215	3	5	tax	tax	NOUN
ajtas-3215	3	6	practices	practice	NOUN
ajtas-3215	3	7	across	across	ADP
ajtas-3215	3	8	various	various	ADJ
ajtas-3215	3	9	countries	country	NOUN
ajtas-3215	3	10	is	be	AUX
ajtas-3215	3	11	provided	provide	VERB
ajtas-3215	3	12	,	,	PUNCT
ajtas-3215	3	13	examining	examine	VERB
ajtas-3215	3	14	the	the	DET
ajtas-3215	3	15	mechanisms	mechanism	NOUN
ajtas-3215	3	16	by	by	ADP
ajtas-3215	3	17	which	which	PRON
ajtas-3215	3	18	corporate	corporate	ADJ
ajtas-3215	3	19	tax	tax	NOUN
ajtas-3215	3	20	rates	rate	NOUN
ajtas-3215	3	21	and	and	CCONJ
ajtas-3215	3	22	tax	tax	NOUN
ajtas-3215	3	23	incentives	incentive	NOUN
ajtas-3215	3	24	influence	influence	VERB
ajtas-3215	3	25	foreign	foreign	ADJ
ajtas-3215	3	26	direct	direct	ADJ
ajtas-3215	3	27	investment	investment	NOUN
ajtas-3215	3	28	(	(	PUNCT
ajtas-3215	3	29	fdi	fdi	NOUN
ajtas-3215	3	30	)	)	PUNCT
ajtas-3215	3	31	.	.	PUNCT
ajtas-3215	4	1	key	key	ADJ
ajtas-3215	4	2	factors	factor	NOUN
ajtas-3215	4	3	determining	determine	VERB
ajtas-3215	4	4	the	the	DET
ajtas-3215	4	5	effectiveness	effectiveness	NOUN
ajtas-3215	4	6	of	of	ADP
ajtas-3215	4	7	tax	tax	NOUN
ajtas-3215	4	8	policy	policy	NOUN
ajtas-3215	4	9	are	be	AUX
ajtas-3215	4	10	identified	identify	VERB
ajtas-3215	4	11	,	,	PUNCT
ajtas-3215	4	12	including	include	VERB
ajtas-3215	4	13	the	the	DET
ajtas-3215	4	14	quality	quality	NOUN
ajtas-3215	4	15	of	of	ADP
ajtas-3215	4	16	administration	administration	NOUN
ajtas-3215	4	17	,	,	PUNCT
ajtas-3215	4	18	transparency	transparency	NOUN
ajtas-3215	4	19	,	,	PUNCT
ajtas-3215	4	20	and	and	CCONJ
ajtas-3215	4	21	institutional	institutional	ADJ
ajtas-3215	4	22	conditions	condition	NOUN
ajtas-3215	4	23	.	.	PUNCT
ajtas-3215	5	1	tax	tax	NOUN
ajtas-3215	5	2	policy	policy	NOUN
ajtas-3215	5	3	,	,	PUNCT
ajtas-3215	5	4	investment	investment	NOUN
ajtas-3215	5	5	climate	climate	NOUN
ajtas-3215	5	6	,	,	PUNCT
ajtas-3215	5	7	foreign	foreign	ADJ
ajtas-3215	5	8	direct	direct	ADJ
ajtas-3215	5	9	investment	investment	NOUN
ajtas-3215	5	10	,	,	PUNCT
ajtas-3215	5	11	developing	develop	VERB
ajtas-3215	5	12	countries	country	NOUN
ajtas-3215	5	13	,	,	PUNCT
ajtas-3215	5	14	tax	tax	NOUN
ajtas-3215	5	15	incentives	incentive	NOUN
ajtas-3215	5	16	,	,	PUNCT
ajtas-3215	5	17	corporate	corporate	ADJ
ajtas-3215	5	18	tax	tax	NOUN
ajtas-3215	5	19	,	,	PUNCT
ajtas-3215	5	20	economic	economic	ADJ
ajtas-3215	5	21	development	development	NOUN
ajtas-3215	5	22	.	.	PUNCT
ajtas-3215	6	1	introduction	introduction	NOUN
ajtas-3215	6	2	the	the	DET
ajtas-3215	6	3	research	research	NOUN
ajtas-3215	6	4	's	's	PART
ajtas-3215	6	5	novelty	novelty	NOUN
ajtas-3215	6	6	lies	lie	VERB
ajtas-3215	6	7	in	in	ADP
ajtas-3215	6	8	its	its	PRON
ajtas-3215	6	9	comprehensive	comprehensive	ADJ
ajtas-3215	6	10	comparative	comparative	ADJ
ajtas-3215	6	11	analysis	analysis	NOUN
ajtas-3215	6	12	of	of	ADP
ajtas-3215	6	13	the	the	DET
ajtas-3215	6	14	impact	impact	NOUN
ajtas-3215	6	15	of	of	ADP
ajtas-3215	6	16	tax	tax	NOUN
ajtas-3215	6	17	policy	policy	NOUN
ajtas-3215	6	18	on	on	ADP
ajtas-3215	6	19	the	the	DET
ajtas-3215	6	20	investment	investment	NOUN
ajtas-3215	6	21	climate	climate	NOUN
ajtas-3215	6	22	of	of	ADP
ajtas-3215	6	23	developing	develop	VERB
ajtas-3215	6	24	countries	country	NOUN
ajtas-3215	6	25	,	,	PUNCT
ajtas-3215	6	26	taking	take	VERB
ajtas-3215	6	27	into	into	ADP
ajtas-3215	6	28	account	account	NOUN
ajtas-3215	6	29	institutional	institutional	ADJ
ajtas-3215	6	30	factors	factor	NOUN
ajtas-3215	6	31	,	,	PUNCT
ajtas-3215	6	32	transparency	transparency	NOUN
ajtas-3215	6	33	,	,	PUNCT
ajtas-3215	6	34	and	and	CCONJ
ajtas-3215	6	35	international	international	ADJ
ajtas-3215	6	36	coordination	coordination	NOUN
ajtas-3215	6	37	.	.	PUNCT
ajtas-3215	7	1	the	the	DET
ajtas-3215	7	2	work	work	NOUN
ajtas-3215	7	3	combines	combine	VERB
ajtas-3215	7	4	recent	recent	ADJ
ajtas-3215	7	5	empirical	empirical	ADJ
ajtas-3215	7	6	data	datum	NOUN
ajtas-3215	7	7	with	with	ADP
ajtas-3215	7	8	theoretical	theoretical	ADJ
ajtas-3215	7	9	approaches	approach	NOUN
ajtas-3215	7	10	,	,	PUNCT
ajtas-3215	7	11	demonstrating	demonstrate	VERB
ajtas-3215	7	12	that	that	SCONJ
ajtas-3215	7	13	the	the	DET
ajtas-3215	7	14	effectiveness	effectiveness	NOUN
ajtas-3215	7	15	of	of	ADP
ajtas-3215	7	16	tax	tax	NOUN
ajtas-3215	7	17	incentives	incentive	NOUN
ajtas-3215	7	18	depends	depend	VERB
ajtas-3215	7	19	not	not	PART
ajtas-3215	7	20	only	only	ADV
ajtas-3215	7	21	on	on	ADP
ajtas-3215	7	22	tax	tax	NOUN
ajtas-3215	7	23	rates	rate	NOUN
ajtas-3215	7	24	but	but	CCONJ
ajtas-3215	7	25	also	also	ADV
ajtas-3215	7	26	on	on	ADP
ajtas-3215	7	27	the	the	DET
ajtas-3215	7	28	quality	quality	NOUN
ajtas-3215	7	29	of	of	ADP
ajtas-3215	7	30	governance	governance	NOUN
ajtas-3215	7	31	,	,	PUNCT
ajtas-3215	7	32	the	the	DET
ajtas-3215	7	33	legal	legal	ADJ
ajtas-3215	7	34	environment	environment	NOUN
ajtas-3215	7	35	,	,	PUNCT
ajtas-3215	7	36	and	and	CCONJ
ajtas-3215	7	37	socio	socio	NOUN
ajtas-3215	7	38	-	-	PUNCT
ajtas-3215	7	39	environmental	environmental	ADJ
ajtas-3215	7	40	standards	standard	NOUN
ajtas-3215	7	41	.	.	PUNCT
ajtas-3215	8	1	this	this	PRON
ajtas-3215	8	2	allows	allow	VERB
ajtas-3215	8	3	for	for	ADP
ajtas-3215	8	4	the	the	DET
ajtas-3215	8	5	development	development	NOUN
ajtas-3215	8	6	of	of	ADP
ajtas-3215	8	7	more	more	ADJ
ajtas-3215	8	8	targeted	target	VERB
ajtas-3215	8	9	recommendations	recommendation	NOUN
ajtas-3215	8	10	for	for	ADP
ajtas-3215	8	11	creating	create	VERB
ajtas-3215	8	12	a	a	DET
ajtas-3215	8	13	sustainable	sustainable	ADJ
ajtas-3215	8	14	investment	investment	NOUN
ajtas-3215	8	15	environment	environment	NOUN
ajtas-3215	8	16	.	.	PUNCT
ajtas-3215	9	1	the	the	DET
ajtas-3215	9	2	investment	investment	NOUN
ajtas-3215	9	3	climate	climate	NOUN
ajtas-3215	9	4	is	be	AUX
ajtas-3215	9	5	a	a	DET
ajtas-3215	9	6	key	key	ADJ
ajtas-3215	9	7	factor	factor	NOUN
ajtas-3215	9	8	in	in	ADP
ajtas-3215	9	9	the	the	DET
ajtas-3215	9	10	economic	economic	ADJ
ajtas-3215	9	11	development	development	NOUN
ajtas-3215	9	12	of	of	ADP
ajtas-3215	9	13	developing	develop	VERB
ajtas-3215	9	14	countries	country	NOUN
ajtas-3215	9	15	.	.	PUNCT
ajtas-3215	10	1	foreign	foreign	ADJ
ajtas-3215	10	2	direct	direct	ADJ
ajtas-3215	10	3	investment	investment	NOUN
ajtas-3215	10	4	(	(	PUNCT
ajtas-3215	10	5	fdi	fdi	NOUN
ajtas-3215	10	6	)	)	PUNCT
ajtas-3215	10	7	is	be	AUX
ajtas-3215	10	8	often	often	ADV
ajtas-3215	10	9	viewed	view	VERB
ajtas-3215	10	10	as	as	ADP
ajtas-3215	10	11	a	a	DET
ajtas-3215	10	12	source	source	NOUN
ajtas-3215	10	13	of	of	ADP
ajtas-3215	10	14	long	long	ADJ
ajtas-3215	10	15	-	-	PUNCT
ajtas-3215	10	16	term	term	NOUN
ajtas-3215	10	17	economic	economic	ADJ
ajtas-3215	10	18	growth	growth	NOUN
ajtas-3215	10	19	,	,	PUNCT
ajtas-3215	10	20	as	as	SCONJ
ajtas-3215	10	21	it	it	PRON
ajtas-3215	10	22	facilitates	facilitate	VERB
ajtas-3215	10	23	technology	technology	NOUN
ajtas-3215	10	24	transfer	transfer	NOUN
ajtas-3215	10	25	,	,	PUNCT
ajtas-3215	10	26	job	job	NOUN
ajtas-3215	10	27	creation	creation	NOUN
ajtas-3215	10	28	,	,	PUNCT
ajtas-3215	10	29	increased	increase	VERB
ajtas-3215	10	30	productive	productive	ADJ
ajtas-3215	10	31	capacity	capacity	NOUN
ajtas-3215	10	32	,	,	PUNCT
ajtas-3215	10	33	and	and	CCONJ
ajtas-3215	10	34	improved	improved	ADJ
ajtas-3215	10	35	infrastructure	infrastructure	NOUN
ajtas-3215	10	36	.	.	PUNCT
ajtas-3215	11	1	many	many	ADJ
ajtas-3215	11	2	developing	develop	VERB
ajtas-3215	11	3	countries	country	NOUN
ajtas-3215	11	4	compete	compete	VERB
ajtas-3215	11	5	to	to	PART
ajtas-3215	11	6	attract	attract	VERB
ajtas-3215	11	7	fdi	fdi	NOUN
ajtas-3215	11	8	using	use	VERB
ajtas-3215	11	9	a	a	DET
ajtas-3215	11	10	variety	variety	NOUN
ajtas-3215	11	11	of	of	ADP
ajtas-3215	11	12	economic	economic	ADJ
ajtas-3215	11	13	and	and	CCONJ
ajtas-3215	11	14	fiscal	fiscal	ADJ
ajtas-3215	11	15	instruments	instrument	NOUN
ajtas-3215	11	16	,	,	PUNCT
ajtas-3215	11	17	among	among	ADP
ajtas-3215	11	18	which	which	PRON
ajtas-3215	11	19	tax	tax	NOUN
ajtas-3215	11	20	policy	policy	NOUN
ajtas-3215	11	21	plays	play	VERB
ajtas-3215	11	22	a	a	DET
ajtas-3215	11	23	significant	significant	ADJ
ajtas-3215	11	24	role	role	NOUN
ajtas-3215	11	25	.	.	PUNCT
ajtas-3215	12	1	on	on	ADP
ajtas-3215	12	2	the	the	DET
ajtas-3215	12	3	other	other	ADJ
ajtas-3215	12	4	hand	hand	NOUN
ajtas-3215	12	5	,	,	PUNCT
ajtas-3215	12	6	states	state	NOUN
ajtas-3215	12	7	must	must	AUX
ajtas-3215	12	8	also	also	ADV
ajtas-3215	12	9	ensure	ensure	VERB
ajtas-3215	12	10	the	the	DET
ajtas-3215	12	11	sustainability	sustainability	NOUN
ajtas-3215	12	12	of	of	ADP
ajtas-3215	12	13	their	their	PRON
ajtas-3215	12	14	budgets	budget	NOUN
ajtas-3215	12	15	and	and	CCONJ
ajtas-3215	12	16	mobilize	mobilize	VERB
ajtas-3215	12	17	tax	tax	NOUN
ajtas-3215	12	18	revenues	revenue	NOUN
ajtas-3215	12	19	to	to	PART
ajtas-3215	12	20	finance	finance	VERB
ajtas-3215	12	21	public	public	ADJ
ajtas-3215	12	22	goods	good	NOUN
ajtas-3215	12	23	.	.	PUNCT
ajtas-3215	13	1	in	in	ADP
ajtas-3215	13	2	this	this	DET
ajtas-3215	13	3	context	context	NOUN
ajtas-3215	13	4	,	,	PUNCT
ajtas-3215	13	5	tax	tax	NOUN
ajtas-3215	13	6	policy	policy	NOUN
ajtas-3215	13	7	finds	find	VERB
ajtas-3215	13	8	itself	itself	PRON
ajtas-3215	13	9	at	at	ADP
ajtas-3215	13	10	the	the	DET
ajtas-3215	13	11	center	center	NOUN
ajtas-3215	13	12	of	of	ADP
ajtas-3215	13	13	a	a	DET
ajtas-3215	13	14	dilemma	dilemma	NOUN
ajtas-3215	13	15	:	:	PUNCT
ajtas-3215	13	16	how	how	SCONJ
ajtas-3215	13	17	to	to	PART
ajtas-3215	13	18	stimulate	stimulate	VERB
ajtas-3215	13	19	investment	investment	NOUN
ajtas-3215	13	20	without	without	ADP
ajtas-3215	13	21	depriving	deprive	VERB
ajtas-3215	13	22	a	a	DET
ajtas-3215	13	23	significant	significant	ADJ
ajtas-3215	13	24	portion	portion	NOUN
ajtas-3215	13	25	of	of	ADP
ajtas-3215	13	26	revenue	revenue	NOUN
ajtas-3215	13	27	.	.	PUNCT
ajtas-3215	14	1	this	this	DET
ajtas-3215	14	2	problem	problem	NOUN
ajtas-3215	14	3	is	be	AUX
ajtas-3215	14	4	particularly	particularly	ADV
ajtas-3215	14	5	acute	acute	ADJ
ajtas-3215	14	6	in	in	ADP
ajtas-3215	14	7	the	the	DET
ajtas-3215	14	8	current	current	ADJ
ajtas-3215	14	9	context	context	NOUN
ajtas-3215	14	10	,	,	PUNCT
ajtas-3215	14	11	where	where	SCONJ
ajtas-3215	14	12	global	global	ADJ
ajtas-3215	14	13	changes	change	NOUN
ajtas-3215	14	14	in	in	ADP
ajtas-3215	14	15	tax	tax	NOUN
ajtas-3215	14	16	rules	rule	NOUN
ajtas-3215	14	17	are	be	AUX
ajtas-3215	14	18	increasing	increase	VERB
ajtas-3215	14	19	competition	competition	NOUN
ajtas-3215	14	20	between	between	ADP
ajtas-3215	14	21	countries	country	NOUN
ajtas-3215	14	22	(	(	PUNCT
ajtas-3215	14	23	for	for	ADP
ajtas-3215	14	24	example	example	NOUN
ajtas-3215	14	25	,	,	PUNCT
ajtas-3215	14	26	the	the	DET
ajtas-3215	14	27	introduction	introduction	NOUN
ajtas-3215	14	28	of	of	ADP
ajtas-3215	14	29	a	a	DET
ajtas-3215	14	30	minimum	minimum	ADJ
ajtas-3215	14	31	corporate	corporate	ADJ
ajtas-3215	14	32	tax	tax	NOUN
ajtas-3215	14	33	)	)	PUNCT
ajtas-3215	14	34	.	.	PUNCT
ajtas-3215	15	1	these	these	DET
ajtas-3215	15	2	trends	trend	NOUN
ajtas-3215	15	3	require	require	VERB
ajtas-3215	15	4	developing	develop	VERB
ajtas-3215	15	5	countries	country	NOUN
ajtas-3215	15	6	to	to	PART
ajtas-3215	15	7	develop	develop	VERB
ajtas-3215	15	8	balanced	balanced	ADJ
ajtas-3215	15	9	strategies	strategy	NOUN
ajtas-3215	15	10	for	for	ADP
ajtas-3215	15	11	tax	tax	NOUN
ajtas-3215	15	12	competition	competition	NOUN
ajtas-3215	15	13	and	and	CCONJ
ajtas-3215	15	14	sustainable	sustainable	ADJ
ajtas-3215	15	15	development	development	NOUN
ajtas-3215	15	16	.	.	PUNCT
ajtas-3215	16	1	understanding	understand	VERB
ajtas-3215	16	2	the	the	DET
ajtas-3215	16	3	impact	impact	NOUN
ajtas-3215	16	4	of	of	ADP
ajtas-3215	16	5	taxes	taxis	NOUN
ajtas-3215	16	6	on	on	ADP
ajtas-3215	16	7	fdi	fdi	PROPN
ajtas-3215	16	8	is	be	AUX
ajtas-3215	16	9	based	base	VERB
ajtas-3215	16	10	on	on	ADP
ajtas-3215	16	11	classical	classical	ADJ
ajtas-3215	16	12	economic	economic	ADJ
ajtas-3215	16	13	theories	theory	NOUN
ajtas-3215	16	14	of	of	ADP
ajtas-3215	16	15	international	international	ADJ
ajtas-3215	16	16	capital	capital	NOUN
ajtas-3215	16	17	flows	flow	NOUN
ajtas-3215	16	18	.	.	PUNCT
ajtas-3215	17	1	fdi	fdi	NOUN
ajtas-3215	17	2	theories	theory	NOUN
ajtas-3215	17	3	(	(	PUNCT
ajtas-3215	17	4	f	f	X
ajtas-3215	17	5	-	-	PUNCT
ajtas-3215	17	6	di	di	NOUN
ajtas-3215	17	7	theory	theory	NOUN
ajtas-3215	17	8	)	)	PUNCT
ajtas-3215	17	9	assume	assume	VERB
ajtas-3215	17	10	that	that	SCONJ
ajtas-3215	17	11	firms	firm	NOUN
ajtas-3215	17	12	carefully	carefully	ADV
ajtas-3215	17	13	weigh	weigh	VERB
ajtas-3215	17	14	both	both	CCONJ
ajtas-3215	17	15	macroeconomic	macroeconomic	ADJ
ajtas-3215	17	16	and	and	CCONJ
ajtas-3215	17	17	institutional	institutional	ADJ
ajtas-3215	17	18	factors	factor	NOUN
ajtas-3215	17	19	in	in	ADP
ajtas-3215	17	20	the	the	DET
ajtas-3215	17	21	host	host	NOUN
ajtas-3215	17	22	country	country	NOUN
ajtas-3215	17	23	when	when	SCONJ
ajtas-3215	17	24	making	make	VERB
ajtas-3215	17	25	investment	investment	NOUN
ajtas-3215	17	26	decisions	decision	NOUN
ajtas-3215	17	27	.	.	PUNCT
ajtas-3215	18	1	theoretical	theoretical	ADJ
ajtas-3215	18	2	concepts	concept	NOUN
ajtas-3215	18	3	of	of	ADP
ajtas-3215	18	4	american	american	ADJ
ajtas-3215	18	5	journal	journal	PROPN
ajtas-3215	18	6	of	of	ADP
ajtas-3215	18	7	technology	technology	NOUN
ajtas-3215	18	8	and	and	CCONJ
ajtas-3215	18	9	applied	apply	VERB
ajtas-3215	18	10	sciences	science	NOUN
ajtas-3215	18	11	43	43	NUM
ajtas-3215	18	12	,	,	PUNCT
ajtas-3215	18	13	december	december	PROPN
ajtas-3215	18	14	2025	2025	NUM
ajtas-3215	18	15	p	p	NOUN
ajtas-3215	18	16	a	a	DET
ajtas-3215	18	17	g	g	NOUN
ajtas-3215	18	18	e	e	NOUN
ajtas-3215	18	19	|	|	ADV
ajtas-3215	18	20	45	45	NUM
ajtas-3215	18	21	www.americanjournal.org	www.americanjournal.org	NOUN
ajtas-3215	18	22	capital	capital	NOUN
ajtas-3215	18	23	flows	flow	NOUN
ajtas-3215	18	24	include	include	VERB
ajtas-3215	18	25	models	model	NOUN
ajtas-3215	18	26	based	base	VERB
ajtas-3215	18	27	on	on	ADP
ajtas-3215	18	28	comparative	comparative	ADJ
ajtas-3215	18	29	advantage	advantage	NOUN
ajtas-3215	18	30	,	,	PUNCT
ajtas-3215	18	31	economies	economy	NOUN
ajtas-3215	18	32	of	of	ADP
ajtas-3215	18	33	scale	scale	NOUN
ajtas-3215	18	34	,	,	PUNCT
ajtas-3215	18	35	and	and	CCONJ
ajtas-3215	18	36	the	the	DET
ajtas-3215	18	37	internal	internal	ADJ
ajtas-3215	18	38	competition	competition	NOUN
ajtas-3215	18	39	of	of	ADP
ajtas-3215	18	40	transnational	transnational	ADJ
ajtas-3215	18	41	corporations	corporation	NOUN
ajtas-3215	18	42	(	(	PUNCT
ajtas-3215	18	43	tncs	tncs	PROPN
ajtas-3215	18	44	)	)	PUNCT
ajtas-3215	19	1	[	[	X
ajtas-3215	19	2	1	1	NUM
ajtas-3215	19	3	]	]	PUNCT
ajtas-3215	19	4	.	.	PUNCT
ajtas-3215	20	1	from	from	ADP
ajtas-3215	20	2	a	a	DET
ajtas-3215	20	3	fiscal	fiscal	ADJ
ajtas-3215	20	4	policy	policy	NOUN
ajtas-3215	20	5	perspective	perspective	NOUN
ajtas-3215	20	6	,	,	PUNCT
ajtas-3215	20	7	reducing	reduce	VERB
ajtas-3215	20	8	the	the	DET
ajtas-3215	20	9	tax	tax	NOUN
ajtas-3215	20	10	rate	rate	NOUN
ajtas-3215	20	11	reduces	reduce	VERB
ajtas-3215	20	12	the	the	DET
ajtas-3215	20	13	cost	cost	NOUN
ajtas-3215	20	14	of	of	ADP
ajtas-3215	20	15	capital	capital	NOUN
ajtas-3215	20	16	for	for	ADP
ajtas-3215	20	17	foreign	foreign	ADJ
ajtas-3215	20	18	investors	investor	NOUN
ajtas-3215	20	19	,	,	PUNCT
ajtas-3215	20	20	making	make	VERB
ajtas-3215	20	21	investment	investment	NOUN
ajtas-3215	20	22	in	in	ADP
ajtas-3215	20	23	the	the	DET
ajtas-3215	20	24	country	country	NOUN
ajtas-3215	20	25	more	more	ADV
ajtas-3215	20	26	attractive	attractive	ADJ
ajtas-3215	20	27	.	.	PUNCT
ajtas-3215	21	1	laffer	laffer	NOUN
ajtas-3215	21	2	curve	curve	NOUN
ajtas-3215	21	3	model	model	NOUN
ajtas-3215	21	4	illustrates	illustrate	VERB
ajtas-3215	21	5	that	that	SCONJ
ajtas-3215	21	6	there	there	PRON
ajtas-3215	21	7	is	be	VERB
ajtas-3215	21	8	an	an	DET
ajtas-3215	21	9	"	"	PUNCT
ajtas-3215	21	10	optimal	optimal	ADJ
ajtas-3215	21	11	"	"	PUNCT
ajtas-3215	21	12	level	level	NOUN
ajtas-3215	21	13	of	of	ADP
ajtas-3215	21	14	taxation	taxation	NOUN
ajtas-3215	21	15	at	at	ADP
ajtas-3215	21	16	which	which	PRON
ajtas-3215	21	17	tax	tax	NOUN
ajtas-3215	21	18	rates	rate	NOUN
ajtas-3215	21	19	maximize	maximize	VERB
ajtas-3215	21	20	government	government	NOUN
ajtas-3215	21	21	revenue	revenue	NOUN
ajtas-3215	21	22	without	without	ADP
ajtas-3215	21	23	discouraging	discourage	VERB
ajtas-3215	21	24	economic	economic	ADJ
ajtas-3215	21	25	activity	activity	NOUN
ajtas-3215	21	26	and	and	CCONJ
ajtas-3215	21	27	investment	investment	NOUN
ajtas-3215	22	1	[	[	X
ajtas-3215	22	2	2	2	NUM
ajtas-3215	22	3	]	]	PUNCT
ajtas-3215	22	4	.	.	PUNCT
ajtas-3215	23	1	if	if	SCONJ
ajtas-3215	23	2	the	the	DET
ajtas-3215	23	3	tax	tax	NOUN
ajtas-3215	23	4	rate	rate	NOUN
ajtas-3215	23	5	is	be	AUX
ajtas-3215	23	6	too	too	ADV
ajtas-3215	23	7	high	high	ADJ
ajtas-3215	23	8	,	,	PUNCT
ajtas-3215	23	9	the	the	DET
ajtas-3215	23	10	incentive	incentive	NOUN
ajtas-3215	23	11	effect	effect	NOUN
ajtas-3215	23	12	is	be	AUX
ajtas-3215	23	13	reduced	reduce	VERB
ajtas-3215	23	14	,	,	PUNCT
ajtas-3215	23	15	while	while	SCONJ
ajtas-3215	23	16	if	if	SCONJ
ajtas-3215	23	17	it	it	PRON
ajtas-3215	23	18	is	be	AUX
ajtas-3215	23	19	too	too	ADV
ajtas-3215	23	20	low	low	ADJ
ajtas-3215	23	21	,	,	PUNCT
ajtas-3215	23	22	the	the	DET
ajtas-3215	23	23	government	government	NOUN
ajtas-3215	23	24	may	may	AUX
ajtas-3215	23	25	lose	lose	VERB
ajtas-3215	23	26	revenue	revenue	NOUN
ajtas-3215	23	27	.	.	PUNCT
ajtas-3215	24	1	supply	supply	NOUN
ajtas-3215	24	2	-	-	PUNCT
ajtas-3215	24	3	side	side	NOUN
ajtas-3215	24	4	theory	theory	NOUN
ajtas-3215	24	5	in	in	ADP
ajtas-3215	24	6	economics	economic	NOUN
ajtas-3215	24	7	,	,	PUNCT
ajtas-3215	24	8	tax	tax	NOUN
ajtas-3215	24	9	reduction	reduction	NOUN
ajtas-3215	24	10	stimulates	stimulate	VERB
ajtas-3215	24	11	investment	investment	NOUN
ajtas-3215	24	12	and	and	CCONJ
ajtas-3215	24	13	economic	economic	ADJ
ajtas-3215	24	14	growth	growth	NOUN
ajtas-3215	24	15	because	because	SCONJ
ajtas-3215	24	16	it	it	PRON
ajtas-3215	24	17	reduces	reduce	VERB
ajtas-3215	24	18	barriers	barrier	NOUN
ajtas-3215	24	19	to	to	ADP
ajtas-3215	24	20	entrepreneurship	entrepreneurship	NOUN
ajtas-3215	24	21	and	and	CCONJ
ajtas-3215	24	22	allows	allow	VERB
ajtas-3215	24	23	economic	economic	ADJ
ajtas-3215	24	24	agents	agent	NOUN
ajtas-3215	24	25	to	to	PART
ajtas-3215	24	26	reinvest	reinvest	VERB
ajtas-3215	24	27	profits	profit	NOUN
ajtas-3215	24	28	[	[	X
ajtas-3215	24	29	3	3	NUM
ajtas-3215	24	30	]	]	PUNCT
ajtas-3215	24	31	.	.	PUNCT
ajtas-3215	25	1	in	in	ADP
ajtas-3215	25	2	this	this	DET
ajtas-3215	25	3	approach	approach	NOUN
ajtas-3215	25	4	,	,	PUNCT
ajtas-3215	25	5	tax	tax	NOUN
ajtas-3215	25	6	policy	policy	NOUN
ajtas-3215	25	7	is	be	AUX
ajtas-3215	25	8	viewed	view	VERB
ajtas-3215	25	9	as	as	ADP
ajtas-3215	25	10	a	a	DET
ajtas-3215	25	11	tool	tool	NOUN
ajtas-3215	25	12	for	for	ADP
ajtas-3215	25	13	stimulating	stimulate	VERB
ajtas-3215	25	14	capital	capital	NOUN
ajtas-3215	25	15	-	-	PUNCT
ajtas-3215	25	16	intensive	intensive	ADJ
ajtas-3215	25	17	investment	investment	NOUN
ajtas-3215	25	18	.	.	PUNCT
ajtas-3215	26	1	strong	strong	ADJ
ajtas-3215	26	2	competition	competition	NOUN
ajtas-3215	26	3	between	between	ADP
ajtas-3215	26	4	countries	country	NOUN
ajtas-3215	26	5	to	to	PART
ajtas-3215	26	6	lower	lower	VERB
ajtas-3215	26	7	corporate	corporate	ADJ
ajtas-3215	26	8	tax	tax	NOUN
ajtas-3215	26	9	rates	rate	NOUN
ajtas-3215	26	10	can	can	AUX
ajtas-3215	26	11	lead	lead	VERB
ajtas-3215	26	12	to	to	ADP
ajtas-3215	26	13	a	a	DET
ajtas-3215	26	14	"	"	PUNCT
ajtas-3215	26	15	race	race	NOUN
ajtas-3215	26	16	to	to	ADP
ajtas-3215	26	17	the	the	DET
ajtas-3215	26	18	bottom	bottom	NOUN
ajtas-3215	26	19	,	,	PUNCT
ajtas-3215	26	20	"	"	PUNCT
ajtas-3215	26	21	where	where	SCONJ
ajtas-3215	26	22	countries	country	NOUN
ajtas-3215	26	23	sacrifice	sacrifice	VERB
ajtas-3215	26	24	tax	tax	NOUN
ajtas-3215	26	25	revenues	revenue	NOUN
ajtas-3215	26	26	for	for	ADP
ajtas-3215	26	27	short	short	ADJ
ajtas-3215	26	28	-	-	PUNCT
ajtas-3215	26	29	term	term	NOUN
ajtas-3215	26	30	investment	investment	NOUN
ajtas-3215	26	31	.	.	PUNCT
ajtas-3215	27	1	empirical	empirical	ADJ
ajtas-3215	27	2	studies	study	NOUN
ajtas-3215	27	3	and	and	CCONJ
ajtas-3215	27	4	economic	economic	ADJ
ajtas-3215	27	5	reports	report	NOUN
ajtas-3215	27	6	warn	warn	VERB
ajtas-3215	27	7	that	that	SCONJ
ajtas-3215	27	8	such	such	ADJ
ajtas-3215	27	9	measures	measure	NOUN
ajtas-3215	27	10	are	be	AUX
ajtas-3215	27	11	not	not	PART
ajtas-3215	27	12	always	always	ADV
ajtas-3215	27	13	sustainable	sustainable	ADJ
ajtas-3215	27	14	,	,	PUNCT
ajtas-3215	27	15	especially	especially	ADV
ajtas-3215	27	16	in	in	ADP
ajtas-3215	27	17	countries	country	NOUN
ajtas-3215	27	18	with	with	ADP
ajtas-3215	27	19	limited	limited	ADJ
ajtas-3215	27	20	institutional	institutional	ADJ
ajtas-3215	27	21	and	and	CCONJ
ajtas-3215	27	22	administrative	administrative	ADJ
ajtas-3215	27	23	resources	resource	NOUN
ajtas-3215	27	24	(	(	PUNCT
ajtas-3215	27	25	tax	tax	NOUN
ajtas-3215	27	26	administration	administration	NOUN
ajtas-3215	27	27	,	,	PUNCT
ajtas-3215	27	28	transparency	transparency	NOUN
ajtas-3215	27	29	)	)	PUNCT
ajtas-3215	28	1	[	[	X
ajtas-3215	28	2	4	4	NUM
ajtas-3215	28	3	]	]	PUNCT
ajtas-3215	28	4	.	.	PUNCT
ajtas-3215	29	1	the	the	DET
ajtas-3215	29	2	type	type	NOUN
ajtas-3215	29	3	of	of	ADP
ajtas-3215	29	4	corporate	corporate	ADJ
ajtas-3215	29	5	tax	tax	NOUN
ajtas-3215	29	6	system	system	NOUN
ajtas-3215	29	7	-	-	PUNCT
ajtas-3215	29	8	territorial	territorial	ADJ
ajtas-3215	29	9	or	or	CCONJ
ajtas-3215	29	10	global	global	ADJ
ajtas-3215	29	11	-	-	PUNCT
ajtas-3215	29	12	is	be	AUX
ajtas-3215	29	13	of	of	ADP
ajtas-3215	29	14	particular	particular	ADJ
ajtas-3215	29	15	importance	importance	NOUN
ajtas-3215	29	16	in	in	ADP
ajtas-3215	29	17	the	the	DET
ajtas-3215	29	18	tax	tax	NOUN
ajtas-3215	29	19	policy	policy	NOUN
ajtas-3215	29	20	of	of	ADP
ajtas-3215	29	21	developing	develop	VERB
ajtas-3215	29	22	countries	country	NOUN
ajtas-3215	29	23	.	.	PUNCT
ajtas-3215	30	1	research	research	NOUN
ajtas-3215	30	2	by	by	ADP
ajtas-3215	30	3	the	the	DET
ajtas-3215	30	4	international	international	ADJ
ajtas-3215	30	5	monetary	monetary	ADJ
ajtas-3215	30	6	fund	fund	NOUN
ajtas-3215	30	7	shows	show	VERB
ajtas-3215	30	8	that	that	SCONJ
ajtas-3215	30	9	the	the	DET
ajtas-3215	30	10	transition	transition	NOUN
ajtas-3215	30	11	of	of	ADP
ajtas-3215	30	12	large	large	ADJ
ajtas-3215	30	13	economies	economy	NOUN
ajtas-3215	30	14	to	to	ADP
ajtas-3215	30	15	a	a	DET
ajtas-3215	30	16	territorial	territorial	ADJ
ajtas-3215	30	17	system	system	NOUN
ajtas-3215	30	18	(	(	PUNCT
ajtas-3215	30	19	where	where	SCONJ
ajtas-3215	30	20	taxes	taxis	NOUN
ajtas-3215	30	21	are	be	AUX
ajtas-3215	30	22	levied	levy	VERB
ajtas-3215	30	23	only	only	ADV
ajtas-3215	30	24	on	on	ADP
ajtas-3215	30	25	profits	profit	NOUN
ajtas-3215	30	26	earned	earn	VERB
ajtas-3215	30	27	domestically	domestically	ADV
ajtas-3215	30	28	,	,	PUNCT
ajtas-3215	30	29	rather	rather	ADV
ajtas-3215	30	30	than	than	ADP
ajtas-3215	30	31	globally	globally	ADV
ajtas-3215	30	32	)	)	PUNCT
ajtas-3215	30	33	can	can	AUX
ajtas-3215	30	34	change	change	VERB
ajtas-3215	30	35	the	the	DET
ajtas-3215	30	36	sensitivity	sensitivity	NOUN
ajtas-3215	30	37	of	of	ADP
ajtas-3215	30	38	corporations	corporation	NOUN
ajtas-3215	30	39	to	to	PART
ajtas-3215	30	40	tax	tax	NOUN
ajtas-3215	30	41	rates	rate	NOUN
ajtas-3215	30	42	in	in	ADP
ajtas-3215	30	43	recipient	recipient	NOUN
ajtas-3215	30	44	countries	country	NOUN
ajtas-3215	30	45	[	[	X
ajtas-3215	30	46	4	4	NUM
ajtas-3215	30	47	]	]	PUNCT
ajtas-3215	30	48	.	.	PUNCT
ajtas-3215	31	1	this	this	PRON
ajtas-3215	31	2	is	be	AUX
ajtas-3215	31	3	especially	especially	ADV
ajtas-3215	31	4	important	important	ADJ
ajtas-3215	31	5	for	for	ADP
ajtas-3215	31	6	low	low	ADJ
ajtas-3215	31	7	-	-	PUNCT
ajtas-3215	31	8	income	income	NOUN
ajtas-3215	31	9	countries	country	NOUN
ajtas-3215	31	10	trying	try	VERB
ajtas-3215	31	11	to	to	PART
ajtas-3215	31	12	maintain	maintain	VERB
ajtas-3215	31	13	their	their	PRON
ajtas-3215	31	14	competitiveness	competitiveness	NOUN
ajtas-3215	31	15	and	and	CCONJ
ajtas-3215	31	16	tax	tax	NOUN
ajtas-3215	31	17	base	base	NOUN
ajtas-3215	31	18	.	.	PUNCT
ajtas-3215	32	1	based	base	VERB
ajtas-3215	32	2	on	on	ADP
ajtas-3215	32	3	the	the	DET
ajtas-3215	32	4	above	above	NOUN
ajtas-3215	32	5	,	,	PUNCT
ajtas-3215	32	6	the	the	DET
ajtas-3215	32	7	main	main	ADJ
ajtas-3215	32	8	objectives	objective	NOUN
ajtas-3215	32	9	of	of	ADP
ajtas-3215	32	10	this	this	DET
ajtas-3215	32	11	study	study	NOUN
ajtas-3215	32	12	are	be	AUX
ajtas-3215	32	13	:	:	PUNCT
ajtas-3215	32	14	1	1	X
ajtas-3215	32	15	.	.	PUNCT
ajtas-3215	32	16	analyze	analyze	VERB
ajtas-3215	32	17	how	how	SCONJ
ajtas-3215	32	18	key	key	ADJ
ajtas-3215	32	19	elements	element	NOUN
ajtas-3215	32	20	of	of	ADP
ajtas-3215	32	21	tax	tax	NOUN
ajtas-3215	32	22	policy	policy	NOUN
ajtas-3215	32	23	,	,	PUNCT
ajtas-3215	32	24	such	such	ADJ
ajtas-3215	32	25	as	as	ADP
ajtas-3215	32	26	the	the	DET
ajtas-3215	32	27	corporate	corporate	ADJ
ajtas-3215	32	28	tax	tax	NOUN
ajtas-3215	32	29	rate	rate	NOUN
ajtas-3215	32	30	,	,	PUNCT
ajtas-3215	32	31	the	the	DET
ajtas-3215	32	32	structure	structure	NOUN
ajtas-3215	32	33	of	of	ADP
ajtas-3215	32	34	the	the	DET
ajtas-3215	32	35	tax	tax	NOUN
ajtas-3215	32	36	base	base	NOUN
ajtas-3215	32	37	,	,	PUNCT
ajtas-3215	32	38	and	and	CCONJ
ajtas-3215	32	39	tax	tax	NOUN
ajtas-3215	32	40	incentives	incentive	NOUN
ajtas-3215	32	41	,	,	PUNCT
ajtas-3215	32	42	affect	affect	VERB
ajtas-3215	32	43	the	the	DET
ajtas-3215	32	44	investment	investment	NOUN
ajtas-3215	32	45	climate	climate	NOUN
ajtas-3215	32	46	of	of	ADP
ajtas-3215	32	47	developing	develop	VERB
ajtas-3215	32	48	countries	country	NOUN
ajtas-3215	32	49	.	.	PUNCT
ajtas-3215	33	1	2	2	X
ajtas-3215	33	2	.	.	X
ajtas-3215	33	3	compare	compare	VERB
ajtas-3215	33	4	the	the	DET
ajtas-3215	33	5	practices	practice	NOUN
ajtas-3215	33	6	of	of	ADP
ajtas-3215	33	7	tax	tax	NOUN
ajtas-3215	33	8	incentives	incentive	NOUN
ajtas-3215	33	9	for	for	ADP
ajtas-3215	33	10	fdi	fdi	NOUN
ajtas-3215	33	11	in	in	ADP
ajtas-3215	33	12	different	different	ADJ
ajtas-3215	33	13	developing	develop	VERB
ajtas-3215	33	14	economies	economy	NOUN
ajtas-3215	33	15	and	and	CCONJ
ajtas-3215	33	16	identify	identify	VERB
ajtas-3215	33	17	the	the	DET
ajtas-3215	33	18	main	main	ADJ
ajtas-3215	33	19	institutional	institutional	ADJ
ajtas-3215	33	20	factors	factor	NOUN
ajtas-3215	33	21	(	(	PUNCT
ajtas-3215	33	22	administrative	administrative	ADJ
ajtas-3215	33	23	quality	quality	NOUN
ajtas-3215	33	24	,	,	PUNCT
ajtas-3215	33	25	transparency	transparency	NOUN
ajtas-3215	33	26	,	,	PUNCT
ajtas-3215	33	27	legal	legal	ADJ
ajtas-3215	33	28	stability	stability	NOUN
ajtas-3215	33	29	)	)	PUNCT
ajtas-3215	33	30	that	that	PRON
ajtas-3215	33	31	strengthen	strengthen	VERB
ajtas-3215	33	32	or	or	CCONJ
ajtas-3215	33	33	weaken	weaken	VERB
ajtas-3215	33	34	this	this	DET
ajtas-3215	33	35	effect	effect	NOUN
ajtas-3215	33	36	.	.	PUNCT
ajtas-3215	34	1	3	3	X
ajtas-3215	34	2	.	.	X
ajtas-3215	34	3	identify	identify	VERB
ajtas-3215	34	4	the	the	DET
ajtas-3215	34	5	risks	risk	NOUN
ajtas-3215	34	6	associated	associate	VERB
ajtas-3215	34	7	with	with	ADP
ajtas-3215	34	8	tax	tax	NOUN
ajtas-3215	34	9	competition	competition	NOUN
ajtas-3215	34	10	and	and	CCONJ
ajtas-3215	34	11	propose	propose	VERB
ajtas-3215	34	12	recommendations	recommendation	NOUN
ajtas-3215	34	13	for	for	ADP
ajtas-3215	34	14	a	a	DET
ajtas-3215	34	15	balanced	balanced	ADJ
ajtas-3215	34	16	fiscal	fiscal	ADJ
ajtas-3215	34	17	strategy	strategy	NOUN
ajtas-3215	34	18	that	that	PRON
ajtas-3215	34	19	combines	combine	VERB
ajtas-3215	34	20	investment	investment	NOUN
ajtas-3215	34	21	attraction	attraction	NOUN
ajtas-3215	34	22	and	and	CCONJ
ajtas-3215	34	23	sustainable	sustainable	ADJ
ajtas-3215	34	24	budget	budget	NOUN
ajtas-3215	34	25	revenues	revenue	NOUN
ajtas-3215	34	26	.	.	PUNCT
ajtas-3215	35	1	to	to	PART
ajtas-3215	35	2	achieve	achieve	VERB
ajtas-3215	35	3	these	these	DET
ajtas-3215	35	4	goals	goal	NOUN
ajtas-3215	35	5	,	,	PUNCT
ajtas-3215	35	6	the	the	DET
ajtas-3215	35	7	following	follow	VERB
ajtas-3215	35	8	methods	method	NOUN
ajtas-3215	35	9	are	be	AUX
ajtas-3215	35	10	used	use	VERB
ajtas-3215	35	11	:	:	PUNCT
ajtas-3215	35	12	1	1	X
ajtas-3215	35	13	.	.	X
ajtas-3215	35	14	review	review	NOUN
ajtas-3215	35	15	of	of	ADP
ajtas-3215	35	16	theoretical	theoretical	ADJ
ajtas-3215	35	17	and	and	CCONJ
ajtas-3215	35	18	empirical	empirical	ADJ
ajtas-3215	35	19	literature	literature	NOUN
ajtas-3215	35	20	,	,	PUNCT
ajtas-3215	35	21	including	include	VERB
ajtas-3215	35	22	works	work	NOUN
ajtas-3215	35	23	of	of	ADP
ajtas-3215	35	24	international	international	ADJ
ajtas-3215	35	25	organizations	organization	NOUN
ajtas-3215	35	26	(	(	PUNCT
ajtas-3215	35	27	imf	imf	PROPN
ajtas-3215	35	28	,	,	PUNCT
ajtas-3215	35	29	oecd	oecd	PROPN
ajtas-3215	35	30	)	)	PUNCT
ajtas-3215	35	31	and	and	CCONJ
ajtas-3215	35	32	academic	academic	ADJ
ajtas-3215	35	33	research	research	NOUN
ajtas-3215	35	34	.	.	PUNCT
ajtas-3215	36	1	2	2	X
ajtas-3215	36	2	.	.	X
ajtas-3215	36	3	a	a	DET
ajtas-3215	36	4	comparative	comparative	ADJ
ajtas-3215	36	5	analysis	analysis	NOUN
ajtas-3215	36	6	of	of	ADP
ajtas-3215	36	7	country	country	NOUN
ajtas-3215	36	8	experiences	experience	NOUN
ajtas-3215	36	9	based	base	VERB
ajtas-3215	36	10	on	on	ADP
ajtas-3215	36	11	imf	imf	PROPN
ajtas-3215	36	12	and	and	CCONJ
ajtas-3215	36	13	oecd	oecd	PROPN
ajtas-3215	36	14	publications	publication	NOUN
ajtas-3215	36	15	,	,	PUNCT
ajtas-3215	36	16	as	as	ADV
ajtas-3215	36	17	well	well	ADV
ajtas-3215	36	18	as	as	ADP
ajtas-3215	36	19	studies	study	NOUN
ajtas-3215	36	20	on	on	ADP
ajtas-3215	36	21	developing	develop	VERB
ajtas-3215	36	22	countries	country	NOUN
ajtas-3215	36	23	.	.	PUNCT
ajtas-3215	37	1	for	for	ADP
ajtas-3215	37	2	example	example	NOUN
ajtas-3215	37	3	,	,	PUNCT
ajtas-3215	37	4	the	the	DET
ajtas-3215	37	5	oecd	oecd	PROPN
ajtas-3215	37	6	report	report	NOUN
ajtas-3215	37	7	"	"	PUNCT
ajtas-3215	37	8	tax	tax	NOUN
ajtas-3215	37	9	effects	effect	NOUN
ajtas-3215	37	10	on	on	ADP
ajtas-3215	37	11	foreign	foreign	ADJ
ajtas-3215	37	12	direct	direct	ADJ
ajtas-3215	37	13	investment	investment	NOUN
ajtas-3215	37	14	”	"	PUNCT
ajtas-3215	37	15	examines	examine	VERB
ajtas-3215	37	16	the	the	DET
ajtas-3215	37	17	sensitivity	sensitivity	NOUN
ajtas-3215	37	18	of	of	ADP
ajtas-3215	37	19	fdi	fdi	NOUN
ajtas-3215	37	20	to	to	ADP
ajtas-3215	37	21	tax	tax	NOUN
ajtas-3215	37	22	rates	rate	NOUN
ajtas-3215	37	23	and	and	CCONJ
ajtas-3215	37	24	the	the	DET
ajtas-3215	37	25	structure	structure	NOUN
ajtas-3215	37	26	of	of	ADP
ajtas-3215	37	27	the	the	DET
ajtas-3215	37	28	tax	tax	NOUN
ajtas-3215	37	29	system	system	NOUN
ajtas-3215	37	30	[	[	X
ajtas-3215	37	31	5	5	NUM
ajtas-3215	37	32	]	]	PUNCT
ajtas-3215	37	33	.	.	PUNCT
ajtas-3215	38	1	3	3	X
ajtas-3215	38	2	.	.	X
ajtas-3215	38	3	case	case	NOUN
ajtas-3215	38	4	study	study	NOUN
ajtas-3215	38	5	(	(	PUNCT
ajtas-3215	38	6	case	case	NOUN
ajtas-3215	38	7	study	study	NOUN
ajtas-3215	38	8	)	)	PUNCT
ajtas-3215	38	9	practices	practice	NOUN
ajtas-3215	38	10	of	of	ADP
ajtas-3215	38	11	specific	specific	ADJ
ajtas-3215	38	12	developing	develop	VERB
ajtas-3215	38	13	countries	country	NOUN
ajtas-3215	38	14	,	,	PUNCT
ajtas-3215	38	15	drawing	draw	VERB
ajtas-3215	38	16	on	on	ADP
ajtas-3215	38	17	academic	academic	ADJ
ajtas-3215	38	18	papers	paper	NOUN
ajtas-3215	38	19	such	such	ADJ
ajtas-3215	38	20	as	as	ADP
ajtas-3215	38	21	the	the	DET
ajtas-3215	38	22	analysis	analysis	NOUN
ajtas-3215	38	23	of	of	ADP
ajtas-3215	38	24	georgia	georgia	PROPN
ajtas-3215	38	25	,	,	PUNCT
ajtas-3215	38	26	which	which	PRON
ajtas-3215	38	27	discusses	discuss	VERB
ajtas-3215	38	28	the	the	DET
ajtas-3215	38	29	role	role	NOUN
ajtas-3215	38	30	of	of	ADP
ajtas-3215	38	31	tax	tax	NOUN
ajtas-3215	38	32	policy	policy	NOUN
ajtas-3215	38	33	in	in	ADP
ajtas-3215	38	34	fdi	fdi	NOUN
ajtas-3215	38	35	inflows	inflow	NOUN
ajtas-3215	38	36	[	[	X
ajtas-3215	38	37	6	6	NUM
ajtas-3215	38	38	]	]	PUNCT
ajtas-3215	38	39	.	.	PUNCT
ajtas-3215	39	1	4	4	X
ajtas-3215	39	2	.	.	X
ajtas-3215	39	3	analysis	analysis	NOUN
ajtas-3215	39	4	of	of	ADP
ajtas-3215	39	5	institutional	institutional	ADJ
ajtas-3215	39	6	factors	factor	NOUN
ajtas-3215	39	7	influencing	influence	VERB
ajtas-3215	39	8	the	the	DET
ajtas-3215	39	9	fiscal	fiscal	ADJ
ajtas-3215	39	10	effect	effect	NOUN
ajtas-3215	39	11	of	of	ADP
ajtas-3215	39	12	such	such	ADJ
ajtas-3215	39	13	incentives	incentive	NOUN
ajtas-3215	39	14	,	,	PUNCT
ajtas-3215	39	15	taking	take	VERB
ajtas-3215	39	16	into	into	ADP
ajtas-3215	39	17	account	account	NOUN
ajtas-3215	39	18	research	research	NOUN
ajtas-3215	39	19	on	on	ADP
ajtas-3215	39	20	tax	tax	NOUN
ajtas-3215	39	21	competition	competition	NOUN
ajtas-3215	39	22	and	and	CCONJ
ajtas-3215	39	23	administration	administration	NOUN
ajtas-3215	39	24	.	.	PUNCT
ajtas-3215	40	1	we	we	PRON
ajtas-3215	40	2	review	review	VERB
ajtas-3215	40	3	key	key	ADJ
ajtas-3215	40	4	empirical	empirical	ADJ
ajtas-3215	40	5	studies	study	NOUN
ajtas-3215	40	6	analyzing	analyze	VERB
ajtas-3215	40	7	the	the	DET
ajtas-3215	40	8	impact	impact	NOUN
ajtas-3215	40	9	of	of	ADP
ajtas-3215	40	10	tax	tax	NOUN
ajtas-3215	40	11	policy	policy	NOUN
ajtas-3215	40	12	(	(	PUNCT
ajtas-3215	40	13	tax	tax	NOUN
ajtas-3215	40	14	rates	rate	NOUN
ajtas-3215	40	15	,	,	PUNCT
ajtas-3215	40	16	tax	tax	NOUN
ajtas-3215	40	17	burden	burden	NOUN
ajtas-3215	40	18	,	,	PUNCT
ajtas-3215	40	19	and	and	CCONJ
ajtas-3215	40	20	incentives	incentive	NOUN
ajtas-3215	40	21	)	)	PUNCT
ajtas-3215	40	22	on	on	ADP
ajtas-3215	40	23	foreign	foreign	ADJ
ajtas-3215	40	24	direct	direct	ADJ
ajtas-3215	40	25	investment	investment	NOUN
ajtas-3215	40	26	(	(	PUNCT
ajtas-3215	40	27	fdi	fdi	NOUN
ajtas-3215	40	28	)	)	PUNCT
ajtas-3215	40	29	inflows	inflow	NOUN
ajtas-3215	40	30	in	in	ADP
ajtas-3215	40	31	developing	develop	VERB
ajtas-3215	40	32	and	and	CCONJ
ajtas-3215	40	33	transition	transition	NOUN
ajtas-3215	40	34	economies	economy	NOUN
ajtas-3215	40	35	.	.	PUNCT
ajtas-3215	41	1	the	the	DET
ajtas-3215	41	2	analysis	analysis	NOUN
ajtas-3215	41	3	is	be	AUX
ajtas-3215	41	4	grouped	group	VERB
ajtas-3215	41	5	by	by	ADP
ajtas-3215	41	6	type	type	NOUN
ajtas-3215	41	7	of	of	ADP
ajtas-3215	41	8	empirical	empirical	ADJ
ajtas-3215	41	9	approach	approach	NOUN
ajtas-3215	41	10	and	and	CCONJ
ajtas-3215	41	11	thematic	thematic	ADJ
ajtas-3215	41	12	findings	finding	NOUN
ajtas-3215	41	13	.	.	PUNCT
ajtas-3215	42	1	american	american	PROPN
ajtas-3215	42	2	journal	journal	PROPN
ajtas-3215	42	3	of	of	ADP
ajtas-3215	42	4	technology	technology	NOUN
ajtas-3215	42	5	and	and	CCONJ
ajtas-3215	42	6	applied	apply	VERB
ajtas-3215	42	7	sciences	science	NOUN
ajtas-3215	42	8	43	43	NUM
ajtas-3215	42	9	,	,	PUNCT
ajtas-3215	42	10	december	december	PROPN
ajtas-3215	42	11	2025	2025	NUM
ajtas-3215	42	12	p	p	NOUN
ajtas-3215	42	13	a	a	DET
ajtas-3215	42	14	g	g	NOUN
ajtas-3215	42	15	e	e	NOUN
ajtas-3215	42	16	|	|	ADV
ajtas-3215	42	17	46	46	NUM
ajtas-3215	42	18	www.americanjournal.org	www.americanjournal.org	NOUN
ajtas-3215	42	19	table	table	NOUN
ajtas-3215	42	20	1	1	NUM
ajtas-3215	42	21	–	–	PUNCT
ajtas-3215	42	22	main	main	ADJ
ajtas-3215	42	23	empirical	empirical	ADJ
ajtas-3215	42	24	studies	study	NOUN
ajtas-3215	42	25	research	research	NOUN
ajtas-3215	42	26	(	(	PUNCT
ajtas-3215	42	27	authors	author	NOUN
ajtas-3215	42	28	,	,	PUNCT
ajtas-3215	42	29	year	year	NOUN
ajtas-3215	42	30	)	)	PUNCT
ajtas-3215	42	31	countries	country	NOUN
ajtas-3215	42	32	/	/	SYM
ajtas-3215	42	33	research	research	NOUN
ajtas-3215	42	34	area	area	NOUN
ajtas-3215	42	35	key	key	ADJ
ajtas-3215	42	36	variables	variable	NOUN
ajtas-3215	42	37	conclusions	conclusion	NOUN
ajtas-3215	42	38	korytin	korytin	PROPN
ajtas-3215	42	39	a.	a.	PROPN
ajtas-3215	42	40	v.	v.	PROPN
ajtas-3215	42	41	russia	russia	PROPN
ajtas-3215	42	42	(	(	PUNCT
ajtas-3215	42	43	industry	industry	NOUN
ajtas-3215	42	44	data	datum	NOUN
ajtas-3215	42	45	,	,	PUNCT
ajtas-3215	42	46	29	29	NUM
ajtas-3215	42	47	industries	industry	NOUN
ajtas-3215	42	48	,	,	PUNCT
ajtas-3215	42	49	2006	2006	NUM
ajtas-3215	42	50	–	–	PUNCT
ajtas-3215	42	51	2015	2015	NUM
ajtas-3215	42	52	)	)	PUNCT
ajtas-3215	42	53	average	average	ADJ
ajtas-3215	42	54	tax	tax	NOUN
ajtas-3215	42	55	rate	rate	NOUN
ajtas-3215	42	56	(	(	PUNCT
ajtas-3215	42	57	oecd	oecd	PROPN
ajtas-3215	42	58	)	)	PUNCT
ajtas-3215	42	59	,	,	PUNCT
ajtas-3215	42	60	profitability	profitability	NOUN
ajtas-3215	42	61	,	,	PUNCT
ajtas-3215	42	62	industry	industry	NOUN
ajtas-3215	42	63	characteristics	characteristic	NOUN
ajtas-3215	42	64	there	there	PRON
ajtas-3215	42	65	is	be	VERB
ajtas-3215	42	66	a	a	DET
ajtas-3215	42	67	negative	negative	ADJ
ajtas-3215	42	68	relationship	relationship	NOUN
ajtas-3215	42	69	between	between	ADP
ajtas-3215	42	70	the	the	DET
ajtas-3215	42	71	tax	tax	NOUN
ajtas-3215	42	72	burden	burden	NOUN
ajtas-3215	42	73	and	and	CCONJ
ajtas-3215	42	74	fdi	fdi	NOUN
ajtas-3215	42	75	inflows	inflow	NOUN
ajtas-3215	42	76	:	:	PUNCT
ajtas-3215	42	77	the	the	DET
ajtas-3215	42	78	elasticity	elasticity	NOUN
ajtas-3215	42	79	of	of	ADP
ajtas-3215	42	80	fdi	fdi	NOUN
ajtas-3215	42	81	flow	flow	NOUN
ajtas-3215	42	82	to	to	ADP
ajtas-3215	42	83	the	the	DET
ajtas-3215	42	84	tax	tax	NOUN
ajtas-3215	42	85	burden	burden	NOUN
ajtas-3215	42	86	is	be	AUX
ajtas-3215	42	87	about	about	ADV
ajtas-3215	42	88	0.88	0.88	NUM
ajtas-3215	42	89	,	,	PUNCT
ajtas-3215	42	90	which	which	PRON
ajtas-3215	42	91	indicates	indicate	VERB
ajtas-3215	42	92	a	a	DET
ajtas-3215	42	93	high	high	ADJ
ajtas-3215	42	94	sensitivity	sensitivity	NOUN
ajtas-3215	42	95	of	of	ADP
ajtas-3215	42	96	foreign	foreign	ADJ
ajtas-3215	42	97	investors	investor	NOUN
ajtas-3215	42	98	to	to	ADP
ajtas-3215	42	99	the	the	DET
ajtas-3215	42	100	amount	amount	NOUN
ajtas-3215	42	101	of	of	ADP
ajtas-3215	42	102	capital	capital	NOUN
ajtas-3215	42	103	tax	tax	NOUN
ajtas-3215	43	1	[	[	X
ajtas-3215	43	2	7	7	NUM
ajtas-3215	43	3	]	]	PUNCT
ajtas-3215	43	4	.	.	PUNCT
ajtas-3215	44	1	ca&c	ca&c	PROPN
ajtas-3215	44	2	press	press	PROPN
ajtas-3215	44	3	(	(	PUNCT
ajtas-3215	44	4	using	use	VERB
ajtas-3215	44	5	georgia	georgia	PROPN
ajtas-3215	44	6	as	as	ADP
ajtas-3215	44	7	an	an	DET
ajtas-3215	44	8	example	example	NOUN
ajtas-3215	44	9	)	)	PUNCT
ajtas-3215	44	10	georgia	georgia	PROPN
ajtas-3215	44	11	(	(	PUNCT
ajtas-3215	44	12	2003–2012	2003–2012	NUM
ajtas-3215	44	13	)	)	PUNCT
ajtas-3215	44	14	tax	tax	NOUN
ajtas-3215	44	15	rate	rate	NOUN
ajtas-3215	44	16	,	,	PUNCT
ajtas-3215	44	17	depreciation	depreciation	NOUN
ajtas-3215	44	18	,	,	PUNCT
ajtas-3215	44	19	tax	tax	NOUN
ajtas-3215	44	20	administration	administration	NOUN
ajtas-3215	44	21	the	the	DET
ajtas-3215	44	22	authors	author	NOUN
ajtas-3215	44	23	conclude	conclude	VERB
ajtas-3215	44	24	that	that	SCONJ
ajtas-3215	44	25	tax	tax	NOUN
ajtas-3215	44	26	policy	policy	NOUN
ajtas-3215	44	27	factors	factor	NOUN
ajtas-3215	44	28	play	play	VERB
ajtas-3215	44	29	only	only	ADV
ajtas-3215	44	30	an	an	DET
ajtas-3215	44	31	indirect	indirect	ADJ
ajtas-3215	44	32	role	role	NOUN
ajtas-3215	44	33	in	in	ADP
ajtas-3215	44	34	investor	investor	NOUN
ajtas-3215	44	35	decisions	decision	NOUN
ajtas-3215	44	36	.	.	PUNCT
ajtas-3215	45	1	in	in	ADP
ajtas-3215	45	2	a	a	DET
ajtas-3215	45	3	ranking	ranking	NOUN
ajtas-3215	45	4	of	of	ADP
ajtas-3215	45	5	ten	ten	NUM
ajtas-3215	45	6	factors	factor	NOUN
ajtas-3215	45	7	influencing	influence	VERB
ajtas-3215	45	8	investor	investor	NOUN
ajtas-3215	45	9	decisions	decision	NOUN
ajtas-3215	45	10	,	,	PUNCT
ajtas-3215	45	11	tax	tax	NOUN
ajtas-3215	45	12	policy	policy	NOUN
ajtas-3215	45	13	ranked	rank	VERB
ajtas-3215	45	14	fourth	fourth	ADV
ajtas-3215	45	15	,	,	PUNCT
ajtas-3215	45	16	after	after	ADP
ajtas-3215	45	17	macroeconomics	macroeconomic	NOUN
ajtas-3215	45	18	,	,	PUNCT
ajtas-3215	45	19	labor	labor	NOUN
ajtas-3215	45	20	legislation	legislation	NOUN
ajtas-3215	45	21	,	,	PUNCT
ajtas-3215	45	22	and	and	CCONJ
ajtas-3215	45	23	transportation	transportation	NOUN
ajtas-3215	45	24	costs	cost	NOUN
ajtas-3215	45	25	[	[	X
ajtas-3215	45	26	6	6	NUM
ajtas-3215	45	27	]	]	PUNCT
ajtas-3215	45	28	.	.	PUNCT
ajtas-3215	46	1	petrushkevich	petrushkevich	PROPN
ajtas-3215	46	2	e.	e.	PROPN
ajtas-3215	46	3	developing	develop	VERB
ajtas-3215	46	4	countries	country	NOUN
ajtas-3215	46	5	(	(	PUNCT
ajtas-3215	46	6	general	general	ADJ
ajtas-3215	46	7	overview	overview	NOUN
ajtas-3215	46	8	)	)	PUNCT
ajtas-3215	46	9	international	international	ADJ
ajtas-3215	46	10	initiatives	initiative	NOUN
ajtas-3215	46	11	,	,	PUNCT
ajtas-3215	46	12	transparency	transparency	NOUN
ajtas-3215	46	13	,	,	PUNCT
ajtas-3215	46	14	and	and	CCONJ
ajtas-3215	46	15	standards	standard	NOUN
ajtas-3215	46	16	of	of	ADP
ajtas-3215	46	17	responsibility	responsibility	NOUN
ajtas-3215	46	18	for	for	ADP
ajtas-3215	46	19	transnational	transnational	ADJ
ajtas-3215	46	20	companies	company	NOUN
ajtas-3215	46	21	it	it	PRON
ajtas-3215	46	22	is	be	AUX
ajtas-3215	46	23	emphasized	emphasize	VERB
ajtas-3215	46	24	that	that	SCONJ
ajtas-3215	46	25	fdi	fdi	NOUN
ajtas-3215	46	26	,	,	PUNCT
ajtas-3215	46	27	particularly	particularly	ADV
ajtas-3215	46	28	in	in	ADP
ajtas-3215	46	29	labor	labor	NOUN
ajtas-3215	46	30	-	-	PUNCT
ajtas-3215	46	31	intensive	intensive	ADJ
ajtas-3215	46	32	and	and	CCONJ
ajtas-3215	46	33	extractive	extractive	ADJ
ajtas-3215	46	34	industries	industry	NOUN
ajtas-3215	46	35	,	,	PUNCT
ajtas-3215	46	36	can	can	AUX
ajtas-3215	46	37	have	have	VERB
ajtas-3215	46	38	negative	negative	ADJ
ajtas-3215	46	39	effects	effect	NOUN
ajtas-3215	46	40	,	,	PUNCT
ajtas-3215	46	41	including	include	VERB
ajtas-3215	46	42	low	low	ADJ
ajtas-3215	46	43	transparency	transparency	NOUN
ajtas-3215	46	44	and	and	CCONJ
ajtas-3215	46	45	weak	weak	ADJ
ajtas-3215	46	46	social	social	ADJ
ajtas-3215	46	47	responsibility	responsibility	NOUN
ajtas-3215	46	48	among	among	ADP
ajtas-3215	46	49	tncs	tnc	NOUN
ajtas-3215	46	50	.	.	PUNCT
ajtas-3215	47	1	the	the	DET
ajtas-3215	47	2	authors	author	NOUN
ajtas-3215	47	3	note	note	VERB
ajtas-3215	47	4	the	the	DET
ajtas-3215	47	5	role	role	NOUN
ajtas-3215	47	6	of	of	ADP
ajtas-3215	47	7	international	international	ADJ
ajtas-3215	47	8	initiatives	initiative	NOUN
ajtas-3215	47	9	(	(	PUNCT
ajtas-3215	47	10	for	for	ADP
ajtas-3215	47	11	example	example	NOUN
ajtas-3215	47	12	,	,	PUNCT
ajtas-3215	47	13	within	within	ADP
ajtas-3215	47	14	the	the	DET
ajtas-3215	47	15	un	un	PROPN
ajtas-3215	47	16	and	and	CCONJ
ajtas-3215	47	17	other	other	ADJ
ajtas-3215	47	18	organizations	organization	NOUN
ajtas-3215	47	19	)	)	PUNCT
ajtas-3215	47	20	in	in	ADP
ajtas-3215	47	21	minimizing	minimize	VERB
ajtas-3215	47	22	these	these	DET
ajtas-3215	47	23	risks	risk	NOUN
ajtas-3215	47	24	[	[	X
ajtas-3215	47	25	8	8	NUM
ajtas-3215	47	26	]	]	PUNCT
ajtas-3215	47	27	.	.	PUNCT
ajtas-3215	48	1	imf	imf	PROPN
ajtas-3215	48	2	blog	blog	PROPN
ajtas-3215	48	3	(	(	PUNCT
ajtas-3215	48	4	ahn	ahn	PROPN
ajtas-3215	48	5	,	,	PUNCT
ajtas-3215	48	6	habib	habib	PROPN
ajtas-3215	48	7	,	,	PUNCT
ajtas-3215	48	8	presbitero	presbitero	NOUN
ajtas-3215	48	9	and	and	CCONJ
ajtas-3215	48	10	etc	etc	X
ajtas-3215	48	11	.	.	X
ajtas-3215	48	12	)	)	PUNCT
ajtas-3215	49	1	emerging	emerge	VERB
ajtas-3215	49	2	/	/	SYM
ajtas-3215	49	3	developin	developin	NOUN
ajtas-3215	49	4	g	g	NOUN
ajtas-3215	49	5	markets	market	NOUN
ajtas-3215	49	6	fdi	fdi	NOUN
ajtas-3215	49	7	fragmentation	fragmentation	NOUN
ajtas-3215	49	8	,	,	PUNCT
ajtas-3215	49	9	geopolitical	geopolitical	ADJ
ajtas-3215	49	10	risks	risk	NOUN
ajtas-3215	49	11	analysis	analysis	NOUN
ajtas-3215	49	12	shows	show	VERB
ajtas-3215	49	13	that	that	SCONJ
ajtas-3215	49	14	the	the	DET
ajtas-3215	49	15	growing	grow	VERB
ajtas-3215	49	16	fragmentation	fragmentation	NOUN
ajtas-3215	49	17	of	of	ADP
ajtas-3215	49	18	global	global	ADJ
ajtas-3215	49	19	supply	supply	NOUN
ajtas-3215	49	20	chains	chain	NOUN
ajtas-3215	49	21	is	be	AUX
ajtas-3215	49	22	hitting	hit	VERB
ajtas-3215	49	23	developing	develop	VERB
ajtas-3215	49	24	economies	economy	NOUN
ajtas-3215	49	25	particularly	particularly	ADV
ajtas-3215	49	26	hard	hard	ADV
ajtas-3215	49	27	.	.	PUNCT
ajtas-3215	50	1	this	this	PRON
ajtas-3215	50	2	indirectly	indirectly	ADV
ajtas-3215	50	3	impacts	impact	VERB
ajtas-3215	50	4	the	the	DET
ajtas-3215	50	5	attractiveness	attractiveness	NOUN
ajtas-3215	50	6	of	of	ADP
ajtas-3215	50	7	tax	tax	NOUN
ajtas-3215	50	8	incentives	incentive	NOUN
ajtas-3215	50	9	,	,	PUNCT
ajtas-3215	50	10	as	as	SCONJ
ajtas-3215	50	11	geopolitical	geopolitical	ADJ
ajtas-3215	50	12	risk	risk	NOUN
ajtas-3215	50	13	becomes	become	VERB
ajtas-3215	50	14	a	a	DET
ajtas-3215	50	15	more	more	ADV
ajtas-3215	50	16	important	important	ADJ
ajtas-3215	50	17	factor	factor	NOUN
ajtas-3215	50	18	than	than	ADP
ajtas-3215	50	19	low	low	ADJ
ajtas-3215	50	20	tax	tax	NOUN
ajtas-3215	50	21	rates	rate	NOUN
ajtas-3215	50	22	[	[	X
ajtas-3215	50	23	9	9	NUM
ajtas-3215	50	24	]	]	PUNCT
ajtas-3215	50	25	.	.	PUNCT
ajtas-3215	51	1	faruq	faruq	PROPN
ajtas-3215	51	2	,	,	PUNCT
ajtas-3215	51	3	atm	atm	PROPN
ajtas-3215	51	4	omor	omor	PROPN
ajtas-3215	51	5	24	24	NUM
ajtas-3215	51	6	emerging	emerge	VERB
ajtas-3215	51	7	asian	asian	ADJ
ajtas-3215	51	8	economies	economy	NOUN
ajtas-3215	51	9	(	(	PUNCT
ajtas-3215	51	10	panel	panel	NOUN
ajtas-3215	51	11	data	data	VERB
ajtas-3215	51	12	2002–2018	2002–2018	NOUN
ajtas-3215	51	13	)	)	PUNCT
ajtas-3215	51	14	economic	economic	ADJ
ajtas-3215	51	15	factors	factor	NOUN
ajtas-3215	51	16	(	(	PUNCT
ajtas-3215	51	17	gdp	gdp	NOUN
ajtas-3215	51	18	,	,	PUNCT
ajtas-3215	51	19	natural	natural	ADJ
ajtas-3215	51	20	resources	resource	NOUN
ajtas-3215	51	21	)	)	PUNCT
ajtas-3215	51	22	,	,	PUNCT
ajtas-3215	51	23	institutional	institutional	ADJ
ajtas-3215	51	24	(	(	PUNCT
ajtas-3215	51	25	legal	legal	ADJ
ajtas-3215	51	26	environment	environment	NOUN
ajtas-3215	51	27	,	,	PUNCT
ajtas-3215	51	28	information	information	NOUN
ajtas-3215	51	29	disclosure	disclosure	NOUN
ajtas-3215	51	30	)	)	PUNCT
ajtas-3215	51	31	,	,	PUNCT
ajtas-3215	51	32	political	political	ADJ
ajtas-3215	51	33	stability	stability	NOUN
ajtas-3215	51	34	the	the	DET
ajtas-3215	51	35	study	study	NOUN
ajtas-3215	51	36	shows	show	VERB
ajtas-3215	51	37	that	that	SCONJ
ajtas-3215	51	38	economic	economic	ADJ
ajtas-3215	51	39	factors	factor	NOUN
ajtas-3215	51	40	(	(	PUNCT
ajtas-3215	51	41	market	market	NOUN
ajtas-3215	51	42	size	size	NOUN
ajtas-3215	51	43	,	,	PUNCT
ajtas-3215	51	44	resources	resource	NOUN
ajtas-3215	51	45	)	)	PUNCT
ajtas-3215	51	46	have	have	VERB
ajtas-3215	51	47	a	a	DET
ajtas-3215	51	48	strong	strong	ADJ
ajtas-3215	51	49	influence	influence	NOUN
ajtas-3215	51	50	on	on	ADP
ajtas-3215	51	51	fdi	fdi	PROPN
ajtas-3215	51	52	,	,	PUNCT
ajtas-3215	51	53	and	and	CCONJ
ajtas-3215	51	54	among	among	ADP
ajtas-3215	51	55	the	the	DET
ajtas-3215	51	56	institutional	institutional	ADJ
ajtas-3215	51	57	factors	factor	NOUN
ajtas-3215	51	58	,	,	PUNCT
ajtas-3215	51	59	the	the	DET
ajtas-3215	51	60	most	most	ADV
ajtas-3215	51	61	significant	significant	ADJ
ajtas-3215	51	62	is	be	AUX
ajtas-3215	51	63	the	the	DET
ajtas-3215	51	64	business	business	NOUN
ajtas-3215	51	65	disclosure	disclosure	NOUN
ajtas-3215	51	66	index	index	NOUN
ajtas-3215	51	67	,	,	PUNCT
ajtas-3215	51	68	while	while	SCONJ
ajtas-3215	51	69	the	the	DET
ajtas-3215	51	70	tax	tax	NOUN
ajtas-3215	51	71	rate	rate	NOUN
ajtas-3215	51	72	(	(	PUNCT
ajtas-3215	51	73	in	in	ADP
ajtas-3215	51	74	the	the	DET
ajtas-3215	51	75	analysis	analysis	NOUN
ajtas-3215	51	76	)	)	PUNCT
ajtas-3215	51	77	is	be	AUX
ajtas-3215	51	78	less	less	ADV
ajtas-3215	51	79	significant	significant	ADJ
ajtas-3215	51	80	compared	compare	VERB
ajtas-3215	51	81	to	to	ADP
ajtas-3215	51	82	the	the	DET
ajtas-3215	51	83	basic	basic	ADJ
ajtas-3215	51	84	economic	economic	ADJ
ajtas-3215	51	85	determinants	determinant	NOUN
ajtas-3215	52	1	[	[	X
ajtas-3215	52	2	10	10	NUM
ajtas-3215	52	3	]	]	PUNCT
ajtas-3215	52	4	.	.	PUNCT
ajtas-3215	53	1	thus	thus	ADV
ajtas-3215	53	2	,	,	PUNCT
ajtas-3215	53	3	empirical	empirical	ADJ
ajtas-3215	53	4	studies	study	NOUN
ajtas-3215	53	5	confirm	confirm	VERB
ajtas-3215	53	6	that	that	SCONJ
ajtas-3215	53	7	tax	tax	NOUN
ajtas-3215	53	8	policy	policy	NOUN
ajtas-3215	53	9	influences	influence	VERB
ajtas-3215	53	10	fdi	fdi	NOUN
ajtas-3215	53	11	flows	flow	VERB
ajtas-3215	53	12	,	,	PUNCT
ajtas-3215	53	13	but	but	CCONJ
ajtas-3215	53	14	its	its	PRON
ajtas-3215	53	15	effectiveness	effectiveness	NOUN
ajtas-3215	53	16	significantly	significantly	ADV
ajtas-3215	53	17	depends	depend	VERB
ajtas-3215	53	18	on	on	ADP
ajtas-3215	53	19	the	the	DET
ajtas-3215	53	20	institutional	institutional	ADJ
ajtas-3215	53	21	environment	environment	NOUN
ajtas-3215	53	22	,	,	PUNCT
ajtas-3215	53	23	transparency	transparency	NOUN
ajtas-3215	53	24	,	,	PUNCT
ajtas-3215	53	25	geopolitical	geopolitical	ADJ
ajtas-3215	53	26	risks	risk	NOUN
ajtas-3215	53	27	and	and	CCONJ
ajtas-3215	53	28	economic	economic	ADJ
ajtas-3215	53	29	structure	structure	NOUN
ajtas-3215	53	30	,	,	PUNCT
ajtas-3215	53	31	which	which	PRON
ajtas-3215	53	32	highlights	highlight	VERB
ajtas-3215	53	33	the	the	DET
ajtas-3215	53	34	need	need	NOUN
ajtas-3215	53	35	for	for	ADP
ajtas-3215	53	36	a	a	DET
ajtas-3215	53	37	comprehensive	comprehensive	ADJ
ajtas-3215	53	38	approach	approach	NOUN
ajtas-3215	53	39	to	to	ADP
ajtas-3215	53	40	tax	tax	NOUN
ajtas-3215	53	41	strategy	strategy	NOUN
ajtas-3215	53	42	formulation	formulation	NOUN
ajtas-3215	53	43	in	in	ADP
ajtas-3215	53	44	developing	develop	VERB
ajtas-3215	53	45	countries	country	NOUN
ajtas-3215	53	46	.	.	PUNCT
ajtas-3215	54	1	a	a	DET
ajtas-3215	54	2	discussion	discussion	NOUN
ajtas-3215	54	3	of	of	ADP
ajtas-3215	54	4	empirical	empirical	ADJ
ajtas-3215	54	5	and	and	CCONJ
ajtas-3215	54	6	theoretical	theoretical	ADJ
ajtas-3215	54	7	evidence	evidence	NOUN
ajtas-3215	54	8	shows	show	VERB
ajtas-3215	54	9	that	that	SCONJ
ajtas-3215	54	10	tax	tax	NOUN
ajtas-3215	54	11	policy	policy	NOUN
ajtas-3215	54	12	is	be	AUX
ajtas-3215	54	13	an	an	DET
ajtas-3215	54	14	important	important	ADJ
ajtas-3215	54	15	tool	tool	NOUN
ajtas-3215	54	16	for	for	ADP
ajtas-3215	54	17	shaping	shape	VERB
ajtas-3215	54	18	the	the	DET
ajtas-3215	54	19	investment	investment	NOUN
ajtas-3215	54	20	climate	climate	NOUN
ajtas-3215	54	21	in	in	ADP
ajtas-3215	54	22	developing	develop	VERB
ajtas-3215	54	23	countries	country	NOUN
ajtas-3215	54	24	,	,	PUNCT
ajtas-3215	54	25	but	but	CCONJ
ajtas-3215	54	26	its	its	PRON
ajtas-3215	54	27	effectiveness	effectiveness	NOUN
ajtas-3215	54	28	depends	depend	VERB
ajtas-3215	54	29	on	on	ADP
ajtas-3215	54	30	the	the	DET
ajtas-3215	54	31	quality	quality	NOUN
ajtas-3215	54	32	of	of	ADP
ajtas-3215	54	33	the	the	DET
ajtas-3215	54	34	institutional	institutional	ADJ
ajtas-3215	54	35	environment	environment	NOUN
ajtas-3215	54	36	,	,	PUNCT
ajtas-3215	54	37	transparency	transparency	NOUN
ajtas-3215	54	38	,	,	PUNCT
ajtas-3215	54	39	international	international	ADJ
ajtas-3215	54	40	coordination	coordination	NOUN
ajtas-3215	54	41	,	,	PUNCT
ajtas-3215	54	42	and	and	CCONJ
ajtas-3215	54	43	socio	socio	NOUN
ajtas-3215	54	44	-	-	PUNCT
ajtas-3215	54	45	environmental	environmental	ADJ
ajtas-3215	54	46	factors	factor	NOUN
ajtas-3215	54	47	:	:	PUNCT
ajtas-3215	54	48	1	1	X
ajtas-3215	54	49	.	.	PUNCT
ajtas-3215	54	50	tax	tax	NOUN
ajtas-3215	54	51	competition	competition	NOUN
ajtas-3215	54	52	and	and	CCONJ
ajtas-3215	54	53	the	the	DET
ajtas-3215	54	54	risk	risk	NOUN
ajtas-3215	54	55	of	of	ADP
ajtas-3215	54	56	a	a	DET
ajtas-3215	54	57	"	"	PUNCT
ajtas-3215	54	58	race	race	NOUN
ajtas-3215	54	59	to	to	ADP
ajtas-3215	54	60	the	the	DET
ajtas-3215	54	61	bottom	bottom	NOUN
ajtas-3215	54	62	.	.	PUNCT
ajtas-3215	54	63	"	"	PUNCT
ajtas-3215	55	1	developing	develop	VERB
ajtas-3215	55	2	countries	country	NOUN
ajtas-3215	55	3	,	,	PUNCT
ajtas-3215	55	4	seeking	seek	VERB
ajtas-3215	55	5	to	to	PART
ajtas-3215	55	6	attract	attract	VERB
ajtas-3215	55	7	fdi	fdi	NOUN
ajtas-3215	55	8	,	,	PUNCT
ajtas-3215	55	9	often	often	ADV
ajtas-3215	55	10	reduce	reduce	VERB
ajtas-3215	55	11	tax	tax	NOUN
ajtas-3215	55	12	rates	rate	NOUN
ajtas-3215	55	13	or	or	CCONJ
ajtas-3215	55	14	provide	provide	VERB
ajtas-3215	55	15	incentives	incentive	NOUN
ajtas-3215	55	16	.	.	PUNCT
ajtas-3215	56	1	however	however	ADV
ajtas-3215	56	2	,	,	PUNCT
ajtas-3215	56	3	this	this	DET
ajtas-3215	56	4	behavior	behavior	NOUN
ajtas-3215	56	5	can	can	AUX
ajtas-3215	56	6	lead	lead	VERB
ajtas-3215	56	7	to	to	ADP
ajtas-3215	56	8	uncontrolled	uncontrolled	ADJ
ajtas-3215	56	9	tax	tax	NOUN
ajtas-3215	56	10	competition	competition	NOUN
ajtas-3215	56	11	,	,	PUNCT
ajtas-3215	56	12	undermining	undermine	VERB
ajtas-3215	56	13	long	long	ADJ
ajtas-3215	56	14	-	-	PUNCT
ajtas-3215	56	15	term	term	NOUN
ajtas-3215	56	16	budget	budget	NOUN
ajtas-3215	56	17	revenues	revenue	NOUN
ajtas-3215	56	18	.	.	PUNCT
ajtas-3215	57	1	the	the	DET
ajtas-3215	57	2	imf	imf	PROPN
ajtas-3215	57	3	warns	warn	VERB
ajtas-3215	57	4	in	in	ADP
ajtas-3215	57	5	its	its	PRON
ajtas-3215	57	6	research	research	NOUN
ajtas-3215	57	7	that	that	SCONJ
ajtas-3215	57	8	competition	competition	NOUN
ajtas-3215	57	9	for	for	ADP
ajtas-3215	57	10	lower	low	ADJ
ajtas-3215	57	11	corporate	corporate	ADJ
ajtas-3215	57	12	taxes	taxis	NOUN
ajtas-3215	57	13	reduces	reduce	VERB
ajtas-3215	57	14	global	global	ADJ
ajtas-3215	57	15	tax	tax	NOUN
ajtas-3215	57	16	revenues	revenue	NOUN
ajtas-3215	57	17	,	,	PUNCT
ajtas-3215	57	18	and	and	CCONJ
ajtas-3215	57	19	one	one	NUM
ajtas-3215	57	20	way	way	NOUN
ajtas-3215	57	21	to	to	PART
ajtas-3215	57	22	mitigate	mitigate	VERB
ajtas-3215	57	23	this	this	PRON
ajtas-3215	57	24	is	be	AUX
ajtas-3215	57	25	to	to	PART
ajtas-3215	57	26	introduce	introduce	VERB
ajtas-3215	57	27	a	a	DET
ajtas-3215	57	28	global	global	ADJ
ajtas-3215	57	29	minimum	minimum	ADJ
ajtas-3215	57	30	tax	tax	NOUN
ajtas-3215	57	31	(	(	PUNCT
ajtas-3215	57	32	e.g.	e.g.	ADV
ajtas-3215	57	33	,	,	PUNCT
ajtas-3215	57	34	15	15	NUM
ajtas-3215	57	35	%	%	NOUN
ajtas-3215	57	36	)	)	PUNCT
ajtas-3215	57	37	for	for	ADP
ajtas-3215	57	38	multinational	multinational	ADJ
ajtas-3215	57	39	corporations	corporation	NOUN
ajtas-3215	57	40	[	[	X
ajtas-3215	57	41	4	4	NUM
ajtas-3215	57	42	]	]	PUNCT
ajtas-3215	57	43	.	.	PUNCT
ajtas-3215	58	1	at	at	ADP
ajtas-3215	58	2	the	the	DET
ajtas-3215	58	3	same	same	ADJ
ajtas-3215	58	4	time	time	NOUN
ajtas-3215	58	5	,	,	PUNCT
ajtas-3215	58	6	as	as	SCONJ
ajtas-3215	58	7	noted	note	VERB
ajtas-3215	58	8	in	in	ADP
ajtas-3215	58	9	an	an	DET
ajtas-3215	58	10	american	american	ADJ
ajtas-3215	58	11	journal	journal	NOUN
ajtas-3215	58	12	of	of	ADP
ajtas-3215	58	13	technology	technology	NOUN
ajtas-3215	58	14	and	and	CCONJ
ajtas-3215	58	15	applied	apply	VERB
ajtas-3215	58	16	sciences	science	NOUN
ajtas-3215	58	17	43	43	NUM
ajtas-3215	58	18	,	,	PUNCT
ajtas-3215	58	19	december	december	PROPN
ajtas-3215	58	20	2025	2025	NUM
ajtas-3215	58	21	p	p	NOUN
ajtas-3215	58	22	a	a	DET
ajtas-3215	58	23	g	g	NOUN
ajtas-3215	58	24	e	e	NOUN
ajtas-3215	58	25	|	|	ADV
ajtas-3215	58	26	47	47	NUM
ajtas-3215	58	27	www.americanjournal.org	www.americanjournal.org	NOUN
ajtas-3215	58	28	earlier	early	ADV
ajtas-3215	58	29	imf	imf	PROPN
ajtas-3215	58	30	report	report	NOUN
ajtas-3215	58	31	,	,	PUNCT
ajtas-3215	58	32	it	it	PRON
ajtas-3215	58	33	is	be	AUX
ajtas-3215	58	34	important	important	ADJ
ajtas-3215	58	35	to	to	PART
ajtas-3215	58	36	minimize	minimize	VERB
ajtas-3215	58	37	indirect	indirect	ADJ
ajtas-3215	58	38	tax	tax	NOUN
ajtas-3215	58	39	incentives	incentive	NOUN
ajtas-3215	58	40	and	and	CCONJ
ajtas-3215	58	41	tax	tax	NOUN
ajtas-3215	58	42	holidays	holiday	NOUN
ajtas-3215	58	43	,	,	PUNCT
ajtas-3215	58	44	as	as	SCONJ
ajtas-3215	58	45	they	they	PRON
ajtas-3215	58	46	often	often	ADV
ajtas-3215	58	47	prove	prove	VERB
ajtas-3215	58	48	ineffective	ineffective	ADJ
ajtas-3215	58	49	and	and	CCONJ
ajtas-3215	58	50	are	be	AUX
ajtas-3215	58	51	subject	subject	ADJ
ajtas-3215	58	52	to	to	ADP
ajtas-3215	58	53	abuse	abuse	NOUN
ajtas-3215	58	54	.	.	PUNCT
ajtas-3215	59	1	thus	thus	ADV
ajtas-3215	59	2	,	,	PUNCT
ajtas-3215	59	3	tax	tax	NOUN
ajtas-3215	59	4	competition	competition	NOUN
ajtas-3215	59	5	policies	policy	NOUN
ajtas-3215	59	6	must	must	AUX
ajtas-3215	59	7	be	be	AUX
ajtas-3215	59	8	balanced	balanced	ADJ
ajtas-3215	59	9	:	:	PUNCT
ajtas-3215	59	10	aggressive	aggressive	ADJ
ajtas-3215	59	11	incentives	incentive	NOUN
ajtas-3215	59	12	can	can	AUX
ajtas-3215	59	13	attract	attract	VERB
ajtas-3215	59	14	investment	investment	NOUN
ajtas-3215	59	15	,	,	PUNCT
ajtas-3215	59	16	but	but	CCONJ
ajtas-3215	59	17	the	the	DET
ajtas-3215	59	18	risks	risk	NOUN
ajtas-3215	59	19	of	of	ADP
ajtas-3215	59	20	losing	lose	VERB
ajtas-3215	59	21	the	the	DET
ajtas-3215	59	22	tax	tax	NOUN
ajtas-3215	59	23	base	base	NOUN
ajtas-3215	59	24	and	and	CCONJ
ajtas-3215	59	25	fiscal	fiscal	ADJ
ajtas-3215	59	26	sustainability	sustainability	NOUN
ajtas-3215	59	27	are	be	AUX
ajtas-3215	59	28	too	too	ADV
ajtas-3215	59	29	great	great	ADJ
ajtas-3215	59	30	.	.	PUNCT
ajtas-3215	60	1	2	2	X
ajtas-3215	60	2	.	.	X
ajtas-3215	60	3	the	the	DET
ajtas-3215	60	4	role	role	NOUN
ajtas-3215	60	5	of	of	ADP
ajtas-3215	60	6	institutional	institutional	ADJ
ajtas-3215	60	7	quality	quality	NOUN
ajtas-3215	60	8	.	.	PUNCT
ajtas-3215	61	1	empirical	empirical	ADJ
ajtas-3215	61	2	evidence	evidence	NOUN
ajtas-3215	61	3	suggests	suggest	VERB
ajtas-3215	61	4	that	that	SCONJ
ajtas-3215	61	5	not	not	PART
ajtas-3215	61	6	only	only	ADV
ajtas-3215	61	7	the	the	DET
ajtas-3215	61	8	tax	tax	NOUN
ajtas-3215	61	9	rate	rate	NOUN
ajtas-3215	61	10	but	but	CCONJ
ajtas-3215	61	11	also	also	ADV
ajtas-3215	61	12	the	the	DET
ajtas-3215	61	13	institutional	institutional	ADJ
ajtas-3215	61	14	environment	environment	NOUN
ajtas-3215	61	15	(	(	PUNCT
ajtas-3215	61	16	governance	governance	NOUN
ajtas-3215	61	17	,	,	PUNCT
ajtas-3215	61	18	legal	legal	ADJ
ajtas-3215	61	19	effectiveness	effectiveness	NOUN
ajtas-3215	61	20	,	,	PUNCT
ajtas-3215	61	21	transparency	transparency	NOUN
ajtas-3215	61	22	)	)	PUNCT
ajtas-3215	61	23	are	be	AUX
ajtas-3215	61	24	critical	critical	ADJ
ajtas-3215	61	25	.	.	PUNCT
ajtas-3215	62	1	for	for	ADP
ajtas-3215	62	2	example	example	NOUN
ajtas-3215	62	3	,	,	PUNCT
ajtas-3215	62	4	studies	study	NOUN
ajtas-3215	62	5	of	of	ADP
ajtas-3215	62	6	developing	develop	VERB
ajtas-3215	62	7	countries	country	NOUN
ajtas-3215	62	8	show	show	VERB
ajtas-3215	62	9	that	that	SCONJ
ajtas-3215	62	10	institutional	institutional	ADJ
ajtas-3215	62	11	factors	factor	NOUN
ajtas-3215	62	12	(	(	PUNCT
ajtas-3215	62	13	including	include	VERB
ajtas-3215	62	14	the	the	DET
ajtas-3215	62	15	business	business	NOUN
ajtas-3215	62	16	disclosure	disclosure	NOUN
ajtas-3215	62	17	index	index	NOUN
ajtas-3215	62	18	)	)	PUNCT
ajtas-3215	62	19	significantly	significantly	ADV
ajtas-3215	62	20	influence	influence	VERB
ajtas-3215	62	21	fdi	fdi	NOUN
ajtas-3215	62	22	attraction	attraction	NOUN
ajtas-3215	62	23	[	[	X
ajtas-3215	62	24	10	10	NUM
ajtas-3215	62	25	]	]	PUNCT
ajtas-3215	62	26	.	.	PUNCT
ajtas-3215	63	1	this	this	PRON
ajtas-3215	63	2	is	be	AUX
ajtas-3215	63	3	also	also	ADV
ajtas-3215	63	4	supported	support	VERB
ajtas-3215	63	5	by	by	ADP
ajtas-3215	63	6	the	the	DET
ajtas-3215	63	7	literature	literature	NOUN
ajtas-3215	63	8	that	that	PRON
ajtas-3215	63	9	examines	examine	VERB
ajtas-3215	63	10	the	the	DET
ajtas-3215	63	11	broader	broad	ADJ
ajtas-3215	63	12	risks	risk	NOUN
ajtas-3215	63	13	of	of	ADP
ajtas-3215	63	14	fdi	fdi	NOUN
ajtas-3215	63	15	:	:	PUNCT
ajtas-3215	63	16	multinational	multinational	ADJ
ajtas-3215	63	17	companies	company	NOUN
ajtas-3215	63	18	in	in	ADP
ajtas-3215	63	19	developing	develop	VERB
ajtas-3215	63	20	countries	country	NOUN
ajtas-3215	63	21	can	can	AUX
ajtas-3215	63	22	create	create	VERB
ajtas-3215	63	23	negative	negative	ADJ
ajtas-3215	63	24	externalities	externality	NOUN
ajtas-3215	63	25	(	(	PUNCT
ajtas-3215	63	26	environmental	environmental	ADJ
ajtas-3215	63	27	,	,	PUNCT
ajtas-3215	63	28	social	social	ADJ
ajtas-3215	63	29	)	)	PUNCT
ajtas-3215	63	30	,	,	PUNCT
ajtas-3215	63	31	especially	especially	ADV
ajtas-3215	63	32	if	if	SCONJ
ajtas-3215	63	33	the	the	DET
ajtas-3215	63	34	legal	legal	ADJ
ajtas-3215	63	35	system	system	NOUN
ajtas-3215	63	36	is	be	AUX
ajtas-3215	63	37	weak	weak	ADJ
ajtas-3215	64	1	[	[	X
ajtas-3215	64	2	8	8	NUM
ajtas-3215	64	3	]	]	PUNCT
ajtas-3215	64	4	.	.	PUNCT
ajtas-3215	65	1	therefore	therefore	ADV
ajtas-3215	65	2	,	,	PUNCT
ajtas-3215	65	3	tax	tax	NOUN
ajtas-3215	65	4	policy	policy	NOUN
ajtas-3215	65	5	should	should	AUX
ajtas-3215	65	6	be	be	AUX
ajtas-3215	65	7	accompanied	accompany	VERB
ajtas-3215	65	8	by	by	ADP
ajtas-3215	65	9	institutional	institutional	ADJ
ajtas-3215	65	10	reforms	reform	NOUN
ajtas-3215	65	11	:	:	PUNCT
ajtas-3215	65	12	strengthening	strengthen	VERB
ajtas-3215	65	13	governance	governance	NOUN
ajtas-3215	65	14	,	,	PUNCT
ajtas-3215	65	15	improving	improve	VERB
ajtas-3215	65	16	transparency	transparency	NOUN
ajtas-3215	65	17	,	,	PUNCT
ajtas-3215	65	18	and	and	CCONJ
ajtas-3215	65	19	enhancing	enhance	VERB
ajtas-3215	65	20	accountability	accountability	NOUN
ajtas-3215	65	21	mechanisms	mechanism	NOUN
ajtas-3215	65	22	for	for	ADP
ajtas-3215	65	23	investors	investor	NOUN
ajtas-3215	65	24	.	.	PUNCT
ajtas-3215	66	1	3	3	X
ajtas-3215	66	2	.	.	X
ajtas-3215	66	3	the	the	DET
ajtas-3215	66	4	need	need	NOUN
ajtas-3215	66	5	for	for	ADP
ajtas-3215	66	6	international	international	ADJ
ajtas-3215	66	7	coordination	coordination	NOUN
ajtas-3215	66	8	.	.	PUNCT
ajtas-3215	67	1	current	current	ADJ
ajtas-3215	67	2	trends	trend	NOUN
ajtas-3215	67	3	of	of	ADP
ajtas-3215	67	4	globalization	globalization	NOUN
ajtas-3215	67	5	and	and	CCONJ
ajtas-3215	67	6	capital	capital	NOUN
ajtas-3215	67	7	mobility	mobility	NOUN
ajtas-3215	67	8	increase	increase	VERB
ajtas-3215	67	9	the	the	DET
ajtas-3215	67	10	need	need	NOUN
ajtas-3215	67	11	for	for	ADP
ajtas-3215	67	12	international	international	ADJ
ajtas-3215	67	13	coordination	coordination	NOUN
ajtas-3215	67	14	of	of	ADP
ajtas-3215	67	15	tax	tax	NOUN
ajtas-3215	67	16	policies	policy	NOUN
ajtas-3215	67	17	.	.	PUNCT
ajtas-3215	68	1	the	the	DET
ajtas-3215	68	2	introduction	introduction	NOUN
ajtas-3215	68	3	of	of	ADP
ajtas-3215	68	4	a	a	DET
ajtas-3215	68	5	global	global	ADJ
ajtas-3215	68	6	minimum	minimum	ADJ
ajtas-3215	68	7	tax	tax	NOUN
ajtas-3215	68	8	,	,	PUNCT
ajtas-3215	68	9	as	as	SCONJ
ajtas-3215	68	10	proposed	propose	VERB
ajtas-3215	68	11	by	by	ADP
ajtas-3215	68	12	the	the	DET
ajtas-3215	68	13	imf	imf	PROPN
ajtas-3215	68	14	,	,	PUNCT
ajtas-3215	68	15	could	could	AUX
ajtas-3215	68	16	reduce	reduce	VERB
ajtas-3215	68	17	incentives	incentive	NOUN
ajtas-3215	68	18	for	for	ADP
ajtas-3215	68	19	base	base	NOUN
ajtas-3215	68	20	erosion	erosion	NOUN
ajtas-3215	68	21	and	and	CCONJ
ajtas-3215	68	22	mitigate	mitigate	VERB
ajtas-3215	68	23	the	the	DET
ajtas-3215	68	24	“	"	PUNCT
ajtas-3215	68	25	race	race	NOUN
ajtas-3215	68	26	to	to	ADP
ajtas-3215	68	27	the	the	DET
ajtas-3215	68	28	bottom	bottom	NOUN
ajtas-3215	68	29	”	"	PUNCT
ajtas-3215	69	1	[	[	X
ajtas-3215	69	2	4	4	NUM
ajtas-3215	69	3	]	]	PUNCT
ajtas-3215	69	4	.	.	PUNCT
ajtas-3215	70	1	revisiting	revisit	VERB
ajtas-3215	70	2	tax	tax	NOUN
ajtas-3215	70	3	treaties	treaty	NOUN
ajtas-3215	70	4	is	be	AUX
ajtas-3215	70	5	also	also	ADV
ajtas-3215	70	6	important	important	ADJ
ajtas-3215	70	7	:	:	PUNCT
ajtas-3215	70	8	research	research	NOUN
ajtas-3215	70	9	shows	show	VERB
ajtas-3215	70	10	that	that	SCONJ
ajtas-3215	70	11	double	double	ADJ
ajtas-3215	70	12	taxation	taxation	NOUN
ajtas-3215	70	13	agreements	agreement	NOUN
ajtas-3215	70	14	(	(	PUNCT
ajtas-3215	70	15	dtas	dtas	NOUN
ajtas-3215	70	16	)	)	PUNCT
ajtas-3215	70	17	do	do	AUX
ajtas-3215	70	18	indeed	indeed	ADV
ajtas-3215	70	19	promote	promote	VERB
ajtas-3215	70	20	fdi	fdi	NOUN
ajtas-3215	70	21	inflows	inflow	NOUN
ajtas-3215	70	22	to	to	ADP
ajtas-3215	70	23	developing	develop	VERB
ajtas-3215	70	24	countries	country	NOUN
ajtas-3215	70	25	,	,	PUNCT
ajtas-3215	70	26	provided	provide	VERB
ajtas-3215	70	27	that	that	SCONJ
ajtas-3215	70	28	their	their	PRON
ajtas-3215	70	29	tax	tax	NOUN
ajtas-3215	70	30	environments	environment	NOUN
ajtas-3215	70	31	(	(	PUNCT
ajtas-3215	70	32	e.g.	e.g.	ADV
ajtas-3215	70	33	,	,	PUNCT
ajtas-3215	70	34	tax	tax	NOUN
ajtas-3215	70	35	haven	haven	NOUN
ajtas-3215	70	36	status	status	NOUN
ajtas-3215	70	37	or	or	CCONJ
ajtas-3215	70	38	transfer	transfer	VERB
ajtas-3215	70	39	pricing	pricing	NOUN
ajtas-3215	70	40	rules	rule	NOUN
ajtas-3215	70	41	)	)	PUNCT
ajtas-3215	70	42	are	be	AUX
ajtas-3215	70	43	taken	take	VERB
ajtas-3215	70	44	into	into	ADP
ajtas-3215	70	45	account	account	NOUN
ajtas-3215	70	46	[	[	PUNCT
ajtas-3215	70	47	11	11	NUM
ajtas-3215	70	48	]	]	PUNCT
ajtas-3215	70	49	.	.	PUNCT
ajtas-3215	71	1	this	this	PRON
ajtas-3215	71	2	means	mean	VERB
ajtas-3215	71	3	that	that	SCONJ
ajtas-3215	71	4	preference	preference	NOUN
ajtas-3215	71	5	policies	policy	NOUN
ajtas-3215	71	6	should	should	AUX
ajtas-3215	71	7	not	not	PART
ajtas-3215	71	8	be	be	AUX
ajtas-3215	71	9	simply	simply	ADV
ajtas-3215	71	10	national	national	ADJ
ajtas-3215	71	11	,	,	PUNCT
ajtas-3215	71	12	but	but	CCONJ
ajtas-3215	71	13	part	part	NOUN
ajtas-3215	71	14	of	of	ADP
ajtas-3215	71	15	a	a	DET
ajtas-3215	71	16	global	global	ADJ
ajtas-3215	71	17	system	system	NOUN
ajtas-3215	71	18	in	in	ADP
ajtas-3215	71	19	which	which	PRON
ajtas-3215	71	20	countries	country	NOUN
ajtas-3215	71	21	coordinate	coordinate	VERB
ajtas-3215	71	22	their	their	PRON
ajtas-3215	71	23	rates	rate	NOUN
ajtas-3215	71	24	and	and	CCONJ
ajtas-3215	71	25	mechanisms	mechanism	NOUN
ajtas-3215	71	26	for	for	ADP
ajtas-3215	71	27	a	a	DET
ajtas-3215	71	28	sustainable	sustainable	ADJ
ajtas-3215	71	29	and	and	CCONJ
ajtas-3215	71	30	equitable	equitable	ADJ
ajtas-3215	71	31	distribution	distribution	NOUN
ajtas-3215	71	32	of	of	ADP
ajtas-3215	71	33	tax	tax	NOUN
ajtas-3215	71	34	benefits	benefit	NOUN
ajtas-3215	71	35	from	from	ADP
ajtas-3215	71	36	fdi	fdi	PROPN
ajtas-3215	71	37	.	.	PUNCT
ajtas-3215	72	1	4	4	X
ajtas-3215	72	2	.	.	X
ajtas-3215	72	3	social	social	ADJ
ajtas-3215	72	4	and	and	CCONJ
ajtas-3215	72	5	environmental	environmental	ADJ
ajtas-3215	72	6	impacts	impact	NOUN
ajtas-3215	72	7	of	of	ADP
ajtas-3215	72	8	fdi	fdi	NOUN
ajtas-3215	72	9	.	.	PUNCT
ajtas-3215	73	1	fdi	fdi	NOUN
ajtas-3215	73	2	does	do	AUX
ajtas-3215	73	3	not	not	PART
ajtas-3215	73	4	always	always	ADV
ajtas-3215	73	5	bring	bring	VERB
ajtas-3215	73	6	exclusively	exclusively	ADV
ajtas-3215	73	7	economic	economic	ADJ
ajtas-3215	73	8	benefits	benefit	NOUN
ajtas-3215	73	9	:	:	PUNCT
ajtas-3215	73	10	in	in	ADP
ajtas-3215	73	11	developing	develop	VERB
ajtas-3215	73	12	countries	country	NOUN
ajtas-3215	73	13	,	,	PUNCT
ajtas-3215	73	14	it	it	PRON
ajtas-3215	73	15	can	can	AUX
ajtas-3215	73	16	be	be	AUX
ajtas-3215	73	17	accompanied	accompany	VERB
ajtas-3215	73	18	by	by	ADP
ajtas-3215	73	19	the	the	DET
ajtas-3215	73	20	exploitation	exploitation	NOUN
ajtas-3215	73	21	of	of	ADP
ajtas-3215	73	22	natural	natural	ADJ
ajtas-3215	73	23	resources	resource	NOUN
ajtas-3215	73	24	,	,	PUNCT
ajtas-3215	73	25	environmental	environmental	ADJ
ajtas-3215	73	26	degradation	degradation	NOUN
ajtas-3215	73	27	,	,	PUNCT
ajtas-3215	73	28	and	and	CCONJ
ajtas-3215	73	29	weak	weak	ADJ
ajtas-3215	73	30	compliance	compliance	NOUN
ajtas-3215	73	31	with	with	ADP
ajtas-3215	73	32	social	social	ADJ
ajtas-3215	73	33	responsibility	responsibility	NOUN
ajtas-3215	73	34	standards	standard	NOUN
ajtas-3215	73	35	[	[	X
ajtas-3215	73	36	8	8	NUM
ajtas-3215	73	37	]	]	PUNCT
ajtas-3215	73	38	.	.	PUNCT
ajtas-3215	74	1	therefore	therefore	ADV
ajtas-3215	74	2	,	,	PUNCT
ajtas-3215	74	3	tax	tax	NOUN
ajtas-3215	74	4	policy	policy	NOUN
ajtas-3215	74	5	can	can	AUX
ajtas-3215	74	6	not	not	PART
ajtas-3215	74	7	be	be	AUX
ajtas-3215	74	8	the	the	DET
ajtas-3215	74	9	only	only	ADJ
ajtas-3215	74	10	instrument	instrument	NOUN
ajtas-3215	74	11	:	:	PUNCT
ajtas-3215	74	12	a	a	DET
ajtas-3215	74	13	combination	combination	NOUN
ajtas-3215	74	14	of	of	ADP
ajtas-3215	74	15	fiscal	fiscal	ADJ
ajtas-3215	74	16	incentives	incentive	NOUN
ajtas-3215	74	17	and	and	CCONJ
ajtas-3215	74	18	regulatory	regulatory	ADJ
ajtas-3215	74	19	measures	measure	NOUN
ajtas-3215	74	20	is	be	AUX
ajtas-3215	74	21	required	require	VERB
ajtas-3215	74	22	to	to	PART
ajtas-3215	74	23	ensure	ensure	VERB
ajtas-3215	74	24	sustainable	sustainable	ADJ
ajtas-3215	74	25	development	development	NOUN
ajtas-3215	74	26	.	.	PUNCT
ajtas-3215	75	1	this	this	PRON
ajtas-3215	75	2	may	may	AUX
ajtas-3215	75	3	include	include	VERB
ajtas-3215	75	4	obligations	obligation	NOUN
ajtas-3215	75	5	for	for	SCONJ
ajtas-3215	75	6	investors	investor	NOUN
ajtas-3215	75	7	to	to	PART
ajtas-3215	75	8	comply	comply	VERB
ajtas-3215	75	9	with	with	ADP
ajtas-3215	75	10	environmental	environmental	ADJ
ajtas-3215	75	11	standards	standard	NOUN
ajtas-3215	75	12	,	,	PUNCT
ajtas-3215	75	13	social	social	ADJ
ajtas-3215	75	14	obligations	obligation	NOUN
ajtas-3215	75	15	,	,	PUNCT
ajtas-3215	75	16	or	or	CCONJ
ajtas-3215	75	17	conduct	conduct	VERB
ajtas-3215	75	18	impact	impact	NOUN
ajtas-3215	75	19	assessments	assessment	NOUN
ajtas-3215	75	20	on	on	ADP
ajtas-3215	75	21	local	local	ADJ
ajtas-3215	75	22	communities	community	NOUN
ajtas-3215	75	23	.	.	PUNCT
ajtas-3215	76	1	5	5	X
ajtas-3215	76	2	.	.	X
ajtas-3215	76	3	the	the	DET
ajtas-3215	76	4	political	political	ADJ
ajtas-3215	76	5	feasibility	feasibility	NOUN
ajtas-3215	76	6	of	of	ADP
ajtas-3215	76	7	reforms	reform	NOUN
ajtas-3215	76	8	in	in	ADP
ajtas-3215	76	9	the	the	DET
ajtas-3215	76	10	context	context	NOUN
ajtas-3215	76	11	of	of	ADP
ajtas-3215	76	12	developing	develop	VERB
ajtas-3215	76	13	countries	country	NOUN
ajtas-3215	76	14	.	.	PUNCT
ajtas-3215	77	1	in	in	ADP
ajtas-3215	77	2	low	low	ADJ
ajtas-3215	77	3	-	-	PUNCT
ajtas-3215	77	4	income	income	NOUN
ajtas-3215	77	5	countries	country	NOUN
ajtas-3215	77	6	with	with	ADP
ajtas-3215	77	7	weak	weak	ADJ
ajtas-3215	77	8	administration	administration	NOUN
ajtas-3215	77	9	,	,	PUNCT
ajtas-3215	77	10	tax	tax	NOUN
ajtas-3215	77	11	incentives	incentive	NOUN
ajtas-3215	77	12	can	can	AUX
ajtas-3215	77	13	be	be	AUX
ajtas-3215	77	14	an	an	DET
ajtas-3215	77	15	important	important	ADJ
ajtas-3215	77	16	motivator	motivator	NOUN
ajtas-3215	77	17	for	for	ADP
ajtas-3215	77	18	investors	investor	NOUN
ajtas-3215	77	19	.	.	PUNCT
ajtas-3215	78	1	however	however	ADV
ajtas-3215	78	2	,	,	PUNCT
ajtas-3215	78	3	as	as	SCONJ
ajtas-3215	78	4	the	the	DET
ajtas-3215	78	5	imf	imf	PROPN
ajtas-3215	78	6	emphasizes	emphasize	VERB
ajtas-3215	78	7	,	,	PUNCT
ajtas-3215	78	8	such	such	ADJ
ajtas-3215	78	9	countries	country	NOUN
ajtas-3215	78	10	must	must	AUX
ajtas-3215	78	11	also	also	ADV
ajtas-3215	78	12	work	work	VERB
ajtas-3215	78	13	to	to	PART
ajtas-3215	78	14	strengthen	strengthen	VERB
ajtas-3215	78	15	the	the	DET
ajtas-3215	78	16	tax	tax	NOUN
ajtas-3215	78	17	base	base	NOUN
ajtas-3215	78	18	:	:	PUNCT
ajtas-3215	78	19	limit	limit	VERB
ajtas-3215	78	20	discretionary	discretionary	ADJ
ajtas-3215	78	21	exemptions	exemption	NOUN
ajtas-3215	78	22	,	,	PUNCT
ajtas-3215	78	23	improve	improve	VERB
ajtas-3215	78	24	budget	budget	NOUN
ajtas-3215	78	25	forecasting	forecasting	NOUN
ajtas-3215	78	26	,	,	PUNCT
ajtas-3215	78	27	and	and	CCONJ
ajtas-3215	78	28	enhance	enhance	VERB
ajtas-3215	78	29	transparency	transparency	NOUN
ajtas-3215	78	30	.	.	PUNCT
ajtas-3215	79	1	furthermore	furthermore	ADV
ajtas-3215	79	2	,	,	PUNCT
ajtas-3215	79	3	to	to	PART
ajtas-3215	79	4	sustainably	sustainably	ADV
ajtas-3215	79	5	attract	attract	VERB
ajtas-3215	79	6	investment	investment	NOUN
ajtas-3215	79	7	,	,	PUNCT
ajtas-3215	79	8	incentives	incentive	NOUN
ajtas-3215	79	9	must	must	AUX
ajtas-3215	79	10	not	not	PART
ajtas-3215	79	11	be	be	AUX
ajtas-3215	79	12	the	the	DET
ajtas-3215	79	13	only	only	ADJ
ajtas-3215	79	14	tool	tool	NOUN
ajtas-3215	79	15	:	:	PUNCT
ajtas-3215	79	16	reforms	reform	NOUN
ajtas-3215	79	17	must	must	AUX
ajtas-3215	79	18	include	include	VERB
ajtas-3215	79	19	improving	improve	VERB
ajtas-3215	79	20	infrastructure	infrastructure	NOUN
ajtas-3215	79	21	,	,	PUNCT
ajtas-3215	79	22	enhancing	enhance	VERB
ajtas-3215	79	23	human	human	ADJ
ajtas-3215	79	24	capital	capital	NOUN
ajtas-3215	79	25	,	,	PUNCT
ajtas-3215	79	26	combating	combat	VERB
ajtas-3215	79	27	corruption	corruption	NOUN
ajtas-3215	79	28	,	,	PUNCT
ajtas-3215	79	29	and	and	CCONJ
ajtas-3215	79	30	strengthening	strengthen	VERB
ajtas-3215	79	31	legal	legal	ADJ
ajtas-3215	79	32	protection	protection	NOUN
ajtas-3215	79	33	for	for	ADP
ajtas-3215	79	34	investors	investor	NOUN
ajtas-3215	79	35	.	.	PUNCT
ajtas-3215	80	1	based	base	VERB
ajtas-3215	80	2	on	on	ADP
ajtas-3215	80	3	the	the	DET
ajtas-3215	80	4	analysis	analysis	NOUN
ajtas-3215	80	5	conducted	conduct	VERB
ajtas-3215	80	6	,	,	PUNCT
ajtas-3215	80	7	the	the	DET
ajtas-3215	80	8	following	follow	VERB
ajtas-3215	80	9	recommendations	recommendation	NOUN
ajtas-3215	80	10	can	can	AUX
ajtas-3215	80	11	be	be	AUX
ajtas-3215	80	12	identified	identify	VERB
ajtas-3215	80	13	:	:	PUNCT
ajtas-3215	80	14	1	1	X
ajtas-3215	80	15	.	.	NUM
ajtas-3215	80	16	targeted	target	VERB
ajtas-3215	80	17	tax	tax	NOUN
ajtas-3215	80	18	incentives	incentive	NOUN
ajtas-3215	80	19	:	:	PUNCT
ajtas-3215	80	20	provide	provide	VERB
ajtas-3215	80	21	incentives	incentive	NOUN
ajtas-3215	80	22	only	only	ADV
ajtas-3215	80	23	for	for	ADP
ajtas-3215	80	24	investments	investment	NOUN
ajtas-3215	80	25	with	with	ADP
ajtas-3215	80	26	high	high	ADJ
ajtas-3215	80	27	added	add	VERB
ajtas-3215	80	28	value	value	NOUN
ajtas-3215	80	29	and	and	CCONJ
ajtas-3215	80	30	socioeconomic	socioeconomic	ADJ
ajtas-3215	80	31	benefits	benefit	NOUN
ajtas-3215	80	32	.	.	PUNCT
ajtas-3215	81	1	2	2	X
ajtas-3215	81	2	.	.	X
ajtas-3215	81	3	strengthening	strengthen	VERB
ajtas-3215	81	4	tax	tax	NOUN
ajtas-3215	81	5	administration	administration	NOUN
ajtas-3215	81	6	:	:	PUNCT
ajtas-3215	81	7	increasing	increase	VERB
ajtas-3215	81	8	transparency	transparency	NOUN
ajtas-3215	81	9	,	,	PUNCT
ajtas-3215	81	10	reducing	reduce	VERB
ajtas-3215	81	11	bureaucratic	bureaucratic	ADJ
ajtas-3215	81	12	barriers	barrier	NOUN
ajtas-3215	81	13	and	and	CCONJ
ajtas-3215	81	14	combating	combat	VERB
ajtas-3215	81	15	tax	tax	NOUN
ajtas-3215	81	16	evasion	evasion	NOUN
ajtas-3215	81	17	.	.	PUNCT
ajtas-3215	82	1	3	3	X
ajtas-3215	82	2	.	.	X
ajtas-3215	82	3	monitoring	monitor	VERB
ajtas-3215	82	4	the	the	DET
ajtas-3215	82	5	effectiveness	effectiveness	NOUN
ajtas-3215	82	6	of	of	ADP
ajtas-3215	82	7	tax	tax	NOUN
ajtas-3215	82	8	policy	policy	NOUN
ajtas-3215	82	9	:	:	PUNCT
ajtas-3215	82	10	regularly	regularly	ADV
ajtas-3215	82	11	assess	assess	VERB
ajtas-3215	82	12	the	the	DET
ajtas-3215	82	13	impact	impact	NOUN
ajtas-3215	82	14	of	of	ADP
ajtas-3215	82	15	tax	tax	NOUN
ajtas-3215	82	16	incentives	incentive	NOUN
ajtas-3215	82	17	and	and	CCONJ
ajtas-3215	82	18	rates	rate	NOUN
ajtas-3215	82	19	on	on	ADP
ajtas-3215	82	20	fdi	fdi	NOUN
ajtas-3215	82	21	inflows	inflow	NOUN
ajtas-3215	82	22	.	.	PUNCT
ajtas-3215	83	1	4	4	X
ajtas-3215	83	2	.	.	X
ajtas-3215	83	3	international	international	ADJ
ajtas-3215	83	4	coordination	coordination	NOUN
ajtas-3215	83	5	:	:	PUNCT
ajtas-3215	83	6	participate	participate	VERB
ajtas-3215	83	7	in	in	ADP
ajtas-3215	83	8	global	global	ADJ
ajtas-3215	83	9	tax	tax	NOUN
ajtas-3215	83	10	initiatives	initiative	NOUN
ajtas-3215	83	11	and	and	CCONJ
ajtas-3215	83	12	agreements	agreement	NOUN
ajtas-3215	83	13	to	to	PART
ajtas-3215	83	14	ensure	ensure	VERB
ajtas-3215	83	15	sustainable	sustainable	ADJ
ajtas-3215	83	16	distribution	distribution	NOUN
ajtas-3215	83	17	of	of	ADP
ajtas-3215	83	18	tax	tax	NOUN
ajtas-3215	83	19	benefits	benefit	NOUN
ajtas-3215	83	20	.	.	PUNCT
ajtas-3215	84	1	american	american	ADJ
ajtas-3215	84	2	journal	journal	PROPN
ajtas-3215	84	3	of	of	ADP
ajtas-3215	84	4	technology	technology	NOUN
ajtas-3215	84	5	and	and	CCONJ
ajtas-3215	84	6	applied	apply	VERB
ajtas-3215	84	7	sciences	science	NOUN
ajtas-3215	84	8	43	43	NUM
ajtas-3215	84	9	,	,	PUNCT
ajtas-3215	84	10	december	december	PROPN
ajtas-3215	84	11	2025	2025	NUM
ajtas-3215	84	12	p	p	NOUN
ajtas-3215	85	1	a	a	DET
ajtas-3215	85	2	g	g	NOUN
ajtas-3215	85	3	e	e	NOUN
ajtas-3215	85	4	|	|	ADV
ajtas-3215	85	5	48	48	NUM
ajtas-3215	85	6	www.americanjournal.org	www.americanjournal.org	NOUN
ajtas-3215	85	7	tax	tax	NOUN
ajtas-3215	85	8	policy	policy	NOUN
ajtas-3215	85	9	has	have	VERB
ajtas-3215	85	10	a	a	DET
ajtas-3215	85	11	significant	significant	ADJ
ajtas-3215	85	12	impact	impact	NOUN
ajtas-3215	85	13	on	on	ADP
ajtas-3215	85	14	the	the	DET
ajtas-3215	85	15	investment	investment	NOUN
ajtas-3215	85	16	climate	climate	NOUN
ajtas-3215	85	17	in	in	ADP
ajtas-3215	85	18	developing	develop	VERB
ajtas-3215	85	19	countries	country	NOUN
ajtas-3215	85	20	.	.	PUNCT
ajtas-3215	86	1	however	however	ADV
ajtas-3215	86	2	,	,	PUNCT
ajtas-3215	86	3	its	its	PRON
ajtas-3215	86	4	effectiveness	effectiveness	NOUN
ajtas-3215	86	5	is	be	AUX
ajtas-3215	86	6	determined	determine	VERB
ajtas-3215	86	7	not	not	PART
ajtas-3215	86	8	only	only	ADV
ajtas-3215	86	9	by	by	ADP
ajtas-3215	86	10	tax	tax	NOUN
ajtas-3215	86	11	rates	rate	NOUN
ajtas-3215	86	12	and	and	CCONJ
ajtas-3215	86	13	incentives	incentive	NOUN
ajtas-3215	86	14	provided	provide	VERB
ajtas-3215	86	15	,	,	PUNCT
ajtas-3215	86	16	but	but	CCONJ
ajtas-3215	86	17	also	also	ADV
ajtas-3215	86	18	by	by	ADP
ajtas-3215	86	19	the	the	DET
ajtas-3215	86	20	quality	quality	NOUN
ajtas-3215	86	21	of	of	ADP
ajtas-3215	86	22	the	the	DET
ajtas-3215	86	23	institutional	institutional	ADJ
ajtas-3215	86	24	environment	environment	NOUN
ajtas-3215	86	25	,	,	PUNCT
ajtas-3215	86	26	transparency	transparency	NOUN
ajtas-3215	86	27	,	,	PUNCT
ajtas-3215	86	28	the	the	DET
ajtas-3215	86	29	level	level	NOUN
ajtas-3215	86	30	of	of	ADP
ajtas-3215	86	31	legal	legal	ADJ
ajtas-3215	86	32	security	security	NOUN
ajtas-3215	86	33	,	,	PUNCT
ajtas-3215	86	34	and	and	CCONJ
ajtas-3215	86	35	compliance	compliance	NOUN
ajtas-3215	86	36	with	with	ADP
ajtas-3215	86	37	social	social	ADJ
ajtas-3215	86	38	and	and	CCONJ
ajtas-3215	86	39	environmental	environmental	ADJ
ajtas-3215	86	40	standards	standard	NOUN
ajtas-3215	86	41	.	.	PUNCT
ajtas-3215	87	1	empirical	empirical	ADJ
ajtas-3215	87	2	evidence	evidence	NOUN
ajtas-3215	87	3	shows	show	VERB
ajtas-3215	87	4	that	that	SCONJ
ajtas-3215	87	5	reducing	reduce	VERB
ajtas-3215	87	6	the	the	DET
ajtas-3215	87	7	tax	tax	NOUN
ajtas-3215	87	8	burden	burden	NOUN
ajtas-3215	87	9	can	can	AUX
ajtas-3215	87	10	stimulate	stimulate	VERB
ajtas-3215	87	11	fdi	fdi	NOUN
ajtas-3215	87	12	inflows	inflow	NOUN
ajtas-3215	87	13	,	,	PUNCT
ajtas-3215	87	14	but	but	CCONJ
ajtas-3215	87	15	without	without	ADP
ajtas-3215	87	16	a	a	DET
ajtas-3215	87	17	comprehensive	comprehensive	ADJ
ajtas-3215	87	18	approach	approach	NOUN
ajtas-3215	87	19	including	include	VERB
ajtas-3215	87	20	institutional	institutional	ADJ
ajtas-3215	87	21	reforms	reform	NOUN
ajtas-3215	87	22	and	and	CCONJ
ajtas-3215	87	23	international	international	ADJ
ajtas-3215	87	24	coordination	coordination	NOUN
ajtas-3215	87	25	,	,	PUNCT
ajtas-3215	87	26	the	the	DET
ajtas-3215	87	27	effect	effect	NOUN
ajtas-3215	87	28	will	will	AUX
ajtas-3215	87	29	be	be	AUX
ajtas-3215	87	30	limited	limit	VERB
ajtas-3215	87	31	.	.	PUNCT
ajtas-3215	88	1	therefore	therefore	ADV
ajtas-3215	88	2	,	,	PUNCT
ajtas-3215	88	3	to	to	PART
ajtas-3215	88	4	achieve	achieve	VERB
ajtas-3215	88	5	sustainable	sustainable	ADJ
ajtas-3215	88	6	development	development	NOUN
ajtas-3215	88	7	,	,	PUNCT
ajtas-3215	88	8	fiscal	fiscal	ADJ
ajtas-3215	88	9	incentives	incentive	NOUN
ajtas-3215	88	10	must	must	AUX
ajtas-3215	88	11	be	be	AUX
ajtas-3215	88	12	combined	combine	VERB
ajtas-3215	88	13	with	with	ADP
ajtas-3215	88	14	improved	improved	ADJ
ajtas-3215	88	15	governance	governance	NOUN
ajtas-3215	88	16	,	,	PUNCT
ajtas-3215	88	17	increased	increase	VERB
ajtas-3215	88	18	transparency	transparency	NOUN
ajtas-3215	88	19	,	,	PUNCT
ajtas-3215	88	20	and	and	CCONJ
ajtas-3215	88	21	the	the	DET
ajtas-3215	88	22	implementation	implementation	NOUN
ajtas-3215	88	23	of	of	ADP
ajtas-3215	88	24	social	social	ADJ
ajtas-3215	88	25	accountability	accountability	NOUN
ajtas-3215	88	26	mechanisms	mechanism	NOUN
ajtas-3215	88	27	to	to	PART
ajtas-3215	88	28	create	create	VERB
ajtas-3215	88	29	a	a	DET
ajtas-3215	88	30	favorable	favorable	ADJ
ajtas-3215	88	31	and	and	CCONJ
ajtas-3215	88	32	stable	stable	ADJ
ajtas-3215	88	33	investment	investment	NOUN
ajtas-3215	88	34	climate	climate	NOUN
ajtas-3215	88	35	.	.	PUNCT
ajtas-3215	89	1	references	reference	NOUN
ajtas-3215	89	2	1	1	NUM
ajtas-3215	89	3	.	.	PUNCT
ajtas-3215	89	4	zhuravleva	zhuravleva	PROPN
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ajtas-3215	93	10	//	//	PROPN
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ajtas-3215	105	11	//	//	PROPN
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ajtas-3215	135	4	:	:	PUNCT
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ajtas-3215	135	7	//	//	NUM
ajtas-3215	135	8	www	www	PROPN
ajtas-3215	135	9	.	.	PUNCT
ajtas-3215	136	1	oecd	oecd	PROPN
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ajtas-3215	138	5	:	:	PUNCT
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ajtas-3215	139	2	.	.	PUNCT
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ajtas-3215	140	4	:	:	PUNCT
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ajtas-3215	140	6	:	:	PUNCT
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ajtas-3215	141	4	.	.	PUNCT
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ajtas-3215	145	4	:	:	PUNCT
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ajtas-3215	146	1	7	7	X
ajtas-3215	146	2	.	.	X
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ajtas-3215	146	5	.	.	PUNCT
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ajtas-3215	147	23	//	//	NUM
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ajtas-3215	148	2	.	.	PUNCT
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ajtas-3215	150	2	,	,	PUNCT
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ajtas-3215	150	5	1	1	X
ajtas-3215	150	6	.	.	PUNCT
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ajtas-3215	151	3	–	–	PUNCT
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ajtas-3215	151	5	.	.	PUNCT
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ajtas-3215	152	3	:	:	PUNCT
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ajtas-3215	152	5	:	:	PUNCT
ajtas-3215	152	6	//	//	NUM
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ajtas-3215	152	8	.	.	PUNCT
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ajtas-3215	153	3	.	.	PUNCT
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ajtas-3215	155	4	:	:	PUNCT
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ajtas-3215	155	8	.	.	X
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ajtas-3215	156	1	–	–	PUNCT
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ajtas-3215	156	4	:	:	PUNCT
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ajtas-3215	156	7	//	//	NUM
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ajtas-3215	159	4	:	:	PUNCT
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ajtas-3215	161	4	|	|	ADV
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ajtas-3215	161	8	.	.	PUNCT
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ajtas-3215	162	5	.	.	PUNCT
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ajtas-3215	163	5	.	.	PUNCT
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ajtas-3215	169	3	:	:	PUNCT
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ajtas-3215	169	5	.	.	PUNCT
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ajtas-3215	170	2	.	.	PUNCT
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ajtas-3215	171	10	:	:	PUNCT
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ajtas-3215	172	1	–	–	PUNCT
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ajtas-3215	173	16	:	:	PUNCT
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ajtas-3215	173	18	8	8	NUM
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