id	sid	tid	token	lemma	pos
ftr-402	1	1	the	the	DET
ftr-402	1	2	three	three	NUM
ftr-402	1	3	parties	party	NOUN
ftr-402	1	4	in	in	ADP
ftr-402	1	5	the	the	DET
ftr-402	1	6	race	race	NOUN
ftr-402	1	7	to	to	ADP
ftr-402	1	8	the	the	DET
ftr-402	1	9	bottom	bottom	NOUN
ftr-402	1	10	:	:	PUNCT
ftr-402	1	11	host	host	NOUN
ftr-402	1	12	governments	government	NOUN
ftr-402	1	13	,	,	PUNCT
ftr-402	1	14	home	home	NOUN
ftr-402	1	15	governments	government	NOUN
ftr-402	1	16	and	and	CCONJ
ftr-402	1	17	multin	multin	PROPN
ftr-402	1	18	151	151	NUM
ftr-402	1	19	florida	florida	PROPN
ftr-402	1	20	tax	tax	NOUN
ftr-402	1	21	review	review	NOUN
ftr-402	1	22	volume	volume	NOUN
ftr-402	1	23	7	7	NUM
ftr-402	1	24	2005	2005	NUM
ftr-402	1	25	number	number	NOUN
ftr-402	1	26	3	3	NUM
ftr-402	1	27	the	the	DET
ftr-402	1	28	three	three	NUM
ftr-402	1	29	parties	party	NOUN
ftr-402	1	30	in	in	ADP
ftr-402	1	31	the	the	DET
ftr-402	1	32	race	race	NOUN
ftr-402	1	33	to	to	ADP
ftr-402	1	34	the	the	DET
ftr-402	1	35	bottom	bottom	NOUN
ftr-402	1	36	:	:	PUNCT
ftr-402	1	37	host	host	NOUN
ftr-402	1	38	governments	government	NOUN
ftr-402	1	39	,	,	PUNCT
ftr-402	1	40	home	home	NOUN
ftr-402	1	41	governments	government	NOUN
ftr-402	1	42	and	and	CCONJ
ftr-402	1	43	multinational	multinational	ADJ
ftr-402	1	44	companies	company	NOUN
ftr-402	1	45	by	by	ADP
ftr-402	1	46	rosanne	rosanne	PROPN
ftr-402	1	47	altshuler	altshuler	PROPN
ftr-402	1	48	harry	harry	PROPN
ftr-402	1	49	grubert	grubert	PROPN
ftr-402	1	50	abstract	abstract	PROPN
ftr-402	1	51	.	.	PUNCT
ftr-402	1	52	.	.	PUNCT
ftr-402	1	53	.	.	PUNCT
ftr-402	1	54	.	.	PUNCT
ftr-402	1	55	.	.	PUNCT
ftr-402	1	56	.	.	PUNCT
ftr-402	1	57	.	.	PUNCT
ftr-402	1	58	.	.	PUNCT
ftr-402	1	59	.	.	PUNCT
ftr-402	1	60	.	.	PUNCT
ftr-402	1	61	.	.	PUNCT
ftr-402	1	62	.	.	PUNCT
ftr-402	1	63	.	.	PUNCT
ftr-402	1	64	.	.	PUNCT
ftr-402	1	65	.	.	PUNCT
ftr-402	1	66	.	.	PUNCT
ftr-402	1	67	.	.	PUNCT
ftr-402	1	68	.	.	PUNCT
ftr-402	1	69	.	.	PUNCT
ftr-402	1	70	.	.	PUNCT
ftr-402	1	71	.	.	PUNCT
ftr-402	1	72	.	.	PUNCT
ftr-402	1	73	.	.	PUNCT
ftr-402	1	74	.	.	PUNCT
ftr-402	1	75	.	.	PUNCT
ftr-402	1	76	.	.	PUNCT
ftr-402	1	77	.	.	PUNCT
ftr-402	1	78	.	.	PUNCT
ftr-402	1	79	.	.	PUNCT
ftr-402	1	80	.	.	PUNCT
ftr-402	1	81	.	.	PUNCT
ftr-402	1	82	.	.	PUNCT
ftr-402	1	83	.	.	PUNCT
ftr-402	1	84	.	.	PUNCT
ftr-402	1	85	.	.	PUNCT
ftr-402	1	86	.	.	PUNCT
ftr-402	1	87	.	.	PUNCT
ftr-402	1	88	.	.	PUNCT
ftr-402	1	89	.	.	PUNCT
ftr-402	1	90	.	.	PUNCT
ftr-402	1	91	.	.	PUNCT
ftr-402	1	92	.	.	PUNCT
ftr-402	1	93	.	.	PUNCT
ftr-402	1	94	.	.	PUNCT
ftr-402	1	95	.	.	PUNCT
ftr-402	1	96	.	.	PUNCT
ftr-402	1	97	.	.	PUNCT
ftr-402	1	98	.	.	PUNCT
ftr-402	1	99	.	.	PUNCT
ftr-402	1	100	.	.	PUNCT
ftr-402	1	101	.	.	PUNCT
ftr-402	1	102	.	.	PUNCT
ftr-402	2	1	.	.	PUNCT
ftr-402	3	1	152	152	NUM
ftr-402	3	2	i.	i.	NOUN
ftr-402	3	3	the	the	DET
ftr-402	3	4	u.s	u.s	PROPN
ftr-402	3	5	.	.	PROPN
ftr-402	3	6	rules	rule	NOUN
ftr-402	3	7	for	for	ADP
ftr-402	3	8	taxing	tax	VERB
ftr-402	3	9	foreign	foreign	ADJ
ftr-402	3	10	income	income	NOUN
ftr-402	3	11	and	and	CCONJ
ftr-402	3	12	the	the	DET
ftr-402	3	13	new	new	ADJ
ftr-402	3	14	planning	planning	NOUN
ftr-402	3	15	structures	structure	NOUN
ftr-402	3	16	.	.	PUNCT
ftr-402	3	17	.	.	PUNCT
ftr-402	3	18	.	.	PUNCT
ftr-402	3	19	.	.	PUNCT
ftr-402	3	20	.	.	PUNCT
ftr-402	3	21	.	.	PUNCT
ftr-402	3	22	.	.	PUNCT
ftr-402	3	23	.	.	PUNCT
ftr-402	3	24	.	.	PUNCT
ftr-402	3	25	.	.	PUNCT
ftr-402	3	26	.	.	PUNCT
ftr-402	3	27	.	.	PUNCT
ftr-402	3	28	.	.	PUNCT
ftr-402	3	29	.	.	PUNCT
ftr-402	3	30	.	.	PUNCT
ftr-402	3	31	.	.	PUNCT
ftr-402	3	32	.	.	PUNCT
ftr-402	3	33	.	.	PUNCT
ftr-402	3	34	.	.	PUNCT
ftr-402	3	35	.	.	PUNCT
ftr-402	3	36	.	.	PUNCT
ftr-402	3	37	.	.	PUNCT
ftr-402	3	38	.	.	PUNCT
ftr-402	3	39	.	.	PUNCT
ftr-402	3	40	.	.	PUNCT
ftr-402	3	41	.	.	PUNCT
ftr-402	3	42	.	.	PUNCT
ftr-402	4	1	155	155	NUM
ftr-402	4	2	ii	ii	PROPN
ftr-402	4	3	.	.	PUNCT
ftr-402	4	4	data	datum	NOUN
ftr-402	4	5	sources	source	NOUN
ftr-402	4	6	.	.	PUNCT
ftr-402	4	7	.	.	PUNCT
ftr-402	4	8	.	.	PUNCT
ftr-402	4	9	.	.	PUNCT
ftr-402	4	10	.	.	PUNCT
ftr-402	4	11	.	.	PUNCT
ftr-402	4	12	.	.	PUNCT
ftr-402	4	13	.	.	PUNCT
ftr-402	4	14	.	.	PUNCT
ftr-402	4	15	.	.	PUNCT
ftr-402	4	16	.	.	PUNCT
ftr-402	4	17	.	.	PUNCT
ftr-402	4	18	.	.	PUNCT
ftr-402	4	19	.	.	PUNCT
ftr-402	4	20	.	.	PUNCT
ftr-402	4	21	.	.	PUNCT
ftr-402	4	22	.	.	PUNCT
ftr-402	4	23	.	.	PUNCT
ftr-402	4	24	.	.	PUNCT
ftr-402	4	25	.	.	PUNCT
ftr-402	4	26	.	.	PUNCT
ftr-402	4	27	.	.	PUNCT
ftr-402	4	28	.	.	PUNCT
ftr-402	4	29	.	.	PUNCT
ftr-402	4	30	.	.	PUNCT
ftr-402	4	31	.	.	PUNCT
ftr-402	4	32	.	.	PUNCT
ftr-402	4	33	.	.	PUNCT
ftr-402	4	34	.	.	PUNCT
ftr-402	4	35	.	.	PUNCT
ftr-402	4	36	.	.	PUNCT
ftr-402	4	37	.	.	PUNCT
ftr-402	4	38	.	.	PUNCT
ftr-402	4	39	.	.	PUNCT
ftr-402	4	40	.	.	PUNCT
ftr-402	4	41	.	.	PUNCT
ftr-402	4	42	.	.	PUNCT
ftr-402	4	43	.	.	PUNCT
ftr-402	4	44	.	.	PUNCT
ftr-402	4	45	.	.	PUNCT
ftr-402	4	46	.	.	PUNCT
ftr-402	4	47	.	.	PUNCT
ftr-402	5	1	158	158	NUM
ftr-402	5	2	iii	iii	X
ftr-402	5	3	.	.	PUNCT
ftr-402	5	4	country	country	NOUN
ftr-402	5	5	average	average	ADJ
ftr-402	5	6	effective	effective	ADJ
ftr-402	5	7	tax	tax	NOUN
ftr-402	5	8	rates	rate	NOUN
ftr-402	5	9	,	,	PUNCT
ftr-402	5	10	1980	1980	NUM
ftr-402	5	11	-	-	SYM
ftr-402	5	12	2000	2000	NUM
ftr-402	5	13	.	.	PUNCT
ftr-402	5	14	.	.	PUNCT
ftr-402	5	15	.	.	PUNCT
ftr-402	5	16	.	.	PUNCT
ftr-402	5	17	.	.	PUNCT
ftr-402	5	18	.	.	PUNCT
ftr-402	5	19	.	.	PUNCT
ftr-402	6	1	.	.	PUNCT
ftr-402	7	1	158	158	NUM
ftr-402	7	2	iv	iv	NUM
ftr-402	7	3	.	.	PUNCT
ftr-402	7	4	tax	tax	NOUN
ftr-402	7	5	planning	planning	NOUN
ftr-402	7	6	and	and	CCONJ
ftr-402	7	7	changes	change	NOUN
ftr-402	7	8	in	in	ADP
ftr-402	7	9	firm	firm	ADJ
ftr-402	7	10	level	level	NOUN
ftr-402	7	11	effective	effective	ADJ
ftr-402	7	12	tax	tax	NOUN
ftr-402	7	13	rates	rate	NOUN
ftr-402	7	14	.	.	PUNCT
ftr-402	7	15	.	.	PUNCT
ftr-402	7	16	.	.	PUNCT
ftr-402	7	17	.	.	PUNCT
ftr-402	7	18	.	.	PUNCT
ftr-402	7	19	.	.	PUNCT
ftr-402	7	20	.	.	PUNCT
ftr-402	7	21	.	.	PUNCT
ftr-402	7	22	.	.	PUNCT
ftr-402	7	23	.	.	PUNCT
ftr-402	7	24	.	.	PUNCT
ftr-402	7	25	.	.	PUNCT
ftr-402	7	26	.	.	PUNCT
ftr-402	7	27	.	.	PUNCT
ftr-402	7	28	.	.	PUNCT
ftr-402	7	29	.	.	PUNCT
ftr-402	7	30	.	.	PUNCT
ftr-402	7	31	.	.	PUNCT
ftr-402	7	32	.	.	PUNCT
ftr-402	7	33	.	.	PUNCT
ftr-402	7	34	.	.	PUNCT
ftr-402	7	35	.	.	PUNCT
ftr-402	7	36	.	.	PUNCT
ftr-402	7	37	.	.	PUNCT
ftr-402	7	38	.	.	PUNCT
ftr-402	7	39	.	.	PUNCT
ftr-402	7	40	.	.	PUNCT
ftr-402	7	41	.	.	PUNCT
ftr-402	7	42	.	.	PUNCT
ftr-402	7	43	.	.	PUNCT
ftr-402	7	44	.	.	PUNCT
ftr-402	7	45	.	.	PUNCT
ftr-402	7	46	.	.	PUNCT
ftr-402	8	1	.	.	PUNCT
ftr-402	9	1	163	163	NUM
ftr-402	10	1	v.	v.	ADP
ftr-402	10	2	evidence	evidence	NOUN
ftr-402	10	3	on	on	ADP
ftr-402	10	4	the	the	DET
ftr-402	10	5	growth	growth	NOUN
ftr-402	10	6	of	of	ADP
ftr-402	10	7	income	income	NOUN
ftr-402	10	8	shifting	shift	VERB
ftr-402	10	9	at	at	ADP
ftr-402	10	10	the	the	DET
ftr-402	10	11	subsidiary	subsidiary	ADJ
ftr-402	10	12	level	level	NOUN
ftr-402	10	13	.	.	PUNCT
ftr-402	10	14	.	.	PUNCT
ftr-402	10	15	.	.	PUNCT
ftr-402	10	16	.	.	PUNCT
ftr-402	10	17	.	.	PUNCT
ftr-402	10	18	.	.	PUNCT
ftr-402	10	19	.	.	PUNCT
ftr-402	10	20	.	.	PUNCT
ftr-402	10	21	.	.	PUNCT
ftr-402	10	22	.	.	PUNCT
ftr-402	10	23	.	.	PUNCT
ftr-402	10	24	.	.	PUNCT
ftr-402	10	25	.	.	PUNCT
ftr-402	10	26	.	.	PUNCT
ftr-402	10	27	.	.	PUNCT
ftr-402	10	28	.	.	PUNCT
ftr-402	10	29	.	.	PUNCT
ftr-402	10	30	.	.	PUNCT
ftr-402	10	31	.	.	PUNCT
ftr-402	10	32	.	.	PUNCT
ftr-402	10	33	.	.	PUNCT
ftr-402	10	34	.	.	PUNCT
ftr-402	10	35	.	.	PUNCT
ftr-402	10	36	.	.	PUNCT
ftr-402	10	37	.	.	PUNCT
ftr-402	10	38	.	.	PUNCT
ftr-402	10	39	.	.	PUNCT
ftr-402	10	40	.	.	PUNCT
ftr-402	10	41	.	.	PUNCT
ftr-402	10	42	.	.	PUNCT
ftr-402	10	43	.	.	PUNCT
ftr-402	10	44	.	.	PUNCT
ftr-402	10	45	.	.	PUNCT
ftr-402	10	46	.	.	PUNCT
ftr-402	10	47	.	.	PUNCT
ftr-402	10	48	.	.	PUNCT
ftr-402	10	49	.	.	PUNCT
ftr-402	10	50	.	.	PUNCT
ftr-402	10	51	.	.	PUNCT
ftr-402	11	1	164	164	NUM
ftr-402	11	2	vi	vi	NOUN
ftr-402	11	3	.	.	NOUN
ftr-402	11	4	evidence	evidence	NOUN
ftr-402	11	5	on	on	ADP
ftr-402	11	6	the	the	DET
ftr-402	11	7	location	location	NOUN
ftr-402	11	8	of	of	ADP
ftr-402	11	9	income	income	NOUN
ftr-402	11	10	and	and	CCONJ
ftr-402	11	11	real	real	ADJ
ftr-402	11	12	capital	capital	NOUN
ftr-402	11	13	.	.	PUNCT
ftr-402	11	14	.	.	PUNCT
ftr-402	12	1	166	166	NUM
ftr-402	12	2	vii	vii	PROPN
ftr-402	12	3	.	.	PROPN
ftr-402	12	4	evidence	evidence	NOUN
ftr-402	12	5	on	on	ADP
ftr-402	12	6	tax	tax	NOUN
ftr-402	12	7	planning	planning	NOUN
ftr-402	12	8	in	in	ADP
ftr-402	12	9	the	the	DET
ftr-402	12	10	bea	bea	PROPN
ftr-402	12	11	data	datum	NOUN
ftr-402	12	12	.	.	PUNCT
ftr-402	12	13	.	.	PUNCT
ftr-402	12	14	.	.	PUNCT
ftr-402	12	15	.	.	PUNCT
ftr-402	12	16	.	.	PUNCT
ftr-402	12	17	.	.	PUNCT
ftr-402	12	18	.	.	PUNCT
ftr-402	12	19	.	.	PUNCT
ftr-402	12	20	.	.	PUNCT
ftr-402	12	21	.	.	PUNCT
ftr-402	12	22	.	.	PUNCT
ftr-402	12	23	.	.	PUNCT
ftr-402	12	24	.	.	PUNCT
ftr-402	13	1	166	166	NUM
ftr-402	13	2	viii	viii	NOUN
ftr-402	13	3	.	.	PUNCT
ftr-402	14	1	the	the	DET
ftr-402	14	2	double	double	ADJ
ftr-402	14	3	counting	counting	NOUN
ftr-402	14	4	problem	problem	NOUN
ftr-402	14	5	.	.	PUNCT
ftr-402	14	6	.	.	PUNCT
ftr-402	14	7	.	.	PUNCT
ftr-402	14	8	.	.	PUNCT
ftr-402	14	9	.	.	PUNCT
ftr-402	14	10	.	.	PUNCT
ftr-402	14	11	.	.	PUNCT
ftr-402	14	12	.	.	PUNCT
ftr-402	14	13	.	.	PUNCT
ftr-402	14	14	.	.	PUNCT
ftr-402	14	15	.	.	PUNCT
ftr-402	14	16	.	.	PUNCT
ftr-402	14	17	.	.	PUNCT
ftr-402	14	18	.	.	PUNCT
ftr-402	14	19	.	.	PUNCT
ftr-402	14	20	.	.	PUNCT
ftr-402	14	21	.	.	PUNCT
ftr-402	14	22	.	.	PUNCT
ftr-402	14	23	.	.	PUNCT
ftr-402	14	24	.	.	PUNCT
ftr-402	14	25	.	.	PUNCT
ftr-402	14	26	.	.	PUNCT
ftr-402	14	27	.	.	PUNCT
ftr-402	15	1	167	167	NUM
ftr-402	15	2	ix	ix	ADJ
ftr-402	15	3	.	.	PUNCT
ftr-402	16	1	implications	implication	NOUN
ftr-402	16	2	of	of	ADP
ftr-402	16	3	the	the	DET
ftr-402	16	4	growth	growth	NOUN
ftr-402	16	5	of	of	ADP
ftr-402	16	6	equity	equity	NOUN
ftr-402	16	7	income	income	NOUN
ftr-402	16	8	from	from	ADP
ftr-402	16	9	foreign	foreign	ADJ
ftr-402	16	10	affiliations	affiliation	NOUN
ftr-402	16	11	.	.	PUNCT
ftr-402	16	12	.	.	PUNCT
ftr-402	16	13	.	.	PUNCT
ftr-402	16	14	.	.	PUNCT
ftr-402	16	15	.	.	PUNCT
ftr-402	16	16	.	.	PUNCT
ftr-402	16	17	.	.	PUNCT
ftr-402	16	18	.	.	PUNCT
ftr-402	16	19	.	.	PUNCT
ftr-402	16	20	.	.	PUNCT
ftr-402	16	21	.	.	PUNCT
ftr-402	16	22	.	.	PUNCT
ftr-402	16	23	.	.	PUNCT
ftr-402	16	24	.	.	PUNCT
ftr-402	16	25	.	.	PUNCT
ftr-402	16	26	.	.	PUNCT
ftr-402	16	27	.	.	PUNCT
ftr-402	16	28	.	.	PUNCT
ftr-402	16	29	.	.	PUNCT
ftr-402	16	30	.	.	PUNCT
ftr-402	16	31	.	.	PUNCT
ftr-402	16	32	.	.	PUNCT
ftr-402	16	33	.	.	PUNCT
ftr-402	16	34	.	.	PUNCT
ftr-402	16	35	.	.	PUNCT
ftr-402	16	36	.	.	PUNCT
ftr-402	16	37	.	.	PUNCT
ftr-402	17	1	168	168	NUM
ftr-402	17	2	x.	x.	NOUN
ftr-402	17	3	conclusion	conclusion	NOUN
ftr-402	17	4	.	.	PUNCT
ftr-402	17	5	.	.	PUNCT
ftr-402	17	6	.	.	PUNCT
ftr-402	17	7	.	.	PUNCT
ftr-402	17	8	.	.	PUNCT
ftr-402	17	9	.	.	PUNCT
ftr-402	17	10	.	.	PUNCT
ftr-402	17	11	.	.	PUNCT
ftr-402	17	12	.	.	PUNCT
ftr-402	17	13	.	.	PUNCT
ftr-402	17	14	.	.	PUNCT
ftr-402	17	15	.	.	PUNCT
ftr-402	17	16	.	.	PUNCT
ftr-402	17	17	.	.	PUNCT
ftr-402	17	18	.	.	PUNCT
ftr-402	17	19	.	.	PUNCT
ftr-402	17	20	.	.	PUNCT
ftr-402	17	21	.	.	PUNCT
ftr-402	17	22	.	.	PUNCT
ftr-402	17	23	.	.	PUNCT
ftr-402	17	24	.	.	PUNCT
ftr-402	17	25	.	.	PUNCT
ftr-402	17	26	.	.	PUNCT
ftr-402	17	27	.	.	PUNCT
ftr-402	17	28	.	.	PUNCT
ftr-402	17	29	.	.	PUNCT
ftr-402	17	30	.	.	PUNCT
ftr-402	17	31	.	.	PUNCT
ftr-402	17	32	.	.	PUNCT
ftr-402	17	33	.	.	PUNCT
ftr-402	17	34	.	.	PUNCT
ftr-402	17	35	.	.	PUNCT
ftr-402	17	36	.	.	PUNCT
ftr-402	17	37	.	.	PUNCT
ftr-402	17	38	.	.	PUNCT
ftr-402	17	39	.	.	PUNCT
ftr-402	17	40	.	.	PUNCT
ftr-402	17	41	.	.	PUNCT
ftr-402	17	42	.	.	PUNCT
ftr-402	17	43	.	.	PUNCT
ftr-402	17	44	.	.	PUNCT
ftr-402	18	1	169	169	NUM
ftr-402	18	2	152	152	NUM
ftr-402	18	3	florida	florida	PROPN
ftr-402	18	4	tax	tax	NOUN
ftr-402	18	5	review	review	NOUN
ftr-402	18	6	[	[	X
ftr-402	18	7	vol.7:3	vol.7:3	X
ftr-402	18	8	*	*	PUNCT
ftr-402	18	9	associate	associate	NOUN
ftr-402	18	10	professor	professor	NOUN
ftr-402	18	11	of	of	ADP
ftr-402	18	12	economics	economic	NOUN
ftr-402	18	13	,	,	PUNCT
ftr-402	18	14	rutgers	rutgers	PROPN
ftr-402	18	15	university	university	NOUN
ftr-402	18	16	.	.	PUNCT
ftr-402	19	1	*	*	PUNCT
ftr-402	19	2	*	*	PUNCT
ftr-402	19	3	economist	economist	NOUN
ftr-402	19	4	in	in	ADP
ftr-402	19	5	the	the	DET
ftr-402	19	6	office	office	NOUN
ftr-402	19	7	of	of	ADP
ftr-402	19	8	tax	tax	NOUN
ftr-402	19	9	analysis	analysis	NOUN
ftr-402	19	10	,	,	PUNCT
ftr-402	19	11	u.s	u.s	PROPN
ftr-402	19	12	.	.	PROPN
ftr-402	19	13	treasury	treasury	PROPN
ftr-402	19	14	.	.	PUNCT
ftr-402	20	1	nothing	nothing	PRON
ftr-402	20	2	in	in	ADP
ftr-402	20	3	this	this	DET
ftr-402	20	4	paper	paper	NOUN
ftr-402	20	5	should	should	AUX
ftr-402	20	6	be	be	AUX
ftr-402	20	7	construed	construe	VERB
ftr-402	20	8	as	as	ADP
ftr-402	20	9	reflecting	reflect	VERB
ftr-402	20	10	the	the	DET
ftr-402	20	11	views	view	NOUN
ftr-402	20	12	and	and	CCONJ
ftr-402	20	13	policy	policy	NOUN
ftr-402	20	14	of	of	ADP
ftr-402	20	15	the	the	DET
ftr-402	20	16	u.s	u.s	PROPN
ftr-402	20	17	.	.	PROPN
ftr-402	20	18	treasury	treasury	PROPN
ftr-402	20	19	department	department	PROPN
ftr-402	20	20	.	.	PUNCT
ftr-402	21	1	we	we	PRON
ftr-402	21	2	are	be	AUX
ftr-402	21	3	grateful	grateful	ADJ
ftr-402	21	4	for	for	ADP
ftr-402	21	5	comments	comment	NOUN
ftr-402	21	6	from	from	ADP
ftr-402	21	7	paul	paul	PROPN
ftr-402	21	8	mcdaniel	mcdaniel	PROPN
ftr-402	21	9	,	,	PUNCT
ftr-402	21	10	jack	jack	PROPN
ftr-402	21	11	mintz	mintz	PROPN
ftr-402	21	12	,	,	PUNCT
ftr-402	21	13	andrew	andrew	PROPN
ftr-402	21	14	lyon	lyon	PROPN
ftr-402	21	15	and	and	CCONJ
ftr-402	21	16	william	william	PROPN
ftr-402	21	17	randolph	randolph	PROPN
ftr-402	21	18	.	.	PUNCT
ftr-402	22	1	we	we	PRON
ftr-402	22	2	thank	thank	VERB
ftr-402	22	3	raymond	raymond	PROPN
ftr-402	22	4	mataloni	mataloni	VERB
ftr-402	22	5	for	for	ADP
ftr-402	22	6	help	help	NOUN
ftr-402	22	7	with	with	ADP
ftr-402	22	8	the	the	DET
ftr-402	22	9	department	department	PROPN
ftr-402	22	10	of	of	ADP
ftr-402	22	11	commerce	commerce	PROPN
ftr-402	22	12	data	datum	NOUN
ftr-402	22	13	and	and	CCONJ
ftr-402	22	14	gordon	gordon	PROPN
ftr-402	22	15	wilson	wilson	PROPN
ftr-402	22	16	for	for	ADP
ftr-402	22	17	help	help	NOUN
ftr-402	22	18	with	with	ADP
ftr-402	22	19	the	the	DET
ftr-402	22	20	tax	tax	NOUN
ftr-402	22	21	return	return	NOUN
ftr-402	22	22	data	datum	NOUN
ftr-402	22	23	.	.	PUNCT
ftr-402	23	1	the	the	DET
ftr-402	23	2	three	three	NUM
ftr-402	23	3	parties	party	NOUN
ftr-402	23	4	in	in	ADP
ftr-402	23	5	the	the	DET
ftr-402	23	6	race	race	NOUN
ftr-402	23	7	to	to	ADP
ftr-402	23	8	the	the	DET
ftr-402	23	9	bottom	bottom	NOUN
ftr-402	23	10	:	:	PUNCT
ftr-402	23	11	host	host	NOUN
ftr-402	23	12	governments	government	NOUN
ftr-402	23	13	,	,	PUNCT
ftr-402	23	14	home	home	NOUN
ftr-402	23	15	governments	government	NOUN
ftr-402	23	16	and	and	CCONJ
ftr-402	23	17	multinational	multinational	ADJ
ftr-402	23	18	companies	company	NOUN
ftr-402	23	19	by	by	ADP
ftr-402	23	20	rosanne	rosanne	PROPN
ftr-402	23	21	altshuler	altshuler	PROPN
ftr-402	23	22	*	*	PROPN
ftr-402	23	23	harry	harry	PROPN
ftr-402	23	24	grubert	grubert	PROPN
ftr-402	23	25	*	*	PROPN
ftr-402	23	26	*	*	NOUN
ftr-402	23	27	abstract	abstract	ADJ
ftr-402	23	28	most	most	ADJ
ftr-402	23	29	studies	study	NOUN
ftr-402	23	30	of	of	ADP
ftr-402	23	31	tax	tax	NOUN
ftr-402	23	32	competition	competition	NOUN
ftr-402	23	33	and	and	CCONJ
ftr-402	23	34	the	the	DET
ftr-402	23	35	race	race	NOUN
ftr-402	23	36	to	to	ADP
ftr-402	23	37	the	the	DET
ftr-402	23	38	bottom	bottom	ADJ
ftr-402	23	39	focus	focus	NOUN
ftr-402	23	40	on	on	ADP
ftr-402	23	41	potential	potential	ADJ
ftr-402	23	42	host	host	NOUN
ftr-402	23	43	countries	country	NOUN
ftr-402	23	44	competing	compete	VERB
ftr-402	23	45	for	for	ADP
ftr-402	23	46	mobile	mobile	ADJ
ftr-402	23	47	capital	capital	NOUN
ftr-402	23	48	,	,	PUNCT
ftr-402	23	49	neglecting	neglect	VERB
ftr-402	23	50	the	the	DET
ftr-402	23	51	role	role	NOUN
ftr-402	23	52	of	of	ADP
ftr-402	23	53	corporate	corporate	ADJ
ftr-402	23	54	tax	tax	NOUN
ftr-402	23	55	planning	planning	NOUN
ftr-402	23	56	and	and	CCONJ
ftr-402	23	57	of	of	ADP
ftr-402	23	58	home	home	NOUN
ftr-402	23	59	governments	government	NOUN
ftr-402	23	60	that	that	PRON
ftr-402	23	61	facilitate	facilitate	VERB
ftr-402	23	62	this	this	DET
ftr-402	23	63	planning	planning	NOUN
ftr-402	23	64	.	.	PUNCT
ftr-402	24	1	this	this	DET
ftr-402	24	2	neglect	neglect	NOUN
ftr-402	24	3	in	in	ADP
ftr-402	24	4	part	part	NOUN
ftr-402	24	5	reflects	reflect	VERB
ftr-402	24	6	the	the	DET
ftr-402	24	7	narrow	narrow	ADJ
ftr-402	24	8	view	view	NOUN
ftr-402	24	9	frequently	frequently	ADV
ftr-402	24	10	taken	take	VERB
ftr-402	24	11	of	of	ADP
ftr-402	24	12	the	the	DET
ftr-402	24	13	policy	policy	NOUN
ftr-402	24	14	instruments	instrument	NOUN
ftr-402	24	15	that	that	PRON
ftr-402	24	16	countries	country	NOUN
ftr-402	24	17	have	have	AUX
ftr-402	24	18	available	available	ADJ
ftr-402	24	19	in	in	ADP
ftr-402	24	20	tax	tax	NOUN
ftr-402	24	21	competition	competition	NOUN
ftr-402	24	22	.	.	PUNCT
ftr-402	25	1	for	for	ADP
ftr-402	25	2	example	example	NOUN
ftr-402	25	3	,	,	PUNCT
ftr-402	25	4	hightax	hightax	ADJ
ftr-402	25	5	host	host	NOUN
ftr-402	25	6	governments	government	NOUN
ftr-402	25	7	can	can	AUX
ftr-402	25	8	permit	permit	VERB
ftr-402	25	9	income	income	NOUN
ftr-402	25	10	to	to	PART
ftr-402	25	11	be	be	AUX
ftr-402	25	12	shifted	shift	VERB
ftr-402	25	13	out	out	ADP
ftr-402	25	14	to	to	PART
ftr-402	25	15	tax	tax	VERB
ftr-402	25	16	havens	haven	NOUN
ftr-402	25	17	as	as	ADP
ftr-402	25	18	a	a	DET
ftr-402	25	19	way	way	NOUN
ftr-402	25	20	of	of	ADP
ftr-402	25	21	attracting	attract	VERB
ftr-402	25	22	mobile	mobile	ADJ
ftr-402	25	23	companies	company	NOUN
ftr-402	25	24	.	.	PUNCT
ftr-402	26	1	home	home	NOUN
ftr-402	26	2	countries	country	NOUN
ftr-402	26	3	will	will	AUX
ftr-402	26	4	cooperate	cooperate	VERB
ftr-402	26	5	in	in	ADP
ftr-402	26	6	this	this	DET
ftr-402	26	7	shift	shift	NOUN
ftr-402	26	8	if	if	SCONJ
ftr-402	26	9	they	they	PRON
ftr-402	26	10	think	think	VERB
ftr-402	26	11	the	the	DET
ftr-402	26	12	benefit	benefit	NOUN
ftr-402	26	13	to	to	ADP
ftr-402	26	14	their	their	PRON
ftr-402	26	15	companies	company	NOUN
ftr-402	26	16	is	be	AUX
ftr-402	26	17	greater	great	ADJ
ftr-402	26	18	than	than	ADP
ftr-402	26	19	any	any	DET
ftr-402	26	20	reduction	reduction	NOUN
ftr-402	26	21	in	in	ADP
ftr-402	26	22	the	the	DET
ftr-402	26	23	domestic	domestic	ADJ
ftr-402	26	24	tax	tax	NOUN
ftr-402	26	25	base	base	NOUN
ftr-402	26	26	.	.	PUNCT
ftr-402	27	1	we	we	PRON
ftr-402	27	2	use	use	VERB
ftr-402	27	3	various	various	ADJ
ftr-402	27	4	types	type	NOUN
ftr-402	27	5	of	of	ADP
ftr-402	27	6	u.s	u.s	PROPN
ftr-402	27	7	.	.	PROPN
ftr-402	27	8	data	data	PROPN
ftr-402	27	9	,	,	PUNCT
ftr-402	27	10	including	include	VERB
ftr-402	27	11	firm	firm	ADJ
ftr-402	27	12	level	level	NOUN
ftr-402	27	13	tax	tax	NOUN
ftr-402	27	14	files	file	NOUN
ftr-402	27	15	,	,	PUNCT
ftr-402	27	16	to	to	PART
ftr-402	27	17	identify	identify	VERB
ftr-402	27	18	the	the	DET
ftr-402	27	19	role	role	NOUN
ftr-402	27	20	of	of	ADP
ftr-402	27	21	the	the	DET
ftr-402	27	22	three	three	NUM
ftr-402	27	23	parties	party	NOUN
ftr-402	27	24	(	(	PUNCT
ftr-402	27	25	host	host	NOUN
ftr-402	27	26	governments	government	NOUN
ftr-402	27	27	,	,	PUNCT
ftr-402	27	28	home	home	NOUN
ftr-402	27	29	governments	government	NOUN
ftr-402	27	30	and	and	CCONJ
ftr-402	27	31	multinational	multinational	ADJ
ftr-402	27	32	companies	company	NOUN
ftr-402	27	33	)	)	PUNCT
ftr-402	27	34	in	in	ADP
ftr-402	27	35	the	the	DET
ftr-402	27	36	evolution	evolution	NOUN
ftr-402	27	37	of	of	ADP
ftr-402	27	38	tax	tax	NOUN
ftr-402	27	39	burdens	burden	NOUN
ftr-402	27	40	on	on	ADP
ftr-402	27	41	u.s	u.s	PROPN
ftr-402	27	42	.	.	PROPN
ftr-402	27	43	companies	company	NOUN
ftr-402	27	44	abroad	abroad	ADV
ftr-402	27	45	from	from	ADP
ftr-402	27	46	1992	1992	NUM
ftr-402	27	47	to	to	ADP
ftr-402	27	48	2002	2002	NUM
ftr-402	27	49	.	.	PUNCT
ftr-402	28	1	this	this	DET
ftr-402	28	2	period	period	NOUN
ftr-402	28	3	is	be	AUX
ftr-402	28	4	of	of	ADP
ftr-402	28	5	particular	particular	ADJ
ftr-402	28	6	interest	interest	NOUN
ftr-402	28	7	because	because	SCONJ
ftr-402	28	8	the	the	DET
ftr-402	28	9	united	united	PROPN
ftr-402	28	10	states	states	PROPN
ftr-402	28	11	introduced	introduce	VERB
ftr-402	28	12	regulations	regulation	NOUN
ftr-402	28	13	in	in	ADP
ftr-402	28	14	1997	1997	NUM
ftr-402	28	15	that	that	PRON
ftr-402	28	16	greatly	greatly	ADV
ftr-402	28	17	simplified	simplify	VERB
ftr-402	28	18	the	the	DET
ftr-402	28	19	use	use	NOUN
ftr-402	28	20	of	of	ADP
ftr-402	28	21	more	more	ADV
ftr-402	28	22	aggressive	aggressive	ADJ
ftr-402	28	23	tax	tax	NOUN
ftr-402	28	24	planning	planning	NOUN
ftr-402	28	25	techniques	technique	NOUN
ftr-402	28	26	.	.	PUNCT
ftr-402	29	1	the	the	DET
ftr-402	29	2	evidence	evidence	NOUN
ftr-402	29	3	indicates	indicate	VERB
ftr-402	29	4	that	that	SCONJ
ftr-402	29	5	from	from	ADP
ftr-402	29	6	1992	1992	NUM
ftr-402	29	7	to	to	ADP
ftr-402	29	8	1998	1998	NUM
ftr-402	29	9	the	the	DET
ftr-402	29	10	decline	decline	NOUN
ftr-402	29	11	in	in	ADP
ftr-402	29	12	effective	effective	ADJ
ftr-402	29	13	tax	tax	NOUN
ftr-402	29	14	rates	rate	NOUN
ftr-402	29	15	on	on	ADP
ftr-402	29	16	u.s	u.s	PROPN
ftr-402	29	17	.	.	PROPN
ftr-402	29	18	companies	company	NOUN
ftr-402	29	19	was	be	AUX
ftr-402	29	20	driven	drive	VERB
ftr-402	29	21	largely	largely	ADV
ftr-402	29	22	by	by	ADP
ftr-402	29	23	host	host	NOUN
ftr-402	29	24	governments	government	NOUN
ftr-402	29	25	defending	defend	VERB
ftr-402	29	26	their	their	PRON
ftr-402	29	27	market	market	NOUN
ftr-402	29	28	share	share	NOUN
ftr-402	29	29	.	.	PUNCT
ftr-402	30	1	but	but	CCONJ
ftr-402	30	2	after	after	ADP
ftr-402	30	3	1998	1998	NUM
ftr-402	30	4	,	,	PUNCT
ftr-402	30	5	tax	tax	NOUN
ftr-402	30	6	avoidance	avoidance	NOUN
ftr-402	30	7	behavior	behavior	NOUN
ftr-402	30	8	seems	seem	VERB
ftr-402	30	9	much	much	ADV
ftr-402	30	10	more	more	ADV
ftr-402	30	11	important	important	ADJ
ftr-402	30	12	.	.	PUNCT
ftr-402	31	1	effective	effective	ADJ
ftr-402	31	2	tax	tax	NOUN
ftr-402	31	3	rates	rate	NOUN
ftr-402	31	4	on	on	ADP
ftr-402	31	5	u.s	u.s	PROPN
ftr-402	31	6	.	.	PROPN
ftr-402	31	7	companies	company	NOUN
ftr-402	31	8	had	have	VERB
ftr-402	31	9	a	a	DET
ftr-402	31	10	much	much	ADV
ftr-402	31	11	weaker	weak	ADJ
ftr-402	31	12	link	link	NOUN
ftr-402	31	13	with	with	ADP
ftr-402	31	14	local	local	ADJ
ftr-402	31	15	statutory	statutory	ADJ
ftr-402	31	16	tax	tax	NOUN
ftr-402	31	17	rates	rate	NOUN
ftr-402	31	18	.	.	PUNCT
ftr-402	32	1	furthermore	furthermore	ADV
ftr-402	32	2	,	,	PUNCT
ftr-402	32	3	the	the	DET
ftr-402	32	4	disparity	disparity	NOUN
ftr-402	32	5	in	in	ADP
ftr-402	32	6	the	the	DET
ftr-402	32	7	reported	report	VERB
ftr-402	32	8	profitability	profitability	NOUN
ftr-402	32	9	of	of	ADP
ftr-402	32	10	subsidiaries	subsidiary	NOUN
ftr-402	32	11	in	in	ADP
ftr-402	32	12	high	high	ADJ
ftr-402	32	13	-	-	PUNCT
ftr-402	32	14	tax	tax	NOUN
ftr-402	32	15	and	and	CCONJ
ftr-402	32	16	low	low	ADJ
ftr-402	32	17	-	-	PUNCT
ftr-402	32	18	tax	tax	NOUN
ftr-402	32	19	jurisdictions	jurisdiction	NOUN
ftr-402	32	20	grew	grow	VERB
ftr-402	32	21	substantially	substantially	ADV
ftr-402	32	22	.	.	PUNCT
ftr-402	33	1	after	after	ADP
ftr-402	33	2	1997	1997	NUM
ftr-402	33	3	,	,	PUNCT
ftr-402	33	4	there	there	PRON
ftr-402	33	5	was	be	VERB
ftr-402	33	6	a	a	DET
ftr-402	33	7	very	very	ADV
ftr-402	33	8	large	large	ADJ
ftr-402	33	9	growth	growth	NOUN
ftr-402	33	10	in	in	ADP
ftr-402	33	11	intercompany	intercompany	NOUN
ftr-402	33	12	payments	payment	NOUN
ftr-402	33	13	and	and	CCONJ
ftr-402	33	14	a	a	DET
ftr-402	33	15	parallel	parallel	ADJ
ftr-402	33	16	growth	growth	NOUN
ftr-402	33	17	of	of	ADP
ftr-402	33	18	holding	hold	VERB
ftr-402	33	19	company	company	NOUN
ftr-402	33	20	income	income	NOUN
ftr-402	33	21	.	.	PUNCT
ftr-402	34	1	we	we	PRON
ftr-402	34	2	attempt	attempt	VERB
ftr-402	34	3	to	to	PART
ftr-402	34	4	estimate	estimate	VERB
ftr-402	34	5	how	how	SCONJ
ftr-402	34	6	much	much	ADJ
ftr-402	34	7	of	of	ADP
ftr-402	34	8	these	these	DET
ftr-402	34	9	payments	payment	NOUN
ftr-402	34	10	were	be	AUX
ftr-402	34	11	deductible	deductible	ADJ
ftr-402	34	12	in	in	ADP
ftr-402	34	13	the	the	DET
ftr-402	34	14	host	host	NOUN
ftr-402	34	15	country	country	NOUN
ftr-402	34	16	,	,	PUNCT
ftr-402	34	17	and	and	CCONJ
ftr-402	34	18	conclude	conclude	VERB
ftr-402	34	19	that	that	SCONJ
ftr-402	34	20	by	by	ADP
ftr-402	34	21	2002	2002	NUM
ftr-402	34	22	the	the	DET
ftr-402	34	23	companies	company	NOUN
ftr-402	34	24	were	be	AUX
ftr-402	34	25	saving	save	VERB
ftr-402	34	26	about	about	ADP
ftr-402	34	27	$	$	SYM
ftr-402	34	28	7.0	7.0	NUM
ftr-402	34	29	billion	billion	NUM
ftr-402	34	30	per	per	ADP
ftr-402	34	31	year	year	NOUN
ftr-402	34	32	by	by	ADP
ftr-402	34	33	using	use	VERB
ftr-402	34	34	the	the	DET
ftr-402	34	35	2005	2005	NUM
ftr-402	34	36	]	]	PUNCT
ftr-402	34	37	the	the	DET
ftr-402	34	38	three	three	NUM
ftr-402	34	39	parties	party	NOUN
ftr-402	34	40	in	in	ADP
ftr-402	34	41	the	the	DET
ftr-402	34	42	race	race	NOUN
ftr-402	34	43	to	to	ADP
ftr-402	34	44	the	the	DET
ftr-402	34	45	bottom	bottom	NOUN
ftr-402	34	46	153	153	NUM
ftr-402	34	47	1	1	NUM
ftr-402	34	48	.	.	PUNCT
ftr-402	35	1	for	for	ADP
ftr-402	35	2	a	a	DET
ftr-402	35	3	discussion	discussion	NOUN
ftr-402	35	4	on	on	ADP
ftr-402	35	5	how	how	SCONJ
ftr-402	35	6	to	to	PART
ftr-402	35	7	construct	construct	VERB
ftr-402	35	8	measures	measure	NOUN
ftr-402	35	9	of	of	ADP
ftr-402	35	10	effective	effective	ADJ
ftr-402	35	11	tax	tax	NOUN
ftr-402	35	12	rates	rate	NOUN
ftr-402	35	13	that	that	PRON
ftr-402	35	14	reflect	reflect	VERB
ftr-402	35	15	opportunities	opportunity	NOUN
ftr-402	35	16	for	for	ADP
ftr-402	35	17	various	various	ADJ
ftr-402	35	18	multilateral	multilateral	ADJ
ftr-402	35	19	strategies	strategy	NOUN
ftr-402	35	20	,	,	PUNCT
ftr-402	35	21	see	see	VERB
ftr-402	35	22	grubert	grubert	NOUN
ftr-402	35	23	,	,	PUNCT
ftr-402	35	24	harry	harry	PROPN
ftr-402	35	25	,	,	PUNCT
ftr-402	35	26	2004	2004	NUM
ftr-402	35	27	,	,	PUNCT
ftr-402	35	28	“	"	PUNCT
ftr-402	35	29	the	the	DET
ftr-402	35	30	tax	tax	NOUN
ftr-402	35	31	burden	burden	NOUN
ftr-402	35	32	on	on	ADP
ftr-402	35	33	cross	cross	ADJ
ftr-402	35	34	-	-	ADJ
ftr-402	35	35	border	border	ADJ
ftr-402	35	36	investment	investment	NOUN
ftr-402	35	37	:	:	PUNCT
ftr-402	35	38	company	company	NOUN
ftr-402	35	39	strategies	strategy	NOUN
ftr-402	35	40	and	and	CCONJ
ftr-402	35	41	country	country	NOUN
ftr-402	35	42	responses	response	NOUN
ftr-402	35	43	,	,	PUNCT
ftr-402	35	44	”	"	PUNCT
ftr-402	35	45	in	in	ADP
ftr-402	35	46	:	:	PUNCT
ftr-402	35	47	measuring	measure	VERB
ftr-402	35	48	the	the	DET
ftr-402	35	49	tax	tax	NOUN
ftr-402	35	50	burden	burden	NOUN
ftr-402	35	51	on	on	ADP
ftr-402	35	52	labor	labor	NOUN
ftr-402	35	53	and	and	CCONJ
ftr-402	35	54	capital	capital	NOUN
ftr-402	35	55	,	,	PUNCT
ftr-402	35	56	edited	edit	VERB
ftr-402	35	57	by	by	ADP
ftr-402	35	58	peter	peter	PROPN
ftr-402	35	59	birch	birch	PROPN
ftr-402	35	60	sorensen	sorensen	PROPN
ftr-402	35	61	.	.	PROPN
ftr-402	36	1	cambridge	cambridge	PROPN
ftr-402	36	2	,	,	PUNCT
ftr-402	36	3	massachusetts	massachusetts	PROPN
ftr-402	36	4	:	:	PUNCT
ftr-402	36	5	mit	mit	PROPN
ftr-402	36	6	press	press	NOUN
ftr-402	36	7	(	(	PUNCT
ftr-402	36	8	cesifo	cesifo	PROPN
ftr-402	36	9	seminar	seminar	NOUN
ftr-402	36	10	series	series	NOUN
ftr-402	36	11	):	):	PUNCT
ftr-402	36	12	129	129	NUM
ftr-402	36	13	-	-	SYM
ftr-402	36	14	170	170	NUM
ftr-402	36	15	,	,	PUNCT
ftr-402	36	16	[	[	X
ftr-402	36	17	hereinafter	hereinafter	NOUN
ftr-402	36	18	grubert	grubert	NOUN
ftr-402	36	19	(	(	PUNCT
ftr-402	36	20	2004	2004	NUM
ftr-402	36	21	)	)	PUNCT
ftr-402	36	22	]	]	PUNCT
ftr-402	36	23	.	.	PUNCT
ftr-402	37	1	more	more	ADV
ftr-402	37	2	aggressive	aggressive	ADJ
ftr-402	37	3	planning	planning	NOUN
ftr-402	37	4	strategies	strategy	NOUN
ftr-402	37	5	.	.	PUNCT
ftr-402	38	1	this	this	PRON
ftr-402	38	2	amounts	amount	VERB
ftr-402	38	3	to	to	ADP
ftr-402	38	4	about	about	ADP
ftr-402	38	5	4	4	NUM
ftr-402	38	6	%	%	NOUN
ftr-402	38	7	of	of	ADP
ftr-402	38	8	foreign	foreign	ADJ
ftr-402	38	9	direct	direct	ADJ
ftr-402	38	10	investment	investment	NOUN
ftr-402	38	11	income	income	NOUN
ftr-402	38	12	and	and	CCONJ
ftr-402	38	13	about	about	ADV
ftr-402	38	14	15	15	NUM
ftr-402	38	15	%	%	NOUN
ftr-402	38	16	of	of	ADP
ftr-402	38	17	their	their	PRON
ftr-402	38	18	foreign	foreign	ADJ
ftr-402	38	19	tax	tax	NOUN
ftr-402	38	20	burden	burden	NOUN
ftr-402	38	21	.	.	PUNCT
ftr-402	39	1	i.	i.	PROPN
ftr-402	39	2	introduction	introduction	NOUN
ftr-402	39	3	the	the	DET
ftr-402	39	4	tax	tax	NOUN
ftr-402	39	5	competition	competition	NOUN
ftr-402	39	6	literature	literature	NOUN
ftr-402	39	7	generally	generally	ADV
ftr-402	39	8	focuses	focus	VERB
ftr-402	39	9	on	on	ADP
ftr-402	39	10	potential	potential	ADJ
ftr-402	39	11	host	host	NOUN
ftr-402	39	12	countries	country	NOUN
ftr-402	39	13	competing	compete	VERB
ftr-402	39	14	for	for	ADP
ftr-402	39	15	mobile	mobile	ADJ
ftr-402	39	16	capital	capital	NOUN
ftr-402	39	17	.	.	PUNCT
ftr-402	40	1	but	but	CCONJ
ftr-402	40	2	there	there	PRON
ftr-402	40	3	are	be	VERB
ftr-402	40	4	two	two	NUM
ftr-402	40	5	other	other	ADJ
ftr-402	40	6	participants	participant	NOUN
ftr-402	40	7	that	that	PRON
ftr-402	40	8	are	be	AUX
ftr-402	40	9	important	important	ADJ
ftr-402	40	10	to	to	ADP
ftr-402	40	11	the	the	DET
ftr-402	40	12	evolution	evolution	NOUN
ftr-402	40	13	of	of	ADP
ftr-402	40	14	tax	tax	NOUN
ftr-402	40	15	burdens	burden	NOUN
ftr-402	40	16	:	:	PUNCT
ftr-402	40	17	multinational	multinational	ADJ
ftr-402	40	18	companies	company	NOUN
ftr-402	40	19	(	(	PUNCT
ftr-402	40	20	mncs	mncs	PROPN
ftr-402	40	21	)	)	PUNCT
ftr-402	40	22	that	that	PRON
ftr-402	40	23	engage	engage	VERB
ftr-402	40	24	in	in	ADP
ftr-402	40	25	various	various	ADJ
ftr-402	40	26	tax	tax	NOUN
ftr-402	40	27	planning	planning	NOUN
ftr-402	40	28	strategies	strategy	NOUN
ftr-402	40	29	and	and	CCONJ
ftr-402	40	30	home	home	NOUN
ftr-402	40	31	governments	government	NOUN
ftr-402	40	32	that	that	PRON
ftr-402	40	33	can	can	AUX
ftr-402	40	34	facilitate	facilitate	VERB
ftr-402	40	35	the	the	DET
ftr-402	40	36	use	use	NOUN
ftr-402	40	37	of	of	ADP
ftr-402	40	38	these	these	DET
ftr-402	40	39	strategies	strategy	NOUN
ftr-402	40	40	in	in	ADP
ftr-402	40	41	order	order	NOUN
ftr-402	40	42	to	to	PART
ftr-402	40	43	bolster	bolster	VERB
ftr-402	40	44	their	their	PRON
ftr-402	40	45	companies	company	NOUN
ftr-402	40	46	’	'	PUNCT
ftr-402	40	47	competitiveness	competitiveness	NOUN
ftr-402	40	48	.	.	PUNCT
ftr-402	41	1	discussions	discussion	NOUN
ftr-402	41	2	of	of	ADP
ftr-402	41	3	tax	tax	NOUN
ftr-402	41	4	competition	competition	NOUN
ftr-402	41	5	tend	tend	VERB
ftr-402	41	6	to	to	PART
ftr-402	41	7	focus	focus	VERB
ftr-402	41	8	only	only	ADV
ftr-402	41	9	on	on	ADP
ftr-402	41	10	a	a	DET
ftr-402	41	11	narrow	narrow	ADJ
ftr-402	41	12	range	range	NOUN
ftr-402	41	13	of	of	ADP
ftr-402	41	14	policy	policy	NOUN
ftr-402	41	15	instruments	instrument	NOUN
ftr-402	41	16	that	that	PRON
ftr-402	41	17	governments	government	NOUN
ftr-402	41	18	can	can	AUX
ftr-402	41	19	use	use	VERB
ftr-402	41	20	to	to	PART
ftr-402	41	21	attract	attract	VERB
ftr-402	41	22	companies	company	NOUN
ftr-402	41	23	,	,	PUNCT
ftr-402	41	24	as	as	SCONJ
ftr-402	41	25	reflected	reflect	VERB
ftr-402	41	26	in	in	ADP
ftr-402	41	27	effective	effective	ADJ
ftr-402	41	28	tax	tax	NOUN
ftr-402	41	29	rates	rate	NOUN
ftr-402	41	30	that	that	PRON
ftr-402	41	31	embody	embody	VERB
ftr-402	41	32	statutory	statutory	ADJ
ftr-402	41	33	tax	tax	NOUN
ftr-402	41	34	rates	rate	NOUN
ftr-402	41	35	,	,	PUNCT
ftr-402	41	36	accelerated	accelerate	VERB
ftr-402	41	37	depreciation	depreciation	NOUN
ftr-402	41	38	and	and	CCONJ
ftr-402	41	39	investment	investment	NOUN
ftr-402	41	40	credits	credit	NOUN
ftr-402	41	41	.	.	PUNCT
ftr-402	42	1	but	but	CCONJ
ftr-402	42	2	host	host	NOUN
ftr-402	42	3	governments	government	NOUN
ftr-402	42	4	can	can	AUX
ftr-402	42	5	use	use	VERB
ftr-402	42	6	other	other	ADJ
ftr-402	42	7	inducements	inducement	NOUN
ftr-402	42	8	as	as	ADV
ftr-402	42	9	well	well	ADV
ftr-402	42	10	,	,	PUNCT
ftr-402	42	11	such	such	ADJ
ftr-402	42	12	as	as	ADP
ftr-402	42	13	lax	lax	PROPN
ftr-402	42	14	thin	thin	ADJ
ftr-402	42	15	capitalization	capitalization	NOUN
ftr-402	42	16	rules	rule	NOUN
ftr-402	42	17	that	that	PRON
ftr-402	42	18	permit	permit	VERB
ftr-402	42	19	multinational	multinational	ADJ
ftr-402	42	20	companies	company	NOUN
ftr-402	42	21	to	to	PART
ftr-402	42	22	take	take	VERB
ftr-402	42	23	large	large	ADJ
ftr-402	42	24	deductions	deduction	NOUN
ftr-402	42	25	for	for	ADP
ftr-402	42	26	interest	interest	NOUN
ftr-402	42	27	paid	pay	VERB
ftr-402	42	28	to	to	ADP
ftr-402	42	29	affiliates	affiliate	NOUN
ftr-402	42	30	offshore	offshore	ADV
ftr-402	42	31	.	.	PUNCT
ftr-402	43	1	at	at	ADP
ftr-402	43	2	the	the	DET
ftr-402	43	3	same	same	ADJ
ftr-402	43	4	time	time	NOUN
ftr-402	43	5	home	home	NOUN
ftr-402	43	6	countries	country	NOUN
ftr-402	43	7	can	can	AUX
ftr-402	43	8	cooperate	cooperate	VERB
ftr-402	43	9	in	in	ADP
ftr-402	43	10	this	this	DET
ftr-402	43	11	strategy	strategy	NOUN
ftr-402	43	12	by	by	ADP
ftr-402	43	13	allowing	allow	VERB
ftr-402	43	14	the	the	DET
ftr-402	43	15	use	use	NOUN
ftr-402	43	16	of	of	ADP
ftr-402	43	17	tax	tax	NOUN
ftr-402	43	18	haven	haven	NOUN
ftr-402	43	19	finance	finance	NOUN
ftr-402	43	20	affiliates	affiliate	NOUN
ftr-402	43	21	for	for	ADP
ftr-402	43	22	the	the	DET
ftr-402	43	23	receipt	receipt	NOUN
ftr-402	43	24	of	of	ADP
ftr-402	43	25	this	this	DET
ftr-402	43	26	interest	interest	NOUN
ftr-402	43	27	.	.	PUNCT
ftr-402	44	1	this	this	DET
ftr-402	44	2	example	example	NOUN
ftr-402	44	3	illustrates	illustrate	VERB
ftr-402	44	4	the	the	DET
ftr-402	44	5	fact	fact	NOUN
ftr-402	44	6	that	that	SCONJ
ftr-402	44	7	tax	tax	NOUN
ftr-402	44	8	competition	competition	NOUN
ftr-402	44	9	can	can	AUX
ftr-402	44	10	not	not	PART
ftr-402	44	11	be	be	AUX
ftr-402	44	12	gauged	gauge	VERB
ftr-402	44	13	by	by	ADP
ftr-402	44	14	straightforward	straightforward	ADJ
ftr-402	44	15	bilateral	bilateral	ADJ
ftr-402	44	16	effective	effective	ADJ
ftr-402	44	17	tax	tax	NOUN
ftr-402	44	18	rates	rate	NOUN
ftr-402	44	19	because	because	SCONJ
ftr-402	44	20	some	some	DET
ftr-402	44	21	subset	subset	NOUN
ftr-402	44	22	of	of	ADP
ftr-402	44	23	the	the	DET
ftr-402	44	24	participants	participant	NOUN
ftr-402	44	25	can	can	AUX
ftr-402	44	26	cooperate	cooperate	VERB
ftr-402	44	27	in	in	ADP
ftr-402	44	28	the	the	DET
ftr-402	44	29	shifting	shifting	NOUN
ftr-402	44	30	of	of	ADP
ftr-402	44	31	income	income	NOUN
ftr-402	44	32	to	to	ADP
ftr-402	44	33	a	a	DET
ftr-402	44	34	third	third	ADJ
ftr-402	44	35	country.1	country.1	NOUN
ftr-402	44	36	this	this	DET
ftr-402	44	37	paper	paper	NOUN
ftr-402	44	38	uses	use	VERB
ftr-402	44	39	data	datum	NOUN
ftr-402	44	40	on	on	ADP
ftr-402	44	41	the	the	DET
ftr-402	44	42	operations	operation	NOUN
ftr-402	44	43	of	of	ADP
ftr-402	44	44	u.s	u.s	PROPN
ftr-402	44	45	.	.	PROPN
ftr-402	44	46	companies	company	NOUN
ftr-402	44	47	abroad	abroad	ADV
ftr-402	44	48	to	to	PART
ftr-402	44	49	illustrate	illustrate	VERB
ftr-402	44	50	the	the	DET
ftr-402	44	51	role	role	NOUN
ftr-402	44	52	of	of	ADP
ftr-402	44	53	each	each	PRON
ftr-402	44	54	of	of	ADP
ftr-402	44	55	the	the	DET
ftr-402	44	56	actors	actor	NOUN
ftr-402	44	57	in	in	ADP
ftr-402	44	58	the	the	DET
ftr-402	44	59	reduction	reduction	NOUN
ftr-402	44	60	of	of	ADP
ftr-402	44	61	corporate	corporate	ADJ
ftr-402	44	62	tax	tax	NOUN
ftr-402	44	63	burdens	burden	NOUN
ftr-402	44	64	.	.	PUNCT
ftr-402	45	1	the	the	DET
ftr-402	45	2	period	period	NOUN
ftr-402	45	3	covered	cover	VERB
ftr-402	45	4	is	be	AUX
ftr-402	45	5	from	from	ADP
ftr-402	45	6	1992	1992	NUM
ftr-402	45	7	to	to	ADP
ftr-402	45	8	2002	2002	NUM
ftr-402	45	9	,	,	PUNCT
ftr-402	45	10	with	with	ADP
ftr-402	45	11	special	special	ADJ
ftr-402	45	12	emphasis	emphasis	NOUN
ftr-402	45	13	on	on	ADP
ftr-402	45	14	the	the	DET
ftr-402	45	15	period	period	NOUN
ftr-402	45	16	after	after	ADP
ftr-402	45	17	1996	1996	NUM
ftr-402	45	18	.	.	PUNCT
ftr-402	46	1	in	in	ADP
ftr-402	46	2	1997	1997	NUM
ftr-402	46	3	,	,	PUNCT
ftr-402	46	4	the	the	DET
ftr-402	46	5	u.s	u.s	PROPN
ftr-402	46	6	.	.	PROPN
ftr-402	46	7	treasury	treasury	PROPN
ftr-402	46	8	issued	issue	VERB
ftr-402	46	9	regulations	regulation	NOUN
ftr-402	46	10	which	which	PRON
ftr-402	46	11	were	be	AUX
ftr-402	46	12	initially	initially	ADV
ftr-402	46	13	targeted	target	VERB
ftr-402	46	14	on	on	ADP
ftr-402	46	15	purely	purely	ADV
ftr-402	46	16	domestic	domestic	ADJ
ftr-402	46	17	businesses	business	NOUN
ftr-402	46	18	but	but	CCONJ
ftr-402	46	19	had	have	VERB
ftr-402	46	20	important	important	ADJ
ftr-402	46	21	international	international	ADJ
ftr-402	46	22	implications	implication	NOUN
ftr-402	46	23	because	because	SCONJ
ftr-402	46	24	they	they	PRON
ftr-402	46	25	greatly	greatly	ADV
ftr-402	46	26	simplified	simplify	VERB
ftr-402	46	27	the	the	DET
ftr-402	46	28	use	use	NOUN
ftr-402	46	29	of	of	ADP
ftr-402	46	30	more	more	ADV
ftr-402	46	31	aggressive	aggressive	ADJ
ftr-402	46	32	tax	tax	NOUN
ftr-402	46	33	planning	planning	NOUN
ftr-402	46	34	strategies	strategy	NOUN
ftr-402	46	35	.	.	PUNCT
ftr-402	47	1	indeed	indeed	ADV
ftr-402	47	2	,	,	PUNCT
ftr-402	47	3	we	we	PRON
ftr-402	47	4	will	will	AUX
ftr-402	47	5	see	see	VERB
ftr-402	47	6	that	that	SCONJ
ftr-402	47	7	the	the	DET
ftr-402	47	8	driving	drive	VERB
ftr-402	47	9	force	force	NOUN
ftr-402	47	10	behind	behind	ADP
ftr-402	47	11	the	the	DET
ftr-402	47	12	fall	fall	NOUN
ftr-402	47	13	in	in	ADP
ftr-402	47	14	effective	effective	ADJ
ftr-402	47	15	tax	tax	NOUN
ftr-402	47	16	rates	rate	NOUN
ftr-402	47	17	on	on	ADP
ftr-402	47	18	u.s	u.s	PROPN
ftr-402	47	19	.	.	PROPN
ftr-402	47	20	companies	company	NOUN
ftr-402	47	21	changed	change	VERB
ftr-402	47	22	after	after	ADP
ftr-402	47	23	1996	1996	NUM
ftr-402	47	24	.	.	PUNCT
ftr-402	48	1	prior	prior	ADV
ftr-402	48	2	to	to	ADP
ftr-402	48	3	then	then	ADV
ftr-402	48	4	,	,	PUNCT
ftr-402	48	5	there	there	PRON
ftr-402	48	6	seemed	seem	VERB
ftr-402	48	7	to	to	PART
ftr-402	48	8	be	be	AUX
ftr-402	48	9	pressure	pressure	NOUN
ftr-402	48	10	on	on	ADP
ftr-402	48	11	countries	country	NOUN
ftr-402	48	12	that	that	PRON
ftr-402	48	13	had	have	AUX
ftr-402	48	14	lost	lose	VERB
ftr-402	48	15	market	market	NOUN
ftr-402	48	16	share	share	NOUN
ftr-402	48	17	to	to	PART
ftr-402	48	18	lower	lower	VERB
ftr-402	48	19	their	their	PRON
ftr-402	48	20	effective	effective	ADJ
ftr-402	48	21	tax	tax	NOUN
ftr-402	48	22	rates	rate	NOUN
ftr-402	48	23	.	.	PUNCT
ftr-402	49	1	after	after	ADP
ftr-402	49	2	1996	1996	NUM
ftr-402	49	3	,	,	PUNCT
ftr-402	49	4	the	the	DET
ftr-402	49	5	role	role	NOUN
ftr-402	49	6	of	of	ADP
ftr-402	49	7	company	company	NOUN
ftr-402	49	8	tax	tax	NOUN
ftr-402	49	9	saving	saving	NOUN
ftr-402	49	10	strategies	strategy	NOUN
ftr-402	49	11	was	be	AUX
ftr-402	49	12	much	much	ADV
ftr-402	49	13	more	more	ADV
ftr-402	49	14	evident	evident	ADJ
ftr-402	49	15	.	.	PUNCT
ftr-402	50	1	the	the	DET
ftr-402	50	2	paper	paper	NOUN
ftr-402	50	3	proceeds	proceed	NOUN
ftr-402	50	4	as	as	SCONJ
ftr-402	50	5	follows	follow	VERB
ftr-402	50	6	:	:	PUNCT
ftr-402	50	7	first	first	ADV
ftr-402	50	8	,	,	PUNCT
ftr-402	50	9	the	the	DET
ftr-402	50	10	basics	basic	NOUN
ftr-402	50	11	of	of	ADP
ftr-402	50	12	the	the	DET
ftr-402	50	13	u.s	u.s	PROPN
ftr-402	50	14	.	.	PROPN
ftr-402	50	15	system	system	NOUN
ftr-402	50	16	for	for	ADP
ftr-402	50	17	taxing	tax	VERB
ftr-402	50	18	foreign	foreign	ADJ
ftr-402	50	19	direct	direct	ADJ
ftr-402	50	20	investment	investment	NOUN
ftr-402	50	21	income	income	NOUN
ftr-402	50	22	will	will	AUX
ftr-402	50	23	be	be	AUX
ftr-402	50	24	described	describe	VERB
ftr-402	50	25	including	include	VERB
ftr-402	50	26	the	the	DET
ftr-402	50	27	significance	significance	NOUN
ftr-402	50	28	of	of	ADP
ftr-402	50	29	the	the	DET
ftr-402	50	30	rules	rule	NOUN
ftr-402	50	31	introduced	introduce	VERB
ftr-402	50	32	in	in	ADP
ftr-402	50	33	1997	1997	NUM
ftr-402	50	34	.	.	PUNCT
ftr-402	51	1	this	this	PRON
ftr-402	51	2	provides	provide	VERB
ftr-402	51	3	the	the	DET
ftr-402	51	4	context	context	NOUN
ftr-402	51	5	for	for	ADP
ftr-402	51	6	the	the	DET
ftr-402	51	7	various	various	ADJ
ftr-402	51	8	tax	tax	NOUN
ftr-402	51	9	planning	planning	NOUN
ftr-402	51	10	strategies	strategy	NOUN
ftr-402	51	11	that	that	PRON
ftr-402	51	12	have	have	AUX
ftr-402	51	13	become	become	VERB
ftr-402	51	14	commonplace	commonplace	ADJ
ftr-402	51	15	.	.	PUNCT
ftr-402	52	1	reviewing	review	VERB
ftr-402	52	2	the	the	DET
ftr-402	52	3	details	detail	NOUN
ftr-402	52	4	of	of	ADP
ftr-402	52	5	the	the	DET
ftr-402	52	6	tax	tax	NOUN
ftr-402	52	7	rules	rule	NOUN
ftr-402	52	8	is	be	AUX
ftr-402	52	9	necessary	necessary	ADJ
ftr-402	52	10	in	in	ADP
ftr-402	52	11	order	order	NOUN
ftr-402	52	12	to	to	PART
ftr-402	52	13	make	make	VERB
ftr-402	52	14	an	an	DET
ftr-402	52	15	accurate	accurate	ADJ
ftr-402	52	16	assessment	assessment	NOUN
ftr-402	52	17	of	of	ADP
ftr-402	52	18	154	154	NUM
ftr-402	52	19	florida	florida	PROPN
ftr-402	52	20	tax	tax	NOUN
ftr-402	52	21	review	review	NOUN
ftr-402	52	22	[	[	X
ftr-402	52	23	vol.7:3	vol.7:3	NOUN
ftr-402	52	24	the	the	DET
ftr-402	52	25	tax	tax	NOUN
ftr-402	52	26	burdens	burden	NOUN
ftr-402	52	27	on	on	ADP
ftr-402	52	28	cross	cross	ADJ
ftr-402	52	29	-	-	ADJ
ftr-402	52	30	border	border	ADJ
ftr-402	52	31	investment	investment	NOUN
ftr-402	52	32	.	.	PUNCT
ftr-402	53	1	the	the	DET
ftr-402	53	2	incentives	incentive	NOUN
ftr-402	53	3	of	of	ADP
ftr-402	53	4	host	host	NOUN
ftr-402	53	5	and	and	CCONJ
ftr-402	53	6	home	home	NOUN
ftr-402	53	7	countries	country	NOUN
ftr-402	53	8	in	in	ADP
ftr-402	53	9	the	the	DET
ftr-402	53	10	tax	tax	NOUN
ftr-402	53	11	competition	competition	NOUN
ftr-402	53	12	process	process	NOUN
ftr-402	53	13	will	will	AUX
ftr-402	53	14	also	also	ADV
ftr-402	53	15	be	be	AUX
ftr-402	53	16	examined	examine	VERB
ftr-402	53	17	.	.	PUNCT
ftr-402	54	1	the	the	DET
ftr-402	54	2	empirical	empirical	ADJ
ftr-402	54	3	analysis	analysis	NOUN
ftr-402	54	4	looks	look	VERB
ftr-402	54	5	at	at	ADP
ftr-402	54	6	the	the	DET
ftr-402	54	7	issues	issue	NOUN
ftr-402	54	8	from	from	ADP
ftr-402	54	9	several	several	ADJ
ftr-402	54	10	angles	angle	NOUN
ftr-402	54	11	using	use	VERB
ftr-402	54	12	different	different	ADJ
ftr-402	54	13	types	type	NOUN
ftr-402	54	14	of	of	ADP
ftr-402	54	15	data	datum	NOUN
ftr-402	54	16	because	because	SCONJ
ftr-402	54	17	tax	tax	NOUN
ftr-402	54	18	strategies	strategy	NOUN
ftr-402	54	19	can	can	AUX
ftr-402	54	20	use	use	VERB
ftr-402	54	21	alternative	alternative	ADJ
ftr-402	54	22	structures	structure	NOUN
ftr-402	54	23	that	that	PRON
ftr-402	54	24	reveal	reveal	VERB
ftr-402	54	25	themselves	themselves	PRON
ftr-402	54	26	in	in	ADP
ftr-402	54	27	a	a	DET
ftr-402	54	28	variety	variety	NOUN
ftr-402	54	29	of	of	ADP
ftr-402	54	30	ways	way	NOUN
ftr-402	54	31	.	.	PUNCT
ftr-402	55	1	no	no	DET
ftr-402	55	2	single	single	ADJ
ftr-402	55	3	data	datum	NOUN
ftr-402	55	4	set	set	VERB
ftr-402	55	5	gives	give	VERB
ftr-402	55	6	the	the	DET
ftr-402	55	7	complete	complete	ADJ
ftr-402	55	8	picture	picture	NOUN
ftr-402	55	9	.	.	PUNCT
ftr-402	56	1	we	we	PRON
ftr-402	56	2	begin	begin	VERB
ftr-402	56	3	with	with	ADP
ftr-402	56	4	the	the	DET
ftr-402	56	5	evolution	evolution	NOUN
ftr-402	56	6	of	of	ADP
ftr-402	56	7	the	the	DET
ftr-402	56	8	average	average	ADJ
ftr-402	56	9	effective	effective	ADJ
ftr-402	56	10	tax	tax	NOUN
ftr-402	56	11	rates	rate	NOUN
ftr-402	56	12	(	(	PUNCT
ftr-402	56	13	aetrs	aetrs	PROPN
ftr-402	56	14	)	)	PUNCT
ftr-402	56	15	on	on	ADP
ftr-402	56	16	the	the	DET
ftr-402	56	17	net	net	ADJ
ftr-402	56	18	income	income	NOUN
ftr-402	56	19	earned	earn	VERB
ftr-402	56	20	by	by	ADP
ftr-402	56	21	u.s	u.s	PROPN
ftr-402	56	22	.	.	PROPN
ftr-402	56	23	manufacturing	manufacturing	NOUN
ftr-402	56	24	companies	company	NOUN
ftr-402	56	25	in	in	ADP
ftr-402	56	26	approximately	approximately	ADV
ftr-402	56	27	60	60	NUM
ftr-402	56	28	countries	country	NOUN
ftr-402	56	29	from	from	ADP
ftr-402	56	30	1992	1992	NUM
ftr-402	56	31	to	to	ADP
ftr-402	56	32	2000	2000	NUM
ftr-402	56	33	.	.	PUNCT
ftr-402	57	1	this	this	DET
ftr-402	57	2	analysis	analysis	NOUN
ftr-402	57	3	provides	provide	VERB
ftr-402	57	4	suggestive	suggestive	ADJ
ftr-402	57	5	evidence	evidence	NOUN
ftr-402	57	6	on	on	ADP
ftr-402	57	7	the	the	DET
ftr-402	57	8	respective	respective	ADJ
ftr-402	57	9	roles	role	NOUN
ftr-402	57	10	of	of	ADP
ftr-402	57	11	the	the	DET
ftr-402	57	12	players	player	NOUN
ftr-402	57	13	.	.	PUNCT
ftr-402	58	1	but	but	CCONJ
ftr-402	58	2	country	country	NOUN
ftr-402	58	3	rates	rate	NOUN
ftr-402	58	4	are	be	AUX
ftr-402	58	5	not	not	PART
ftr-402	58	6	completely	completely	ADV
ftr-402	58	7	definitive	definitive	ADJ
ftr-402	58	8	because	because	SCONJ
ftr-402	58	9	income	income	NOUN
ftr-402	58	10	in	in	ADP
ftr-402	58	11	the	the	DET
ftr-402	58	12	form	form	NOUN
ftr-402	58	13	of	of	ADP
ftr-402	58	14	interest	interest	NOUN
ftr-402	58	15	or	or	CCONJ
ftr-402	58	16	royalties	royalty	NOUN
ftr-402	58	17	could	could	AUX
ftr-402	58	18	have	have	AUX
ftr-402	58	19	been	be	AUX
ftr-402	58	20	shifted	shift	VERB
ftr-402	58	21	to	to	ADP
ftr-402	58	22	holding	hold	VERB
ftr-402	58	23	companies	company	NOUN
ftr-402	58	24	or	or	CCONJ
ftr-402	58	25	finance	finance	NOUN
ftr-402	58	26	affiliates	affiliate	NOUN
ftr-402	58	27	in	in	ADP
ftr-402	58	28	tax	tax	NOUN
ftr-402	58	29	havens	haven	NOUN
ftr-402	58	30	.	.	PUNCT
ftr-402	59	1	this	this	PRON
ftr-402	59	2	would	would	AUX
ftr-402	59	3	not	not	PART
ftr-402	59	4	be	be	AUX
ftr-402	59	5	captured	capture	VERB
ftr-402	59	6	in	in	ADP
ftr-402	59	7	the	the	DET
ftr-402	59	8	country	country	NOUN
ftr-402	59	9	average	average	ADJ
ftr-402	59	10	effective	effective	ADJ
ftr-402	59	11	tax	tax	NOUN
ftr-402	59	12	rates	rate	NOUN
ftr-402	59	13	for	for	ADP
ftr-402	59	14	manufacturing	manufacturing	NOUN
ftr-402	59	15	subsidiaries	subsidiary	NOUN
ftr-402	59	16	.	.	PUNCT
ftr-402	60	1	but	but	CCONJ
ftr-402	60	2	data	datum	NOUN
ftr-402	60	3	on	on	ADP
ftr-402	60	4	foreign	foreign	ADJ
ftr-402	60	5	direct	direct	ADJ
ftr-402	60	6	investment	investment	NOUN
ftr-402	60	7	income	income	NOUN
ftr-402	60	8	and	and	CCONJ
ftr-402	60	9	country	country	NOUN
ftr-402	60	10	affiliate	affiliate	NOUN
ftr-402	60	11	income	income	NOUN
ftr-402	60	12	provided	provide	VERB
ftr-402	60	13	by	by	ADP
ftr-402	60	14	the	the	DET
ftr-402	60	15	bureau	bureau	NOUN
ftr-402	60	16	of	of	ADP
ftr-402	60	17	economic	economic	ADJ
ftr-402	60	18	analysis	analysis	NOUN
ftr-402	60	19	(	(	PUNCT
ftr-402	60	20	bea	bea	NOUN
ftr-402	60	21	)	)	PUNCT
ftr-402	60	22	in	in	ADP
ftr-402	60	23	the	the	DET
ftr-402	60	24	u.s	u.s	PROPN
ftr-402	60	25	.	.	PROPN
ftr-402	60	26	commerce	commerce	PROPN
ftr-402	60	27	department	department	PROPN
ftr-402	60	28	allow	allow	VERB
ftr-402	60	29	us	we	PRON
ftr-402	60	30	to	to	PART
ftr-402	60	31	estimate	estimate	VERB
ftr-402	60	32	the	the	DET
ftr-402	60	33	growth	growth	NOUN
ftr-402	60	34	of	of	ADP
ftr-402	60	35	deductible	deductible	ADJ
ftr-402	60	36	payments	payment	NOUN
ftr-402	60	37	paid	pay	VERB
ftr-402	60	38	to	to	ADP
ftr-402	60	39	low	low	ADJ
ftr-402	60	40	-	-	PUNCT
ftr-402	60	41	tax	tax	NOUN
ftr-402	60	42	entities	entity	NOUN
ftr-402	60	43	.	.	PUNCT
ftr-402	61	1	in	in	ADP
ftr-402	61	2	addition	addition	NOUN
ftr-402	61	3	,	,	PUNCT
ftr-402	61	4	treasury	treasury	PROPN
ftr-402	61	5	tax	tax	NOUN
ftr-402	61	6	data	datum	NOUN
ftr-402	61	7	shows	show	VERB
ftr-402	61	8	the	the	DET
ftr-402	61	9	growth	growth	NOUN
ftr-402	61	10	of	of	ADP
ftr-402	61	11	income	income	NOUN
ftr-402	61	12	in	in	ADP
ftr-402	61	13	companies	company	NOUN
ftr-402	61	14	incorporated	incorporate	VERB
ftr-402	61	15	in	in	ADP
ftr-402	61	16	low	low	ADJ
ftr-402	61	17	-	-	PUNCT
ftr-402	61	18	tax	tax	NOUN
ftr-402	61	19	countries	country	NOUN
ftr-402	61	20	.	.	PUNCT
ftr-402	62	1	these	these	DET
ftr-402	62	2	tax	tax	NOUN
ftr-402	62	3	haven	haven	NOUN
ftr-402	62	4	corporations	corporation	NOUN
ftr-402	62	5	also	also	ADV
ftr-402	62	6	record	record	VERB
ftr-402	62	7	a	a	DET
ftr-402	62	8	large	large	ADJ
ftr-402	62	9	growth	growth	NOUN
ftr-402	62	10	in	in	ADP
ftr-402	62	11	plant	plant	NOUN
ftr-402	62	12	and	and	CCONJ
ftr-402	62	13	equipment	equipment	NOUN
ftr-402	62	14	,	,	PUNCT
ftr-402	62	15	which	which	PRON
ftr-402	62	16	must	must	AUX
ftr-402	62	17	in	in	ADP
ftr-402	62	18	fact	fact	NOUN
ftr-402	62	19	be	be	AUX
ftr-402	62	20	located	locate	VERB
ftr-402	62	21	in	in	ADP
ftr-402	62	22	operations	operation	NOUN
ftr-402	62	23	somewhere	somewhere	ADV
ftr-402	62	24	else	else	ADV
ftr-402	62	25	,	,	PUNCT
ftr-402	62	26	presumably	presumably	ADV
ftr-402	62	27	in	in	ADP
ftr-402	62	28	a	a	DET
ftr-402	62	29	high	high	ADJ
ftr-402	62	30	-	-	PUNCT
ftr-402	62	31	tax	tax	NOUN
ftr-402	62	32	country	country	NOUN
ftr-402	62	33	.	.	PUNCT
ftr-402	63	1	this	this	PRON
ftr-402	63	2	is	be	AUX
ftr-402	63	3	facilitated	facilitate	VERB
ftr-402	63	4	by	by	ADP
ftr-402	63	5	the	the	DET
ftr-402	63	6	new	new	ADJ
ftr-402	63	7	planning	planning	NOUN
ftr-402	63	8	strategies	strategy	NOUN
ftr-402	63	9	described	describe	VERB
ftr-402	63	10	below	below	ADV
ftr-402	63	11	,	,	PUNCT
ftr-402	63	12	in	in	ADP
ftr-402	63	13	which	which	PRON
ftr-402	63	14	one	one	NUM
ftr-402	63	15	subsidiary	subsidiary	NOUN
ftr-402	63	16	can	can	AUX
ftr-402	63	17	invest	invest	VERB
ftr-402	63	18	in	in	ADP
ftr-402	63	19	another	another	PRON
ftr-402	63	20	but	but	CCONJ
ftr-402	63	21	one	one	NUM
ftr-402	63	22	of	of	ADP
ftr-402	63	23	them	they	PRON
ftr-402	63	24	can	can	AUX
ftr-402	63	25	“	"	PUNCT
ftr-402	63	26	disappear	disappear	VERB
ftr-402	63	27	”	"	PUNCT
ftr-402	63	28	into	into	ADP
ftr-402	63	29	a	a	DET
ftr-402	63	30	combined	combine	VERB
ftr-402	63	31	entity	entity	NOUN
ftr-402	63	32	for	for	ADP
ftr-402	63	33	u.s	u.s	PROPN
ftr-402	63	34	.	.	PROPN
ftr-402	63	35	tax	tax	NOUN
ftr-402	63	36	purposes	purpose	NOUN
ftr-402	63	37	.	.	PUNCT
ftr-402	64	1	the	the	DET
ftr-402	64	2	comparison	comparison	NOUN
ftr-402	64	3	of	of	ADP
ftr-402	64	4	subsidiary	subsidiary	ADJ
ftr-402	64	5	-	-	PUNCT
ftr-402	64	6	level	level	NOUN
ftr-402	64	7	treasury	treasury	NOUN
ftr-402	64	8	data	datum	NOUN
ftr-402	64	9	for	for	ADP
ftr-402	64	10	1996	1996	NUM
ftr-402	64	11	and	and	CCONJ
ftr-402	64	12	2000	2000	NUM
ftr-402	64	13	adds	add	VERB
ftr-402	64	14	further	far	ADV
ftr-402	64	15	insight	insight	NOUN
ftr-402	64	16	into	into	ADP
ftr-402	64	17	the	the	DET
ftr-402	64	18	sources	source	NOUN
ftr-402	64	19	of	of	ADP
ftr-402	64	20	the	the	DET
ftr-402	64	21	declines	decline	NOUN
ftr-402	64	22	in	in	ADP
ftr-402	64	23	foreign	foreign	ADJ
ftr-402	64	24	tax	tax	NOUN
ftr-402	64	25	burdens	burden	NOUN
ftr-402	64	26	.	.	PUNCT
ftr-402	65	1	these	these	DET
ftr-402	65	2	data	datum	NOUN
ftr-402	65	3	permit	permit	VERB
ftr-402	65	4	an	an	DET
ftr-402	65	5	examination	examination	NOUN
ftr-402	65	6	of	of	ADP
ftr-402	65	7	the	the	DET
ftr-402	65	8	relationship	relationship	NOUN
ftr-402	65	9	between	between	ADP
ftr-402	65	10	subsidiary	subsidiary	NOUN
ftr-402	65	11	effective	effective	ADJ
ftr-402	65	12	tax	tax	NOUN
ftr-402	65	13	rates	rate	NOUN
ftr-402	65	14	and	and	CCONJ
ftr-402	65	15	country	country	NOUN
ftr-402	65	16	statutory	statutory	ADJ
ftr-402	65	17	rates	rate	NOUN
ftr-402	65	18	and	and	CCONJ
ftr-402	65	19	whether	whether	SCONJ
ftr-402	65	20	it	it	PRON
ftr-402	65	21	changed	change	VERB
ftr-402	65	22	in	in	ADP
ftr-402	65	23	2000	2000	NUM
ftr-402	65	24	compared	compare	VERB
ftr-402	65	25	to	to	ADP
ftr-402	65	26	1996	1996	NUM
ftr-402	65	27	because	because	SCONJ
ftr-402	65	28	of	of	ADP
ftr-402	65	29	the	the	DET
ftr-402	65	30	new	new	ADJ
ftr-402	65	31	tax	tax	NOUN
ftr-402	65	32	planning	planning	NOUN
ftr-402	65	33	opportunities	opportunity	NOUN
ftr-402	65	34	.	.	PUNCT
ftr-402	66	1	we	we	PRON
ftr-402	66	2	also	also	ADV
ftr-402	66	3	attempt	attempt	VERB
ftr-402	66	4	to	to	PART
ftr-402	66	5	see	see	VERB
ftr-402	66	6	whether	whether	SCONJ
ftr-402	66	7	a	a	DET
ftr-402	66	8	greater	great	ADJ
ftr-402	66	9	share	share	NOUN
ftr-402	66	10	of	of	ADP
ftr-402	66	11	income	income	NOUN
ftr-402	66	12	has	have	AUX
ftr-402	66	13	been	be	AUX
ftr-402	66	14	shifted	shift	VERB
ftr-402	66	15	to	to	ADP
ftr-402	66	16	companies	company	NOUN
ftr-402	66	17	in	in	ADP
ftr-402	66	18	low	low	ADJ
ftr-402	66	19	-	-	PUNCT
ftr-402	66	20	tax	tax	NOUN
ftr-402	66	21	countries	country	NOUN
ftr-402	66	22	.	.	PUNCT
ftr-402	67	1	the	the	DET
ftr-402	67	2	results	result	NOUN
ftr-402	67	3	indicate	indicate	VERB
ftr-402	67	4	that	that	SCONJ
ftr-402	67	5	all	all	DET
ftr-402	67	6	three	three	NUM
ftr-402	67	7	parties	party	NOUN
ftr-402	67	8	have	have	AUX
ftr-402	67	9	played	play	VERB
ftr-402	67	10	important	important	ADJ
ftr-402	67	11	roles	role	NOUN
ftr-402	67	12	in	in	ADP
ftr-402	67	13	the	the	DET
ftr-402	67	14	decline	decline	NOUN
ftr-402	67	15	in	in	ADP
ftr-402	67	16	effective	effective	ADJ
ftr-402	67	17	tax	tax	NOUN
ftr-402	67	18	burdens	burden	NOUN
ftr-402	67	19	since	since	SCONJ
ftr-402	67	20	1992	1992	NUM
ftr-402	67	21	.	.	PUNCT
ftr-402	68	1	from	from	ADP
ftr-402	68	2	1992	1992	NUM
ftr-402	68	3	to	to	ADP
ftr-402	68	4	1998	1998	NUM
ftr-402	68	5	,	,	PUNCT
ftr-402	68	6	countries	country	NOUN
ftr-402	68	7	appeared	appear	VERB
ftr-402	68	8	to	to	PART
ftr-402	68	9	react	react	VERB
ftr-402	68	10	to	to	ADP
ftr-402	68	11	their	their	PRON
ftr-402	68	12	past	past	ADJ
ftr-402	68	13	success	success	NOUN
ftr-402	68	14	,	,	PUNCT
ftr-402	68	15	or	or	CCONJ
ftr-402	68	16	the	the	DET
ftr-402	68	17	lack	lack	NOUN
ftr-402	68	18	of	of	ADP
ftr-402	68	19	it	it	PRON
ftr-402	68	20	,	,	PUNCT
ftr-402	68	21	in	in	ADP
ftr-402	68	22	attracting	attract	VERB
ftr-402	68	23	u.s	u.s	PROPN
ftr-402	68	24	.	.	PROPN
ftr-402	68	25	investment	investment	NOUN
ftr-402	68	26	.	.	PUNCT
ftr-402	69	1	the	the	DET
ftr-402	69	2	countries	country	NOUN
ftr-402	69	3	that	that	PRON
ftr-402	69	4	had	have	AUX
ftr-402	69	5	lost	lose	VERB
ftr-402	69	6	market	market	NOUN
ftr-402	69	7	share	share	NOUN
ftr-402	69	8	cut	cut	VERB
ftr-402	69	9	their	their	PRON
ftr-402	69	10	effective	effective	ADJ
ftr-402	69	11	tax	tax	NOUN
ftr-402	69	12	rates	rate	NOUN
ftr-402	69	13	more	more	ADJ
ftr-402	69	14	.	.	PUNCT
ftr-402	70	1	also	also	ADV
ftr-402	70	2	small	small	ADJ
ftr-402	70	3	countries	country	NOUN
ftr-402	70	4	,	,	PUNCT
ftr-402	70	5	which	which	PRON
ftr-402	70	6	would	would	AUX
ftr-402	70	7	face	face	VERB
ftr-402	70	8	the	the	DET
ftr-402	70	9	most	most	ADV
ftr-402	70	10	elastic	elastic	ADJ
ftr-402	70	11	supply	supply	NOUN
ftr-402	70	12	of	of	ADP
ftr-402	70	13	foreign	foreign	ADJ
ftr-402	70	14	capital	capital	NOUN
ftr-402	70	15	,	,	PUNCT
ftr-402	70	16	continued	continue	VERB
ftr-402	70	17	to	to	PART
ftr-402	70	18	reduce	reduce	VERB
ftr-402	70	19	their	their	PRON
ftr-402	70	20	effective	effective	ADJ
ftr-402	70	21	tax	tax	NOUN
ftr-402	70	22	rates	rate	NOUN
ftr-402	70	23	.	.	PUNCT
ftr-402	71	1	the	the	DET
ftr-402	71	2	new	new	ADJ
ftr-402	71	3	opportunities	opportunity	NOUN
ftr-402	71	4	for	for	ADP
ftr-402	71	5	tax	tax	NOUN
ftr-402	71	6	avoidance	avoidance	NOUN
ftr-402	71	7	introduced	introduce	VERB
ftr-402	71	8	in	in	ADP
ftr-402	71	9	1997	1997	NUM
ftr-402	71	10	seemed	seem	VERB
ftr-402	71	11	to	to	PART
ftr-402	71	12	be	be	AUX
ftr-402	71	13	a	a	DET
ftr-402	71	14	much	much	ADV
ftr-402	71	15	more	more	ADV
ftr-402	71	16	important	important	ADJ
ftr-402	71	17	force	force	NOUN
ftr-402	71	18	from	from	ADP
ftr-402	71	19	1998	1998	NUM
ftr-402	71	20	onward	onward	NOUN
ftr-402	71	21	.	.	PUNCT
ftr-402	72	1	changes	change	NOUN
ftr-402	72	2	in	in	ADP
ftr-402	72	3	market	market	NOUN
ftr-402	72	4	share	share	NOUN
ftr-402	72	5	were	be	AUX
ftr-402	72	6	no	no	ADV
ftr-402	72	7	longer	long	ADV
ftr-402	72	8	significant	significant	ADJ
ftr-402	72	9	determinants	determinant	NOUN
ftr-402	72	10	of	of	ADP
ftr-402	72	11	effective	effective	ADJ
ftr-402	72	12	tax	tax	NOUN
ftr-402	72	13	rates	rate	NOUN
ftr-402	72	14	and	and	CCONJ
ftr-402	72	15	small	small	ADJ
ftr-402	72	16	countries	country	NOUN
ftr-402	72	17	were	be	AUX
ftr-402	72	18	not	not	PART
ftr-402	72	19	the	the	DET
ftr-402	72	20	leading	lead	VERB
ftr-402	72	21	tax	tax	NOUN
ftr-402	72	22	cutters	cutter	NOUN
ftr-402	72	23	.	.	PUNCT
ftr-402	73	1	a	a	DET
ftr-402	73	2	country	country	NOUN
ftr-402	73	3	’s	’s	PART
ftr-402	73	4	initial	initial	ADJ
ftr-402	73	5	statutory	statutory	ADJ
ftr-402	73	6	tax	tax	NOUN
ftr-402	73	7	rate	rate	NOUN
ftr-402	73	8	,	,	PUNCT
ftr-402	73	9	which	which	PRON
ftr-402	73	10	indicates	indicate	VERB
ftr-402	73	11	the	the	DET
ftr-402	73	12	benefits	benefit	NOUN
ftr-402	73	13	to	to	ADP
ftr-402	73	14	the	the	DET
ftr-402	73	15	company	company	NOUN
ftr-402	73	16	of	of	ADP
ftr-402	73	17	shifting	shift	VERB
ftr-402	73	18	income	income	NOUN
ftr-402	73	19	out	out	ADP
ftr-402	73	20	,	,	PUNCT
ftr-402	73	21	became	become	VERB
ftr-402	73	22	more	more	ADV
ftr-402	73	23	important	important	ADJ
ftr-402	73	24	between	between	ADP
ftr-402	73	25	1998	1998	NUM
ftr-402	73	26	and	and	CCONJ
ftr-402	73	27	2000	2000	NUM
ftr-402	73	28	.	.	PUNCT
ftr-402	74	1	the	the	DET
ftr-402	74	2	role	role	NOUN
ftr-402	74	3	of	of	ADP
ftr-402	74	4	the	the	DET
ftr-402	74	5	companies	company	NOUN
ftr-402	74	6	and	and	CCONJ
ftr-402	74	7	the	the	DET
ftr-402	74	8	cooperation	cooperation	NOUN
ftr-402	74	9	,	,	PUNCT
ftr-402	74	10	or	or	CCONJ
ftr-402	74	11	nonresistance	nonresistance	NOUN
ftr-402	74	12	,	,	PUNCT
ftr-402	74	13	of	of	ADP
ftr-402	74	14	home	home	NOUN
ftr-402	74	15	and	and	CCONJ
ftr-402	74	16	host	host	NOUN
ftr-402	74	17	countries	country	NOUN
ftr-402	74	18	is	be	AUX
ftr-402	74	19	confirmed	confirm	VERB
ftr-402	74	20	in	in	ADP
ftr-402	74	21	the	the	DET
ftr-402	74	22	subsidiary	subsidiary	ADJ
ftr-402	74	23	-	-	PUNCT
ftr-402	74	24	level	level	NOUN
ftr-402	74	25	data	datum	NOUN
ftr-402	74	26	for	for	ADP
ftr-402	74	27	1996	1996	NUM
ftr-402	74	28	and	and	CCONJ
ftr-402	74	29	2000	2000	NUM
ftr-402	74	30	.	.	PUNCT
ftr-402	75	1	controlled	control	VERB
ftr-402	75	2	foreign	foreign	ADJ
ftr-402	75	3	corporation	corporation	NOUN
ftr-402	75	4	(	(	PUNCT
ftr-402	75	5	cfc	cfc	PROPN
ftr-402	75	6	)	)	PUNCT
ftr-402	75	7	effective	effective	ADJ
ftr-402	75	8	tax	tax	NOUN
ftr-402	75	9	rates	rate	NOUN
ftr-402	75	10	in	in	ADP
ftr-402	75	11	2000	2000	NUM
ftr-402	75	12	were	be	AUX
ftr-402	75	13	much	much	ADV
ftr-402	75	14	less	less	ADV
ftr-402	75	15	closely	closely	ADV
ftr-402	75	16	correlated	correlate	VERB
ftr-402	75	17	with	with	ADP
ftr-402	75	18	the	the	DET
ftr-402	75	19	local	local	ADJ
ftr-402	75	20	2005	2005	NUM
ftr-402	75	21	]	]	PUNCT
ftr-402	75	22	the	the	DET
ftr-402	75	23	three	three	NUM
ftr-402	75	24	parties	party	NOUN
ftr-402	75	25	in	in	ADP
ftr-402	75	26	the	the	DET
ftr-402	75	27	race	race	NOUN
ftr-402	75	28	to	to	ADP
ftr-402	75	29	the	the	DET
ftr-402	75	30	bottom	bottom	ADJ
ftr-402	75	31	155	155	NUM
ftr-402	75	32	statutory	statutory	ADJ
ftr-402	75	33	corporate	corporate	ADJ
ftr-402	75	34	tax	tax	NOUN
ftr-402	75	35	rate	rate	NOUN
ftr-402	75	36	than	than	ADP
ftr-402	75	37	in	in	ADP
ftr-402	75	38	1996	1996	NUM
ftr-402	75	39	,	,	PUNCT
ftr-402	75	40	suggesting	suggest	VERB
ftr-402	75	41	that	that	SCONJ
ftr-402	75	42	some	some	DET
ftr-402	75	43	profitable	profitable	ADJ
ftr-402	75	44	companies	company	NOUN
ftr-402	75	45	in	in	ADP
ftr-402	75	46	high	high	ADJ
ftr-402	75	47	-	-	PUNCT
ftr-402	75	48	tax	tax	NOUN
ftr-402	75	49	locations	location	NOUN
ftr-402	75	50	were	be	AUX
ftr-402	75	51	in	in	ADP
ftr-402	75	52	a	a	DET
ftr-402	75	53	position	position	NOUN
ftr-402	75	54	to	to	PART
ftr-402	75	55	engage	engage	VERB
ftr-402	75	56	in	in	ADP
ftr-402	75	57	“	"	PUNCT
ftr-402	75	58	self	self	NOUN
ftr-402	75	59	-	-	PUNCT
ftr-402	75	60	help	help	NOUN
ftr-402	75	61	”	"	PUNCT
ftr-402	75	62	by	by	ADP
ftr-402	75	63	taking	take	VERB
ftr-402	75	64	advantage	advantage	NOUN
ftr-402	75	65	of	of	ADP
ftr-402	75	66	the	the	DET
ftr-402	75	67	new	new	ADJ
ftr-402	75	68	planning	planning	NOUN
ftr-402	75	69	opportunities	opportunity	NOUN
ftr-402	75	70	.	.	PUNCT
ftr-402	76	1	furthermore	furthermore	ADV
ftr-402	76	2	the	the	DET
ftr-402	76	3	disparity	disparity	NOUN
ftr-402	76	4	of	of	ADP
ftr-402	76	5	cfc	cfc	PROPN
ftr-402	76	6	profitability	profitability	NOUN
ftr-402	76	7	between	between	ADP
ftr-402	76	8	high	high	ADJ
ftr-402	76	9	-	-	PUNCT
ftr-402	76	10	tax	tax	NOUN
ftr-402	76	11	and	and	CCONJ
ftr-402	76	12	low	low	ADJ
ftr-402	76	13	-	-	PUNCT
ftr-402	76	14	tax	tax	NOUN
ftr-402	76	15	countries	country	NOUN
ftr-402	76	16	widened	widen	VERB
ftr-402	76	17	substantially	substantially	ADV
ftr-402	76	18	in	in	ADP
ftr-402	76	19	2000	2000	NUM
ftr-402	76	20	compared	compare	VERB
ftr-402	76	21	to	to	ADP
ftr-402	76	22	1996	1996	NUM
ftr-402	76	23	.	.	PUNCT
ftr-402	77	1	this	this	PRON
ftr-402	77	2	might	might	AUX
ftr-402	77	3	have	have	AUX
ftr-402	77	4	happened	happen	VERB
ftr-402	77	5	,	,	PUNCT
ftr-402	77	6	for	for	ADP
ftr-402	77	7	example	example	NOUN
ftr-402	77	8	,	,	PUNCT
ftr-402	77	9	if	if	SCONJ
ftr-402	77	10	a	a	DET
ftr-402	77	11	highly	highly	ADV
ftr-402	77	12	profitable	profitable	ADJ
ftr-402	77	13	operation	operation	NOUN
ftr-402	77	14	formerly	formerly	ADV
ftr-402	77	15	incorporated	incorporate	VERB
ftr-402	77	16	in	in	ADP
ftr-402	77	17	a	a	DET
ftr-402	77	18	high	high	ADJ
ftr-402	77	19	-	-	PUNCT
ftr-402	77	20	tax	tax	NOUN
ftr-402	77	21	location	location	NOUN
ftr-402	77	22	disappeared	disappear	VERB
ftr-402	77	23	into	into	ADP
ftr-402	77	24	a	a	DET
ftr-402	77	25	low	low	ADJ
ftr-402	77	26	-	-	PUNCT
ftr-402	77	27	tax	tax	NOUN
ftr-402	77	28	sibling	sibling	NOUN
ftr-402	77	29	that	that	PRON
ftr-402	77	30	had	have	AUX
ftr-402	77	31	stripped	strip	VERB
ftr-402	77	32	income	income	NOUN
ftr-402	77	33	out	out	ADP
ftr-402	77	34	of	of	ADP
ftr-402	77	35	it	it	PRON
ftr-402	77	36	.	.	PUNCT
ftr-402	78	1	(	(	PUNCT
ftr-402	78	2	this	this	DET
ftr-402	78	3	planning	planning	NOUN
ftr-402	78	4	technique	technique	NOUN
ftr-402	78	5	is	be	AUX
ftr-402	78	6	described	describe	VERB
ftr-402	78	7	below	below	ADP
ftr-402	78	8	.	.	PUNCT
ftr-402	78	9	)	)	PUNCT
ftr-402	79	1	the	the	DET
ftr-402	79	2	surveys	survey	NOUN
ftr-402	79	3	of	of	ADP
ftr-402	79	4	direct	direct	ADJ
ftr-402	79	5	investors	investor	NOUN
ftr-402	79	6	by	by	ADP
ftr-402	79	7	the	the	DET
ftr-402	79	8	bureau	bureau	NOUN
ftr-402	79	9	of	of	ADP
ftr-402	79	10	economic	economic	ADJ
ftr-402	79	11	analysis	analysis	NOUN
ftr-402	79	12	in	in	ADP
ftr-402	79	13	the	the	DET
ftr-402	79	14	u.s	u.s	PROPN
ftr-402	79	15	.	.	PROPN
ftr-402	79	16	commerce	commerce	PROPN
ftr-402	79	17	department	department	PROPN
ftr-402	79	18	show	show	VERB
ftr-402	79	19	a	a	DET
ftr-402	79	20	very	very	ADV
ftr-402	79	21	large	large	ADJ
ftr-402	79	22	increase	increase	NOUN
ftr-402	79	23	in	in	ADP
ftr-402	79	24	intercompany	intercompany	NOUN
ftr-402	79	25	payments	payment	NOUN
ftr-402	79	26	and	and	CCONJ
ftr-402	79	27	in	in	ADP
ftr-402	79	28	the	the	DET
ftr-402	79	29	income	income	NOUN
ftr-402	79	30	of	of	ADP
ftr-402	79	31	holding	hold	VERB
ftr-402	79	32	companies	company	NOUN
ftr-402	79	33	abroad	abroad	ADV
ftr-402	79	34	after	after	ADP
ftr-402	79	35	1997	1997	NUM
ftr-402	79	36	.	.	PUNCT
ftr-402	80	1	this	this	PRON
ftr-402	80	2	presumably	presumably	ADV
ftr-402	80	3	resulted	result	VERB
ftr-402	80	4	from	from	ADP
ftr-402	80	5	the	the	DET
ftr-402	80	6	new	new	ADJ
ftr-402	80	7	planning	planning	NOUN
ftr-402	80	8	structures	structure	NOUN
ftr-402	80	9	facilitated	facilitate	VERB
ftr-402	80	10	by	by	ADP
ftr-402	80	11	the	the	DET
ftr-402	80	12	1997	1997	NUM
ftr-402	80	13	treasury	treasury	PROPN
ftr-402	80	14	department	department	NOUN
ftr-402	80	15	regulations	regulation	NOUN
ftr-402	80	16	.	.	PUNCT
ftr-402	81	1	but	but	CCONJ
ftr-402	81	2	in	in	ADP
ftr-402	81	3	interpreting	interpret	VERB
ftr-402	81	4	this	this	DET
ftr-402	81	5	growth	growth	NOUN
ftr-402	81	6	in	in	ADP
ftr-402	81	7	intercompany	intercompany	NOUN
ftr-402	81	8	income	income	NOUN
ftr-402	81	9	it	it	PRON
ftr-402	81	10	is	be	AUX
ftr-402	81	11	important	important	ADJ
ftr-402	81	12	to	to	PART
ftr-402	81	13	distinguish	distinguish	VERB
ftr-402	81	14	between	between	ADP
ftr-402	81	15	deductible	deductible	ADJ
ftr-402	81	16	payments	payment	NOUN
ftr-402	81	17	like	like	ADP
ftr-402	81	18	interest	interest	NOUN
ftr-402	81	19	and	and	CCONJ
ftr-402	81	20	nondeductible	nondeductible	ADJ
ftr-402	81	21	payment	payment	NOUN
ftr-402	81	22	like	like	ADP
ftr-402	81	23	dividends	dividend	NOUN
ftr-402	81	24	paid	pay	VERB
ftr-402	81	25	out	out	ADP
ftr-402	81	26	of	of	ADP
ftr-402	81	27	after	after	ADP
ftr-402	81	28	-	-	PUNCT
ftr-402	81	29	tax	tax	NOUN
ftr-402	81	30	income	income	NOUN
ftr-402	81	31	.	.	PUNCT
ftr-402	82	1	using	use	VERB
ftr-402	82	2	two	two	NUM
ftr-402	82	3	different	different	ADJ
ftr-402	82	4	bea	bea	PROPN
ftr-402	82	5	series	series	NOUN
ftr-402	82	6	,	,	PUNCT
ftr-402	82	7	we	we	PRON
ftr-402	82	8	conclude	conclude	VERB
ftr-402	82	9	that	that	SCONJ
ftr-402	82	10	approximately	approximately	ADV
ftr-402	82	11	40	40	NUM
ftr-402	82	12	%	%	NOUN
ftr-402	82	13	of	of	ADP
ftr-402	82	14	the	the	DET
ftr-402	82	15	growth	growth	NOUN
ftr-402	82	16	of	of	ADP
ftr-402	82	17	intercompany	intercompany	NOUN
ftr-402	82	18	income	income	NOUN
ftr-402	82	19	was	be	AUX
ftr-402	82	20	in	in	ADP
ftr-402	82	21	the	the	DET
ftr-402	82	22	form	form	NOUN
ftr-402	82	23	of	of	ADP
ftr-402	82	24	payments	payment	NOUN
ftr-402	82	25	deductible	deductible	ADJ
ftr-402	82	26	in	in	ADP
ftr-402	82	27	the	the	DET
ftr-402	82	28	host	host	NOUN
ftr-402	82	29	country	country	NOUN
ftr-402	82	30	(	(	PUNCT
ftr-402	82	31	and	and	CCONJ
ftr-402	82	32	presumably	presumably	ADV
ftr-402	82	33	not	not	PART
ftr-402	82	34	taxable	taxable	ADJ
ftr-402	82	35	in	in	ADP
ftr-402	82	36	the	the	DET
ftr-402	82	37	receiving	receive	VERB
ftr-402	82	38	country	country	NOUN
ftr-402	82	39	)	)	PUNCT
ftr-402	82	40	.	.	PUNCT
ftr-402	83	1	we	we	PRON
ftr-402	83	2	therefore	therefore	ADV
ftr-402	83	3	estimate	estimate	VERB
ftr-402	83	4	that	that	SCONJ
ftr-402	83	5	the	the	DET
ftr-402	83	6	multinational	multinational	ADJ
ftr-402	83	7	corporations	corporation	NOUN
ftr-402	83	8	saved	save	VERB
ftr-402	83	9	about	about	ADV
ftr-402	83	10	$	$	SYM
ftr-402	83	11	7	7	NUM
ftr-402	83	12	billion	billion	NUM
ftr-402	83	13	in	in	ADP
ftr-402	83	14	taxes	taxis	NOUN
ftr-402	83	15	in	in	ADP
ftr-402	83	16	2002	2002	NUM
ftr-402	83	17	compared	compare	VERB
ftr-402	83	18	to	to	ADP
ftr-402	83	19	what	what	PRON
ftr-402	83	20	they	they	PRON
ftr-402	83	21	would	would	AUX
ftr-402	83	22	have	have	AUX
ftr-402	83	23	paid	pay	VERB
ftr-402	83	24	if	if	SCONJ
ftr-402	83	25	they	they	PRON
ftr-402	83	26	continued	continue	VERB
ftr-402	83	27	to	to	PART
ftr-402	83	28	behave	behave	VERB
ftr-402	83	29	the	the	DET
ftr-402	83	30	same	same	ADJ
ftr-402	83	31	way	way	NOUN
ftr-402	83	32	as	as	ADP
ftr-402	83	33	in	in	ADP
ftr-402	83	34	1997	1997	NUM
ftr-402	83	35	.	.	PUNCT
ftr-402	84	1	this	this	PRON
ftr-402	84	2	is	be	AUX
ftr-402	84	3	about	about	ADV
ftr-402	84	4	4	4	NUM
ftr-402	84	5	%	%	NOUN
ftr-402	84	6	of	of	ADP
ftr-402	84	7	foreign	foreign	ADJ
ftr-402	84	8	direct	direct	ADJ
ftr-402	84	9	investment	investment	NOUN
ftr-402	84	10	income	income	NOUN
ftr-402	84	11	and	and	CCONJ
ftr-402	84	12	more	more	ADJ
ftr-402	84	13	than	than	ADP
ftr-402	84	14	15	15	NUM
ftr-402	84	15	%	%	NOUN
ftr-402	84	16	of	of	ADP
ftr-402	84	17	total	total	ADJ
ftr-402	84	18	host	host	NOUN
ftr-402	84	19	country	country	NOUN
ftr-402	84	20	tax	tax	NOUN
ftr-402	84	21	burdens	burden	NOUN
ftr-402	84	22	.	.	PUNCT
ftr-402	85	1	this	this	PRON
ftr-402	85	2	shows	show	VERB
ftr-402	85	3	that	that	SCONJ
ftr-402	85	4	a	a	DET
ftr-402	85	5	large	large	ADJ
ftr-402	85	6	component	component	NOUN
ftr-402	85	7	of	of	ADP
ftr-402	85	8	the	the	DET
ftr-402	85	9	falling	fall	VERB
ftr-402	85	10	burdens	burden	NOUN
ftr-402	85	11	on	on	ADP
ftr-402	85	12	mobile	mobile	ADJ
ftr-402	85	13	capital	capital	NOUN
ftr-402	85	14	can	can	AUX
ftr-402	85	15	be	be	AUX
ftr-402	85	16	missed	miss	VERB
ftr-402	85	17	if	if	SCONJ
ftr-402	85	18	the	the	DET
ftr-402	85	19	tax	tax	NOUN
ftr-402	85	20	planning	planning	NOUN
ftr-402	85	21	by	by	ADP
ftr-402	85	22	the	the	DET
ftr-402	85	23	companies	company	NOUN
ftr-402	85	24	and	and	CCONJ
ftr-402	85	25	the	the	DET
ftr-402	85	26	home	home	NOUN
ftr-402	85	27	and	and	CCONJ
ftr-402	85	28	host	host	NOUN
ftr-402	85	29	country	country	NOUN
ftr-402	85	30	policies	policy	NOUN
ftr-402	85	31	that	that	PRON
ftr-402	85	32	permit	permit	VERB
ftr-402	85	33	this	this	DET
ftr-402	85	34	planning	planning	NOUN
ftr-402	85	35	are	be	AUX
ftr-402	85	36	ignored	ignore	VERB
ftr-402	85	37	.	.	PUNCT
ftr-402	85	38	ii	ii	PROPN
ftr-402	85	39	.	.	PUNCT
ftr-402	86	1	the	the	DET
ftr-402	86	2	u.s	u.s	PROPN
ftr-402	86	3	.	.	PROPN
ftr-402	86	4	rules	rule	NOUN
ftr-402	86	5	for	for	ADP
ftr-402	86	6	taxing	tax	VERB
ftr-402	86	7	foreign	foreign	ADJ
ftr-402	86	8	income	income	NOUN
ftr-402	86	9	and	and	CCONJ
ftr-402	86	10	the	the	DET
ftr-402	86	11	new	new	ADJ
ftr-402	86	12	planning	planning	NOUN
ftr-402	86	13	structures	structure	NOUN
ftr-402	86	14	the	the	DET
ftr-402	86	15	united	united	PROPN
ftr-402	86	16	states	states	PROPN
ftr-402	86	17	imposes	impose	VERB
ftr-402	86	18	the	the	DET
ftr-402	86	19	corporate	corporate	ADJ
ftr-402	86	20	tax	tax	NOUN
ftr-402	86	21	on	on	ADP
ftr-402	86	22	all	all	PRON
ftr-402	86	23	repatriated	repatriate	VERB
ftr-402	86	24	foreign	foreign	ADJ
ftr-402	86	25	income	income	NOUN
ftr-402	86	26	,	,	PUNCT
ftr-402	86	27	which	which	PRON
ftr-402	86	28	includes	include	VERB
ftr-402	86	29	not	not	PART
ftr-402	86	30	only	only	ADV
ftr-402	86	31	dividends	dividend	NOUN
ftr-402	86	32	but	but	CCONJ
ftr-402	86	33	also	also	ADV
ftr-402	86	34	interest	interest	NOUN
ftr-402	86	35	,	,	PUNCT
ftr-402	86	36	royalties	royalty	NOUN
ftr-402	86	37	and	and	CCONJ
ftr-402	86	38	other	other	ADJ
ftr-402	86	39	foreign	foreign	ADJ
ftr-402	86	40	payments	payment	NOUN
ftr-402	86	41	such	such	ADJ
ftr-402	86	42	as	as	ADP
ftr-402	86	43	compensation	compensation	NOUN
ftr-402	86	44	for	for	ADP
ftr-402	86	45	services	service	NOUN
ftr-402	86	46	performed	perform	VERB
ftr-402	86	47	abroad	abroad	ADV
ftr-402	86	48	.	.	PUNCT
ftr-402	87	1	the	the	DET
ftr-402	87	2	tentative	tentative	ADJ
ftr-402	87	3	u.s	u.s	PROPN
ftr-402	87	4	.	.	PROPN
ftr-402	87	5	tax	tax	NOUN
ftr-402	87	6	can	can	AUX
ftr-402	87	7	be	be	AUX
ftr-402	87	8	reduced	reduce	VERB
ftr-402	87	9	because	because	SCONJ
ftr-402	87	10	of	of	ADP
ftr-402	87	11	credits	credit	NOUN
ftr-402	87	12	granted	grant	VERB
ftr-402	87	13	for	for	ADP
ftr-402	87	14	foreign	foreign	ADJ
ftr-402	87	15	income	income	NOUN
ftr-402	87	16	taxes	taxis	NOUN
ftr-402	87	17	paid	pay	VERB
ftr-402	87	18	,	,	PUNCT
ftr-402	87	19	including	include	VERB
ftr-402	87	20	the	the	DET
ftr-402	87	21	underlying	underlying	ADJ
ftr-402	87	22	corporate	corporate	ADJ
ftr-402	87	23	tax	tax	NOUN
ftr-402	87	24	paid	pay	VERB
ftr-402	87	25	on	on	ADP
ftr-402	87	26	direct	direct	ADJ
ftr-402	87	27	investment	investment	NOUN
ftr-402	87	28	abroad	abroad	ADV
ftr-402	87	29	,	,	PUNCT
ftr-402	87	30	but	but	CCONJ
ftr-402	87	31	the	the	DET
ftr-402	87	32	credit	credit	NOUN
ftr-402	87	33	is	be	AUX
ftr-402	87	34	limited	limit	VERB
ftr-402	87	35	to	to	ADP
ftr-402	87	36	what	what	PRON
ftr-402	87	37	the	the	DET
ftr-402	87	38	u.s	u.s	PROPN
ftr-402	87	39	.	.	PROPN
ftr-402	87	40	tax	tax	NOUN
ftr-402	87	41	would	would	AUX
ftr-402	87	42	have	have	AUX
ftr-402	87	43	been	be	AUX
ftr-402	87	44	on	on	ADP
ftr-402	87	45	the	the	DET
ftr-402	87	46	foreign	foreign	ADJ
ftr-402	87	47	income	income	NOUN
ftr-402	87	48	.	.	PUNCT
ftr-402	88	1	the	the	DET
ftr-402	88	2	repatriation	repatriation	NOUN
ftr-402	88	3	of	of	ADP
ftr-402	88	4	net	net	ADJ
ftr-402	88	5	active	active	ADJ
ftr-402	88	6	business	business	NOUN
ftr-402	88	7	income	income	NOUN
ftr-402	88	8	can	can	AUX
ftr-402	88	9	be	be	AUX
ftr-402	88	10	deferred	defer	VERB
ftr-402	88	11	but	but	CCONJ
ftr-402	88	12	this	this	DET
ftr-402	88	13	deferral	deferral	ADJ
ftr-402	88	14	privilege	privilege	NOUN
ftr-402	88	15	is	be	AUX
ftr-402	88	16	not	not	PART
ftr-402	88	17	extended	extend	VERB
ftr-402	88	18	to	to	ADP
ftr-402	88	19	certain	certain	ADJ
ftr-402	88	20	types	type	NOUN
ftr-402	88	21	of	of	ADP
ftr-402	88	22	“	"	PUNCT
ftr-402	88	23	tainted	tainted	ADJ
ftr-402	88	24	”	"	PUNCT
ftr-402	88	25	income	income	NOUN
ftr-402	88	26	under	under	ADP
ftr-402	88	27	what	what	PRON
ftr-402	88	28	are	be	AUX
ftr-402	88	29	generally	generally	ADV
ftr-402	88	30	referred	refer	VERB
ftr-402	88	31	to	to	ADP
ftr-402	88	32	as	as	ADP
ftr-402	88	33	controlled	control	VERB
ftr-402	88	34	foreign	foreign	ADJ
ftr-402	88	35	corporation	corporation	NOUN
ftr-402	88	36	(	(	PUNCT
ftr-402	88	37	cfc	cfc	PROPN
ftr-402	88	38	)	)	PUNCT
ftr-402	88	39	rules	rule	NOUN
ftr-402	88	40	.	.	PUNCT
ftr-402	89	1	this	this	DET
ftr-402	89	2	tainted	tainted	ADJ
ftr-402	89	3	income	income	NOUN
ftr-402	89	4	includes	include	VERB
ftr-402	89	5	passive	passive	ADJ
ftr-402	89	6	portfolio	portfolio	NOUN
ftr-402	89	7	income	income	NOUN
ftr-402	89	8	and	and	CCONJ
ftr-402	89	9	the	the	DET
ftr-402	89	10	payment	payment	NOUN
ftr-402	89	11	of	of	ADP
ftr-402	89	12	interest	interest	NOUN
ftr-402	89	13	,	,	PUNCT
ftr-402	89	14	dividends	dividend	NOUN
ftr-402	89	15	and	and	CCONJ
ftr-402	89	16	royalties	royalty	NOUN
ftr-402	89	17	from	from	ADP
ftr-402	89	18	one	one	NUM
ftr-402	89	19	cfc	cfc	NOUN
ftr-402	89	20	to	to	ADP
ftr-402	89	21	a	a	DET
ftr-402	89	22	cfc	cfc	NOUN
ftr-402	89	23	in	in	ADP
ftr-402	89	24	another	another	DET
ftr-402	89	25	jurisdiction	jurisdiction	NOUN
ftr-402	89	26	.	.	PUNCT
ftr-402	90	1	prior	prior	ADV
ftr-402	90	2	to	to	ADP
ftr-402	90	3	1997	1997	NUM
ftr-402	90	4	,	,	PUNCT
ftr-402	90	5	u.s	u.s	PROPN
ftr-402	90	6	.	.	PROPN
ftr-402	90	7	companies	company	NOUN
ftr-402	90	8	could	could	AUX
ftr-402	90	9	not	not	PART
ftr-402	90	10	therefore	therefore	ADV
ftr-402	90	11	benefit	benefit	VERB
ftr-402	90	12	from	from	ADP
ftr-402	90	13	a	a	DET
ftr-402	90	14	tax	tax	NOUN
ftr-402	90	15	haven	haven	NOUN
ftr-402	90	16	finance	finance	NOUN
ftr-402	90	17	subsidiary	subsidiary	NOUN
ftr-402	90	18	.	.	PUNCT
ftr-402	91	1	in	in	ADP
ftr-402	91	2	that	that	DET
ftr-402	91	3	scheme	scheme	NOUN
ftr-402	91	4	,	,	PUNCT
ftr-402	91	5	equity	equity	NOUN
ftr-402	91	6	is	be	AUX
ftr-402	91	7	injected	inject	VERB
ftr-402	91	8	into	into	ADP
ftr-402	91	9	a	a	DET
ftr-402	91	10	tax	tax	NOUN
ftr-402	91	11	haven	haven	NOUN
ftr-402	91	12	company	company	NOUN
ftr-402	91	13	which	which	PRON
ftr-402	91	14	then	then	ADV
ftr-402	91	15	lends	lend	VERB
ftr-402	91	16	to	to	ADP
ftr-402	91	17	a	a	DET
ftr-402	91	18	high	high	ADJ
ftr-402	91	19	-	-	PUNCT
ftr-402	91	20	tax	tax	NOUN
ftr-402	91	21	subsidiary	subsidiary	NOUN
ftr-402	91	22	.	.	PUNCT
ftr-402	92	1	the	the	DET
ftr-402	92	2	high	high	ADJ
ftr-402	92	3	-	-	PUNCT
ftr-402	92	4	tax	tax	NOUN
ftr-402	92	5	subsidiary	subsidiary	NOUN
ftr-402	92	6	then	then	ADV
ftr-402	92	7	pays	pay	VERB
ftr-402	92	8	156	156	NUM
ftr-402	92	9	florida	florida	PROPN
ftr-402	92	10	tax	tax	NOUN
ftr-402	92	11	review	review	NOUN
ftr-402	93	1	[	[	X
ftr-402	93	2	vol.7:3	vol.7:3	NOUN
ftr-402	93	3	2	2	NUM
ftr-402	93	4	.	.	PUNCT
ftr-402	93	5	another	another	DET
ftr-402	93	6	way	way	NOUN
ftr-402	93	7	in	in	ADP
ftr-402	93	8	which	which	PRON
ftr-402	93	9	home	home	NOUN
ftr-402	93	10	countries	country	NOUN
ftr-402	93	11	increase	increase	VERB
ftr-402	93	12	the	the	DET
ftr-402	93	13	competitiveness	competitiveness	NOUN
ftr-402	93	14	of	of	ADP
ftr-402	93	15	their	their	PRON
ftr-402	93	16	companies	company	NOUN
ftr-402	93	17	is	be	AUX
ftr-402	93	18	by	by	ADP
ftr-402	93	19	not	not	PART
ftr-402	93	20	requiring	require	VERB
ftr-402	93	21	them	they	PRON
ftr-402	93	22	to	to	PART
ftr-402	93	23	allocate	allocate	VERB
ftr-402	93	24	overhead	overhead	ADJ
ftr-402	93	25	expenses	expense	NOUN
ftr-402	93	26	to	to	ADP
ftr-402	93	27	foreign	foreign	ADJ
ftr-402	93	28	income	income	NOUN
ftr-402	93	29	.	.	PUNCT
ftr-402	94	1	thus	thus	ADV
ftr-402	94	2	a	a	DET
ftr-402	94	3	company	company	NOUN
ftr-402	94	4	can	can	AUX
ftr-402	94	5	borrow	borrow	VERB
ftr-402	94	6	at	at	ADP
ftr-402	94	7	home	home	NOUN
ftr-402	94	8	and	and	CCONJ
ftr-402	94	9	invest	invest	VERB
ftr-402	94	10	equity	equity	NOUN
ftr-402	94	11	in	in	ADP
ftr-402	94	12	a	a	DET
ftr-402	94	13	low	low	ADJ
ftr-402	94	14	-	-	PUNCT
ftr-402	94	15	tax	tax	NOUN
ftr-402	94	16	jurisdiction	jurisdiction	NOUN
ftr-402	94	17	,	,	PUNCT
ftr-402	94	18	thereby	thereby	ADV
ftr-402	94	19	receiving	receive	VERB
ftr-402	94	20	a	a	DET
ftr-402	94	21	tax	tax	NOUN
ftr-402	94	22	deduction	deduction	NOUN
ftr-402	94	23	for	for	ADP
ftr-402	94	24	the	the	DET
ftr-402	94	25	interest	interest	NOUN
ftr-402	94	26	while	while	SCONJ
ftr-402	94	27	paying	pay	VERB
ftr-402	94	28	little	little	ADJ
ftr-402	94	29	or	or	CCONJ
ftr-402	94	30	no	no	PRON
ftr-402	94	31	tax	tax	NOUN
ftr-402	94	32	on	on	ADP
ftr-402	94	33	its	its	PRON
ftr-402	94	34	earnings	earning	NOUN
ftr-402	94	35	.	.	PUNCT
ftr-402	95	1	among	among	ADP
ftr-402	95	2	the	the	DET
ftr-402	95	3	oecd	oecd	PROPN
ftr-402	95	4	countries	country	NOUN
ftr-402	95	5	,	,	PUNCT
ftr-402	95	6	only	only	ADV
ftr-402	95	7	the	the	DET
ftr-402	95	8	united	united	PROPN
ftr-402	95	9	states	states	PROPN
ftr-402	95	10	makes	make	VERB
ftr-402	95	11	a	a	DET
ftr-402	95	12	serious	serious	ADJ
ftr-402	95	13	effort	effort	NOUN
ftr-402	95	14	to	to	PART
ftr-402	95	15	require	require	VERB
ftr-402	95	16	interest	interest	NOUN
ftr-402	95	17	allocations	allocation	NOUN
ftr-402	95	18	,	,	PUNCT
ftr-402	95	19	and	and	CCONJ
ftr-402	95	20	that	that	PRON
ftr-402	95	21	is	be	AUX
ftr-402	95	22	incomplete	incomplete	ADJ
ftr-402	95	23	because	because	SCONJ
ftr-402	95	24	it	it	PRON
ftr-402	95	25	operates	operate	VERB
ftr-402	95	26	only	only	ADV
ftr-402	95	27	through	through	ADP
ftr-402	95	28	the	the	DET
ftr-402	95	29	foreign	foreign	ADJ
ftr-402	95	30	tax	tax	NOUN
ftr-402	95	31	credit	credit	NOUN
ftr-402	95	32	limitation	limitation	NOUN
ftr-402	95	33	.	.	PUNCT
ftr-402	96	1	interest	interest	NOUN
ftr-402	96	2	which	which	PRON
ftr-402	96	3	is	be	AUX
ftr-402	96	4	deductible	deductible	ADJ
ftr-402	96	5	against	against	ADP
ftr-402	96	6	local	local	ADJ
ftr-402	96	7	taxable	taxable	ADJ
ftr-402	96	8	income	income	NOUN
ftr-402	96	9	to	to	ADP
ftr-402	96	10	its	its	PRON
ftr-402	96	11	tax	tax	NOUN
ftr-402	96	12	haven	haven	NOUN
ftr-402	96	13	affiliate	affiliate	NOUN
ftr-402	96	14	.	.	PUNCT
ftr-402	97	1	the	the	DET
ftr-402	97	2	1997	1997	NUM
ftr-402	97	3	regulations	regulation	NOUN
ftr-402	97	4	introduced	introduce	VERB
ftr-402	97	5	“	"	PUNCT
ftr-402	97	6	hybrid	hybrid	ADJ
ftr-402	97	7	entities	entity	NOUN
ftr-402	97	8	”	"	PUNCT
ftr-402	97	9	which	which	PRON
ftr-402	97	10	allowed	allow	VERB
ftr-402	97	11	u.s	u.s	PROPN
ftr-402	97	12	.	.	PROPN
ftr-402	97	13	companies	company	NOUN
ftr-402	97	14	to	to	PART
ftr-402	97	15	avoid	avoid	VERB
ftr-402	97	16	the	the	DET
ftr-402	97	17	current	current	ADJ
ftr-402	97	18	tax	tax	NOUN
ftr-402	97	19	under	under	ADP
ftr-402	97	20	the	the	DET
ftr-402	97	21	cfc	cfc	PROPN
ftr-402	97	22	rules	rule	NOUN
ftr-402	97	23	on	on	ADP
ftr-402	97	24	intercompany	intercompany	NOUN
ftr-402	97	25	payments	payment	NOUN
ftr-402	97	26	like	like	ADP
ftr-402	97	27	interest	interest	NOUN
ftr-402	97	28	and	and	CCONJ
ftr-402	97	29	royalties	royalty	NOUN
ftr-402	97	30	.	.	PUNCT
ftr-402	98	1	(	(	PUNCT
ftr-402	98	2	these	these	DET
ftr-402	98	3	regulations	regulation	NOUN
ftr-402	98	4	are	be	AUX
ftr-402	98	5	sometimes	sometimes	ADV
ftr-402	98	6	referred	refer	VERB
ftr-402	98	7	to	to	ADP
ftr-402	98	8	as	as	ADP
ftr-402	98	9	“	"	PUNCT
ftr-402	98	10	check	check	VERB
ftr-402	98	11	-	-	PUNCT
ftr-402	98	12	the	the	DET
ftr-402	98	13	-	-	PUNCT
ftr-402	98	14	box	box	NOUN
ftr-402	98	15	”	"	PUNCT
ftr-402	98	16	because	because	SCONJ
ftr-402	98	17	they	they	PRON
ftr-402	98	18	gave	give	VERB
ftr-402	98	19	companies	company	NOUN
ftr-402	98	20	the	the	DET
ftr-402	98	21	freedom	freedom	NOUN
ftr-402	98	22	to	to	PART
ftr-402	98	23	either	either	CCONJ
ftr-402	98	24	identify	identify	VERB
ftr-402	98	25	an	an	DET
ftr-402	98	26	entity	entity	NOUN
ftr-402	98	27	as	as	ADP
ftr-402	98	28	a	a	DET
ftr-402	98	29	separate	separate	ADJ
ftr-402	98	30	corporation	corporation	NOUN
ftr-402	98	31	or	or	CCONJ
ftr-402	98	32	to	to	AUX
ftr-402	98	33	“	"	PUNCT
ftr-402	98	34	disregard	disregard	VERB
ftr-402	98	35	”	"	PUNCT
ftr-402	98	36	it	it	PRON
ftr-402	98	37	as	as	ADP
ftr-402	98	38	the	the	DET
ftr-402	98	39	unincorporated	unincorporated	ADJ
ftr-402	98	40	branch	branch	NOUN
ftr-402	98	41	of	of	ADP
ftr-402	98	42	another	another	DET
ftr-402	98	43	corporation	corporation	NOUN
ftr-402	98	44	by	by	ADP
ftr-402	98	45	simply	simply	ADV
ftr-402	98	46	checking	check	VERB
ftr-402	98	47	the	the	DET
ftr-402	98	48	box	box	NOUN
ftr-402	98	49	on	on	ADP
ftr-402	98	50	a	a	DET
ftr-402	98	51	tax	tax	NOUN
ftr-402	98	52	form	form	NOUN
ftr-402	98	53	.	.	PUNCT
ftr-402	98	54	)	)	PUNCT
ftr-402	99	1	hybrid	hybrid	ADJ
ftr-402	99	2	entities	entity	NOUN
ftr-402	99	3	are	be	AUX
ftr-402	99	4	business	business	NOUN
ftr-402	99	5	operations	operation	NOUN
ftr-402	99	6	that	that	PRON
ftr-402	99	7	are	be	AUX
ftr-402	99	8	regarded	regard	VERB
ftr-402	99	9	as	as	ADP
ftr-402	99	10	corporations	corporation	NOUN
ftr-402	99	11	by	by	ADP
ftr-402	99	12	one	one	NUM
ftr-402	99	13	country	country	NOUN
ftr-402	99	14	while	while	SCONJ
ftr-402	99	15	being	be	AUX
ftr-402	99	16	an	an	DET
ftr-402	99	17	unincorporated	unincorporated	ADJ
ftr-402	99	18	branch	branch	NOUN
ftr-402	99	19	to	to	ADP
ftr-402	99	20	another	another	PRON
ftr-402	99	21	.	.	PUNCT
ftr-402	100	1	in	in	ADP
ftr-402	100	2	the	the	DET
ftr-402	100	3	tax	tax	NOUN
ftr-402	100	4	haven	haven	NOUN
ftr-402	100	5	finance	finance	NOUN
ftr-402	100	6	affiliate	affiliate	NOUN
ftr-402	100	7	example	example	NOUN
ftr-402	100	8	,	,	PUNCT
ftr-402	100	9	the	the	DET
ftr-402	100	10	mnc	mnc	PROPN
ftr-402	100	11	could	could	AUX
ftr-402	100	12	report	report	VERB
ftr-402	100	13	to	to	ADP
ftr-402	100	14	the	the	DET
ftr-402	100	15	u.s	u.s	PROPN
ftr-402	100	16	.	.	PROPN
ftr-402	100	17	treasury	treasury	PROPN
ftr-402	100	18	that	that	SCONJ
ftr-402	100	19	the	the	DET
ftr-402	100	20	high	high	ADJ
ftr-402	100	21	-	-	PUNCT
ftr-402	100	22	tax	tax	NOUN
ftr-402	100	23	affiliate	affiliate	NOUN
ftr-402	100	24	is	be	AUX
ftr-402	100	25	really	really	ADV
ftr-402	100	26	an	an	DET
ftr-402	100	27	unincorporated	unincorporated	ADJ
ftr-402	100	28	branch	branch	NOUN
ftr-402	100	29	of	of	ADP
ftr-402	100	30	the	the	DET
ftr-402	100	31	tax	tax	NOUN
ftr-402	100	32	haven	haven	NOUN
ftr-402	100	33	company	company	NOUN
ftr-402	100	34	from	from	ADP
ftr-402	100	35	which	which	PRON
ftr-402	100	36	it	it	PRON
ftr-402	100	37	has	have	AUX
ftr-402	100	38	borrowed	borrow	VERB
ftr-402	100	39	.	.	PUNCT
ftr-402	101	1	the	the	DET
ftr-402	101	2	affiliate	affiliate	NOUN
ftr-402	101	3	is	be	AUX
ftr-402	101	4	still	still	ADV
ftr-402	101	5	regarded	regard	VERB
ftr-402	101	6	as	as	ADP
ftr-402	101	7	a	a	DET
ftr-402	101	8	corporation	corporation	NOUN
ftr-402	101	9	by	by	ADP
ftr-402	101	10	the	the	DET
ftr-402	101	11	high	high	ADJ
ftr-402	101	12	-	-	PUNCT
ftr-402	101	13	tax	tax	NOUN
ftr-402	101	14	host	host	NOUN
ftr-402	101	15	country	country	NOUN
ftr-402	101	16	which	which	PRON
ftr-402	101	17	grants	grant	VERB
ftr-402	101	18	a	a	DET
ftr-402	101	19	deduction	deduction	NOUN
ftr-402	101	20	for	for	ADP
ftr-402	101	21	the	the	DET
ftr-402	101	22	interest	interest	NOUN
ftr-402	101	23	going	go	VERB
ftr-402	101	24	to	to	ADP
ftr-402	101	25	the	the	DET
ftr-402	101	26	tax	tax	NOUN
ftr-402	101	27	haven	haven	NOUN
ftr-402	101	28	but	but	CCONJ
ftr-402	101	29	the	the	DET
ftr-402	101	30	transaction	transaction	NOUN
ftr-402	101	31	is	be	AUX
ftr-402	101	32	invisible	invisible	ADJ
ftr-402	101	33	to	to	ADP
ftr-402	101	34	the	the	DET
ftr-402	101	35	u.s	u.s	PROPN
ftr-402	101	36	.	.	PROPN
ftr-402	101	37	treasury	treasury	PROPN
ftr-402	101	38	which	which	PRON
ftr-402	101	39	regards	regard	VERB
ftr-402	101	40	the	the	DET
ftr-402	101	41	combined	combine	VERB
ftr-402	101	42	tax	tax	NOUN
ftr-402	101	43	haven	haven	NOUN
ftr-402	101	44	-	-	PUNCT
ftr-402	101	45	high	high	ADJ
ftr-402	101	46	-	-	PUNCT
ftr-402	101	47	tax	tax	NOUN
ftr-402	101	48	operation	operation	NOUN
ftr-402	101	49	as	as	ADP
ftr-402	101	50	one	one	NUM
ftr-402	101	51	consolidated	consolidated	ADJ
ftr-402	101	52	corporation	corporation	NOUN
ftr-402	101	53	.	.	PUNCT
ftr-402	102	1	the	the	DET
ftr-402	102	2	interest	interest	NOUN
ftr-402	102	3	payment	payment	NOUN
ftr-402	102	4	therefore	therefore	ADV
ftr-402	102	5	escapes	escape	VERB
ftr-402	102	6	the	the	DET
ftr-402	102	7	cfc	cfc	PROPN
ftr-402	102	8	rules	rule	NOUN
ftr-402	102	9	and	and	CCONJ
ftr-402	102	10	the	the	DET
ftr-402	102	11	company	company	NOUN
ftr-402	102	12	can	can	AUX
ftr-402	102	13	defer	defer	VERB
ftr-402	102	14	the	the	DET
ftr-402	102	15	income	income	NOUN
ftr-402	102	16	in	in	ADP
ftr-402	102	17	the	the	DET
ftr-402	102	18	tax	tax	NOUN
ftr-402	102	19	haven	haven	NOUN
ftr-402	102	20	.	.	PUNCT
ftr-402	103	1	the	the	DET
ftr-402	103	2	interest	interest	NOUN
ftr-402	103	3	is	be	AUX
ftr-402	103	4	not	not	PART
ftr-402	103	5	taxed	tax	VERB
ftr-402	103	6	anywhere	anywhere	ADV
ftr-402	103	7	.	.	PUNCT
ftr-402	104	1	this	this	DET
ftr-402	104	2	example	example	NOUN
ftr-402	104	3	illustrates	illustrate	VERB
ftr-402	104	4	that	that	SCONJ
ftr-402	104	5	“	"	PUNCT
ftr-402	104	6	standard	standard	ADJ
ftr-402	104	7	”	"	PUNCT
ftr-402	104	8	host	host	NOUN
ftr-402	104	9	country	country	NOUN
ftr-402	104	10	effective	effective	ADJ
ftr-402	104	11	tax	tax	NOUN
ftr-402	104	12	rates	rate	NOUN
ftr-402	104	13	do	do	AUX
ftr-402	104	14	not	not	PART
ftr-402	104	15	convey	convey	VERB
ftr-402	104	16	the	the	DET
ftr-402	104	17	complete	complete	ADJ
ftr-402	104	18	picture	picture	NOUN
ftr-402	104	19	in	in	ADP
ftr-402	104	20	any	any	DET
ftr-402	104	21	analysis	analysis	NOUN
ftr-402	104	22	of	of	ADP
ftr-402	104	23	the	the	DET
ftr-402	104	24	race	race	NOUN
ftr-402	104	25	to	to	ADP
ftr-402	104	26	the	the	DET
ftr-402	104	27	bottom	bottom	NOUN
ftr-402	104	28	.	.	PUNCT
ftr-402	105	1	what	what	PRON
ftr-402	105	2	makes	make	VERB
ftr-402	105	3	the	the	DET
ftr-402	105	4	use	use	NOUN
ftr-402	105	5	of	of	ADP
ftr-402	105	6	these	these	DET
ftr-402	105	7	new	new	ADJ
ftr-402	105	8	planning	planning	NOUN
ftr-402	105	9	structures	structure	NOUN
ftr-402	105	10	difficult	difficult	ADJ
ftr-402	105	11	to	to	PART
ftr-402	105	12	identify	identify	VERB
ftr-402	105	13	in	in	ADP
ftr-402	105	14	the	the	DET
ftr-402	105	15	data	data	NOUN
ftr-402	105	16	is	be	AUX
ftr-402	105	17	that	that	SCONJ
ftr-402	105	18	the	the	DET
ftr-402	105	19	mnc	mnc	PROPN
ftr-402	105	20	can	can	AUX
ftr-402	105	21	elect	elect	VERB
ftr-402	105	22	to	to	PART
ftr-402	105	23	have	have	VERB
ftr-402	105	24	either	either	CCONJ
ftr-402	105	25	the	the	DET
ftr-402	105	26	high	high	ADJ
ftr-402	105	27	-	-	PUNCT
ftr-402	105	28	tax	tax	NOUN
ftr-402	105	29	corporation	corporation	NOUN
ftr-402	105	30	or	or	CCONJ
ftr-402	105	31	its	its	PRON
ftr-402	105	32	tax	tax	NOUN
ftr-402	105	33	haven	haven	NOUN
ftr-402	105	34	sibling	sible	VERB
ftr-402	105	35	disappear	disappear	VERB
ftr-402	105	36	.	.	PUNCT
ftr-402	106	1	in	in	ADP
ftr-402	106	2	its	its	PRON
ftr-402	106	3	reports	report	NOUN
ftr-402	106	4	to	to	ADP
ftr-402	106	5	the	the	DET
ftr-402	106	6	treasury	treasury	NOUN
ftr-402	106	7	,	,	PUNCT
ftr-402	106	8	the	the	DET
ftr-402	106	9	surviving	survive	VERB
ftr-402	106	10	consolidated	consolidated	ADJ
ftr-402	106	11	corporation	corporation	NOUN
ftr-402	106	12	can	can	AUX
ftr-402	106	13	be	be	AUX
ftr-402	106	14	listed	list	VERB
ftr-402	106	15	as	as	SCONJ
ftr-402	106	16	incorporated	incorporate	VERB
ftr-402	106	17	in	in	ADP
ftr-402	106	18	either	either	CCONJ
ftr-402	106	19	the	the	DET
ftr-402	106	20	high	high	ADJ
ftr-402	106	21	-	-	PUNCT
ftr-402	106	22	tax	tax	NOUN
ftr-402	106	23	location	location	NOUN
ftr-402	106	24	or	or	CCONJ
ftr-402	106	25	the	the	DET
ftr-402	106	26	tax	tax	NOUN
ftr-402	106	27	haven	haven	NOUN
ftr-402	106	28	.	.	PUNCT
ftr-402	107	1	it	it	PRON
ftr-402	107	2	will	will	AUX
ftr-402	107	3	therefore	therefore	ADV
ftr-402	107	4	be	be	AUX
ftr-402	107	5	necessary	necessary	ADJ
ftr-402	107	6	to	to	PART
ftr-402	107	7	piece	piece	VERB
ftr-402	107	8	together	together	ADV
ftr-402	107	9	different	different	ADJ
ftr-402	107	10	types	type	NOUN
ftr-402	107	11	of	of	ADP
ftr-402	107	12	data	datum	NOUN
ftr-402	107	13	to	to	PART
ftr-402	107	14	get	get	VERB
ftr-402	107	15	a	a	DET
ftr-402	107	16	more	more	ADV
ftr-402	107	17	comprehensive	comprehensive	ADJ
ftr-402	107	18	picture	picture	NOUN
ftr-402	107	19	.	.	PUNCT
ftr-402	108	1	why	why	SCONJ
ftr-402	108	2	would	would	AUX
ftr-402	108	3	a	a	DET
ftr-402	108	4	home	home	NOUN
ftr-402	108	5	country	country	NOUN
ftr-402	108	6	allow	allow	VERB
ftr-402	108	7	this	this	DET
ftr-402	108	8	kind	kind	NOUN
ftr-402	108	9	of	of	ADP
ftr-402	108	10	method	method	NOUN
ftr-402	108	11	of	of	ADP
ftr-402	108	12	stripping	strip	VERB
ftr-402	108	13	income	income	NOUN
ftr-402	108	14	from	from	ADP
ftr-402	108	15	a	a	DET
ftr-402	108	16	high	high	ADJ
ftr-402	108	17	-	-	PUNCT
ftr-402	108	18	tax	tax	NOUN
ftr-402	108	19	location	location	NOUN
ftr-402	108	20	to	to	ADP
ftr-402	108	21	a	a	DET
ftr-402	108	22	tax	tax	NOUN
ftr-402	108	23	haven	haven	NOUN
ftr-402	108	24	?	?	PUNCT
ftr-402	109	1	it	it	PRON
ftr-402	109	2	depends	depend	VERB
ftr-402	109	3	on	on	ADP
ftr-402	109	4	its	its	PRON
ftr-402	109	5	judgment	judgment	NOUN
ftr-402	109	6	on	on	ADP
ftr-402	109	7	the	the	DET
ftr-402	109	8	consequences	consequence	NOUN
ftr-402	109	9	of	of	ADP
ftr-402	109	10	lowering	lower	VERB
ftr-402	109	11	the	the	DET
ftr-402	109	12	tax	tax	NOUN
ftr-402	109	13	burden	burden	NOUN
ftr-402	109	14	on	on	ADP
ftr-402	109	15	its	its	PRON
ftr-402	109	16	companies	company	NOUN
ftr-402	109	17	in	in	ADP
ftr-402	109	18	the	the	DET
ftr-402	109	19	high	high	ADJ
ftr-402	109	20	-	-	PUNCT
ftr-402	109	21	tax	tax	NOUN
ftr-402	109	22	location	location	NOUN
ftr-402	109	23	.	.	PUNCT
ftr-402	110	1	if	if	SCONJ
ftr-402	110	2	its	its	PRON
ftr-402	110	3	home	home	NOUN
ftr-402	110	4	-	-	PUNCT
ftr-402	110	5	based	base	VERB
ftr-402	110	6	companies	company	NOUN
ftr-402	110	7	now	now	ADV
ftr-402	110	8	shift	shift	VERB
ftr-402	110	9	to	to	ADP
ftr-402	110	10	the	the	DET
ftr-402	110	11	high	high	ADJ
ftr-402	110	12	-	-	PUNCT
ftr-402	110	13	tax	tax	NOUN
ftr-402	110	14	location	location	NOUN
ftr-402	110	15	from	from	ADP
ftr-402	110	16	foreign	foreign	ADJ
ftr-402	110	17	low	low	ADJ
ftr-402	110	18	-	-	PUNCT
ftr-402	110	19	tax	tax	NOUN
ftr-402	110	20	locations	location	NOUN
ftr-402	110	21	,	,	PUNCT
ftr-402	110	22	from	from	ADP
ftr-402	110	23	ireland	ireland	PROPN
ftr-402	110	24	to	to	ADP
ftr-402	110	25	germany	germany	PROPN
ftr-402	110	26	for	for	ADP
ftr-402	110	27	example	example	NOUN
ftr-402	110	28	,	,	PUNCT
ftr-402	110	29	both	both	CCONJ
ftr-402	110	30	the	the	DET
ftr-402	110	31	world	world	NOUN
ftr-402	110	32	and	and	CCONJ
ftr-402	110	33	the	the	DET
ftr-402	110	34	home	home	NOUN
ftr-402	110	35	country	country	NOUN
ftr-402	110	36	are	be	AUX
ftr-402	110	37	better	well	ADJ
ftr-402	110	38	off	off	ADV
ftr-402	110	39	.	.	PUNCT
ftr-402	111	1	capital	capital	NOUN
ftr-402	111	2	has	have	AUX
ftr-402	111	3	moved	move	VERB
ftr-402	111	4	to	to	ADP
ftr-402	111	5	a	a	DET
ftr-402	111	6	location	location	NOUN
ftr-402	111	7	with	with	ADP
ftr-402	111	8	a	a	DET
ftr-402	111	9	higher	high	ADJ
ftr-402	111	10	pre	pre	NOUN
ftr-402	111	11	-	-	NOUN
ftr-402	111	12	tax	tax	ADJ
ftr-402	111	13	return.2	return.2	NOUN
ftr-402	111	14	the	the	DET
ftr-402	111	15	high	high	ADJ
ftr-402	111	16	-	-	PUNCT
ftr-402	111	17	tax	tax	NOUN
ftr-402	111	18	host	host	NOUN
ftr-402	111	19	country	country	NOUN
ftr-402	111	20	could	could	AUX
ftr-402	111	21	resist	resist	VERB
ftr-402	111	22	this	this	DET
ftr-402	111	23	income	income	NOUN
ftr-402	111	24	stripping	strip	VERB
ftr-402	111	25	strategy	strategy	NOUN
ftr-402	111	26	by	by	ADP
ftr-402	111	27	enforcing	enforce	VERB
ftr-402	111	28	“	"	PUNCT
ftr-402	111	29	thin	thin	ADJ
ftr-402	111	30	capitalization	capitalization	NOUN
ftr-402	111	31	”	"	PUNCT
ftr-402	111	32	rules	rule	NOUN
ftr-402	111	33	which	which	PRON
ftr-402	111	34	limit	limit	VERB
ftr-402	111	35	the	the	DET
ftr-402	111	36	extent	extent	NOUN
ftr-402	111	37	to	to	PART
ftr-402	111	38	which	which	PRON
ftr-402	111	39	a	a	DET
ftr-402	111	40	company	company	NOUN
ftr-402	111	41	can	can	AUX
ftr-402	111	42	leverage	leverage	VERB
ftr-402	111	43	itself	itself	PRON
ftr-402	111	44	up	up	ADP
ftr-402	111	45	,	,	PUNCT
ftr-402	111	46	particularly	particularly	ADV
ftr-402	111	47	when	when	SCONJ
ftr-402	111	48	the	the	DET
ftr-402	111	49	interest	interest	NOUN
ftr-402	111	50	is	be	AUX
ftr-402	111	51	paid	pay	VERB
ftr-402	111	52	to	to	ADP
ftr-402	111	53	related	related	ADJ
ftr-402	111	54	parties	party	NOUN
ftr-402	111	55	2005	2005	NUM
ftr-402	111	56	]	]	PUNCT
ftr-402	111	57	the	the	DET
ftr-402	111	58	three	three	NUM
ftr-402	111	59	parties	party	NOUN
ftr-402	111	60	in	in	ADP
ftr-402	111	61	the	the	DET
ftr-402	111	62	race	race	NOUN
ftr-402	111	63	to	to	ADP
ftr-402	111	64	the	the	DET
ftr-402	111	65	bottom	bottom	NOUN
ftr-402	111	66	157	157	NUM
ftr-402	111	67	offshore	offshore	ADV
ftr-402	111	68	.	.	PUNCT
ftr-402	112	1	but	but	CCONJ
ftr-402	112	2	it	it	PRON
ftr-402	112	3	may	may	AUX
ftr-402	112	4	not	not	PART
ftr-402	112	5	choose	choose	VERB
ftr-402	112	6	to	to	PART
ftr-402	112	7	do	do	VERB
ftr-402	112	8	so	so	ADV
ftr-402	112	9	as	as	ADP
ftr-402	112	10	a	a	DET
ftr-402	112	11	way	way	NOUN
ftr-402	112	12	of	of	ADP
ftr-402	112	13	discriminating	discriminate	VERB
ftr-402	112	14	in	in	ADP
ftr-402	112	15	favor	favor	NOUN
ftr-402	112	16	of	of	ADP
ftr-402	112	17	internationally	internationally	ADV
ftr-402	112	18	mobile	mobile	ADJ
ftr-402	112	19	companies	company	NOUN
ftr-402	112	20	that	that	PRON
ftr-402	112	21	can	can	AUX
ftr-402	112	22	take	take	VERB
ftr-402	112	23	advantage	advantage	NOUN
ftr-402	112	24	of	of	ADP
ftr-402	112	25	these	these	DET
ftr-402	112	26	income	income	NOUN
ftr-402	112	27	shifting	shift	VERB
ftr-402	112	28	strategies	strategy	NOUN
ftr-402	112	29	.	.	PUNCT
ftr-402	113	1	this	this	DET
ftr-402	113	2	example	example	NOUN
ftr-402	113	3	also	also	ADV
ftr-402	113	4	illustrates	illustrate	VERB
ftr-402	113	5	that	that	SCONJ
ftr-402	113	6	tax	tax	NOUN
ftr-402	113	7	competition	competition	NOUN
ftr-402	113	8	can	can	AUX
ftr-402	113	9	operate	operate	VERB
ftr-402	113	10	along	along	ADP
ftr-402	113	11	many	many	ADJ
ftr-402	113	12	dimensions	dimension	NOUN
ftr-402	113	13	,	,	PUNCT
ftr-402	113	14	not	not	PART
ftr-402	113	15	just	just	ADV
ftr-402	113	16	in	in	ADP
ftr-402	113	17	the	the	DET
ftr-402	113	18	lowering	lowering	NOUN
ftr-402	113	19	of	of	ADP
ftr-402	113	20	statutory	statutory	ADJ
ftr-402	113	21	corporate	corporate	ADJ
ftr-402	113	22	tax	tax	NOUN
ftr-402	113	23	rates	rate	NOUN
ftr-402	113	24	or	or	CCONJ
ftr-402	113	25	the	the	DET
ftr-402	113	26	granting	granting	NOUN
ftr-402	113	27	of	of	ADP
ftr-402	113	28	investment	investment	NOUN
ftr-402	113	29	credits	credit	NOUN
ftr-402	113	30	that	that	PRON
ftr-402	113	31	tend	tend	VERB
ftr-402	113	32	to	to	PART
ftr-402	113	33	get	get	VERB
ftr-402	113	34	the	the	DET
ftr-402	113	35	most	most	ADJ
ftr-402	113	36	attention	attention	NOUN
ftr-402	113	37	.	.	PUNCT
ftr-402	114	1	hybrid	hybrid	ADJ
ftr-402	114	2	entities	entity	NOUN
ftr-402	114	3	can	can	AUX
ftr-402	114	4	also	also	ADV
ftr-402	114	5	be	be	AUX
ftr-402	114	6	used	use	VERB
ftr-402	114	7	to	to	PART
ftr-402	114	8	route	route	VERB
ftr-402	114	9	dividends	dividend	NOUN
ftr-402	114	10	to	to	ADP
ftr-402	114	11	a	a	DET
ftr-402	114	12	holding	hold	VERB
ftr-402	114	13	company	company	NOUN
ftr-402	114	14	in	in	ADP
ftr-402	114	15	a	a	DET
ftr-402	114	16	country	country	NOUN
ftr-402	114	17	with	with	ADP
ftr-402	114	18	a	a	DET
ftr-402	114	19	favorable	favorable	ADJ
ftr-402	114	20	holding	hold	VERB
ftr-402	114	21	company	company	NOUN
ftr-402	114	22	regime	regime	NOUN
ftr-402	114	23	,	,	PUNCT
ftr-402	114	24	one	one	NUM
ftr-402	114	25	that	that	PRON
ftr-402	114	26	exempts	exempt	VERB
ftr-402	114	27	dividends	dividend	NOUN
ftr-402	114	28	and	and	CCONJ
ftr-402	114	29	has	have	VERB
ftr-402	114	30	an	an	DET
ftr-402	114	31	extensive	extensive	ADJ
ftr-402	114	32	tax	tax	NOUN
ftr-402	114	33	treaty	treaty	NOUN
ftr-402	114	34	network	network	NOUN
ftr-402	114	35	assuring	assure	VERB
ftr-402	114	36	low	low	ADJ
ftr-402	114	37	withholding	withholding	NOUN
ftr-402	114	38	taxes	taxis	NOUN
ftr-402	114	39	on	on	ADP
ftr-402	114	40	dividends	dividend	NOUN
ftr-402	114	41	.	.	PUNCT
ftr-402	115	1	multinational	multinational	ADJ
ftr-402	115	2	corporations	corporation	NOUN
ftr-402	115	3	frequently	frequently	ADV
ftr-402	115	4	find	find	VERB
ftr-402	115	5	it	it	PRON
ftr-402	115	6	convenient	convenient	ADJ
ftr-402	115	7	to	to	PART
ftr-402	115	8	organize	organize	VERB
ftr-402	115	9	their	their	PRON
ftr-402	115	10	foreign	foreign	ADJ
ftr-402	115	11	investments	investment	NOUN
ftr-402	115	12	through	through	ADP
ftr-402	115	13	holding	hold	VERB
ftr-402	115	14	companies	company	NOUN
ftr-402	115	15	.	.	PUNCT
ftr-402	116	1	inter	inter	ADJ
ftr-402	116	2	-	-	ADJ
ftr-402	116	3	affiliate	affiliate	NOUN
ftr-402	116	4	dividends	dividend	NOUN
ftr-402	116	5	can	can	AUX
ftr-402	116	6	also	also	ADV
ftr-402	116	7	be	be	AUX
ftr-402	116	8	used	use	VERB
ftr-402	116	9	to	to	PART
ftr-402	116	10	reduce	reduce	VERB
ftr-402	116	11	the	the	DET
ftr-402	116	12	u.s	u.s	PROPN
ftr-402	116	13	.	.	PROPN
ftr-402	116	14	residual	residual	ADJ
ftr-402	116	15	tax	tax	NOUN
ftr-402	116	16	on	on	ADP
ftr-402	116	17	repatriations	repatriation	NOUN
ftr-402	116	18	from	from	ADP
ftr-402	116	19	low	low	ADJ
ftr-402	116	20	-	-	PUNCT
ftr-402	116	21	tax	tax	NOUN
ftr-402	116	22	countries	country	NOUN
ftr-402	116	23	(	(	PUNCT
ftr-402	116	24	see	see	VERB
ftr-402	116	25	altshuler	altshuler	NOUN
ftr-402	116	26	and	and	CCONJ
ftr-402	116	27	grubert	grubert	NOUN
ftr-402	116	28	2003	2003	NUM
ftr-402	116	29	)	)	PUNCT
ftr-402	116	30	.	.	PUNCT
ftr-402	117	1	without	without	ADP
ftr-402	117	2	the	the	DET
ftr-402	117	3	use	use	NOUN
ftr-402	117	4	of	of	ADP
ftr-402	117	5	a	a	DET
ftr-402	117	6	hybrid	hybrid	ADJ
ftr-402	117	7	entity	entity	NOUN
ftr-402	117	8	,	,	PUNCT
ftr-402	117	9	the	the	DET
ftr-402	117	10	intercompany	intercompany	NOUN
ftr-402	117	11	dividends	dividend	NOUN
ftr-402	117	12	would	would	AUX
ftr-402	117	13	generally	generally	ADV
ftr-402	117	14	be	be	AUX
ftr-402	117	15	subject	subject	ADJ
ftr-402	117	16	to	to	ADP
ftr-402	117	17	current	current	ADJ
ftr-402	117	18	u.s	u.s	PROPN
ftr-402	117	19	.	.	PROPN
ftr-402	117	20	tax	tax	NOUN
ftr-402	117	21	.	.	PUNCT
ftr-402	118	1	hybrid	hybrid	ADJ
ftr-402	118	2	entities	entity	NOUN
ftr-402	118	3	make	make	VERB
ftr-402	118	4	them	they	PRON
ftr-402	118	5	invisible	invisible	ADJ
ftr-402	118	6	to	to	ADP
ftr-402	118	7	the	the	DET
ftr-402	118	8	u.s	u.s	PROPN
ftr-402	118	9	.	.	PROPN
ftr-402	118	10	treasury	treasury	PROPN
ftr-402	118	11	.	.	PUNCT
ftr-402	119	1	hybrids	hybrid	NOUN
ftr-402	119	2	can	can	AUX
ftr-402	119	3	thus	thus	ADV
ftr-402	119	4	be	be	AUX
ftr-402	119	5	used	use	VERB
ftr-402	119	6	to	to	PART
ftr-402	119	7	make	make	VERB
ftr-402	119	8	either	either	CCONJ
ftr-402	119	9	intercompany	intercompany	NOUN
ftr-402	119	10	payments	payment	NOUN
ftr-402	119	11	like	like	ADP
ftr-402	119	12	interest	interest	NOUN
ftr-402	119	13	and	and	CCONJ
ftr-402	119	14	royalties	royalty	NOUN
ftr-402	119	15	that	that	PRON
ftr-402	119	16	are	be	AUX
ftr-402	119	17	deductible	deductible	ADJ
ftr-402	119	18	from	from	ADP
ftr-402	119	19	host	host	NOUN
ftr-402	119	20	company	company	NOUN
ftr-402	119	21	taxable	taxable	ADJ
ftr-402	119	22	income	income	NOUN
ftr-402	119	23	,	,	PUNCT
ftr-402	119	24	or	or	CCONJ
ftr-402	119	25	dividends	dividend	NOUN
ftr-402	119	26	paid	pay	VERB
ftr-402	119	27	out	out	ADP
ftr-402	119	28	of	of	ADP
ftr-402	119	29	after	after	ADP
ftr-402	119	30	-	-	PUNCT
ftr-402	119	31	tax	tax	NOUN
ftr-402	119	32	equity	equity	NOUN
ftr-402	119	33	income	income	NOUN
ftr-402	119	34	.	.	PUNCT
ftr-402	120	1	as	as	ADP
ftr-402	120	2	a	a	DET
ftr-402	120	3	result	result	NOUN
ftr-402	120	4	,	,	PUNCT
ftr-402	120	5	these	these	DET
ftr-402	120	6	payments	payment	NOUN
ftr-402	120	7	can	can	AUX
ftr-402	120	8	have	have	VERB
ftr-402	120	9	differing	differ	VERB
ftr-402	120	10	implications	implication	NOUN
ftr-402	120	11	for	for	ADP
ftr-402	120	12	the	the	DET
ftr-402	120	13	tax	tax	NOUN
ftr-402	120	14	burden	burden	NOUN
ftr-402	120	15	on	on	ADP
ftr-402	120	16	foreign	foreign	ADJ
ftr-402	120	17	investment	investment	NOUN
ftr-402	120	18	.	.	PUNCT
ftr-402	121	1	distinguishing	distinguish	VERB
ftr-402	121	2	between	between	ADP
ftr-402	121	3	the	the	DET
ftr-402	121	4	two	two	NUM
ftr-402	121	5	will	will	AUX
ftr-402	121	6	become	become	VERB
ftr-402	121	7	an	an	DET
ftr-402	121	8	issue	issue	NOUN
ftr-402	121	9	when	when	SCONJ
ftr-402	121	10	we	we	PRON
ftr-402	121	11	attempt	attempt	VERB
ftr-402	121	12	to	to	PART
ftr-402	121	13	interpret	interpret	VERB
ftr-402	121	14	the	the	DET
ftr-402	121	15	significance	significance	NOUN
ftr-402	121	16	of	of	ADP
ftr-402	121	17	the	the	DET
ftr-402	121	18	growth	growth	NOUN
ftr-402	121	19	in	in	ADP
ftr-402	121	20	intercompany	intercompany	NOUN
ftr-402	121	21	payments	payment	NOUN
ftr-402	121	22	documented	document	VERB
ftr-402	121	23	in	in	ADP
ftr-402	121	24	the	the	DET
ftr-402	121	25	bureau	bureau	NOUN
ftr-402	121	26	of	of	ADP
ftr-402	121	27	economic	economic	ADJ
ftr-402	121	28	analysis	analysis	NOUN
ftr-402	121	29	surveys	survey	NOUN
ftr-402	121	30	.	.	PUNCT
ftr-402	122	1	(	(	PUNCT
ftr-402	122	2	these	these	PRON
ftr-402	122	3	differ	differ	VERB
ftr-402	122	4	from	from	ADP
ftr-402	122	5	the	the	DET
ftr-402	122	6	treasury	treasury	NOUN
ftr-402	122	7	data	datum	NOUN
ftr-402	122	8	in	in	ADP
ftr-402	122	9	that	that	SCONJ
ftr-402	122	10	they	they	PRON
ftr-402	122	11	keep	keep	VERB
ftr-402	122	12	the	the	DET
ftr-402	122	13	two	two	NUM
ftr-402	122	14	entities	entity	NOUN
ftr-402	122	15	that	that	PRON
ftr-402	122	16	are	be	AUX
ftr-402	122	17	combined	combine	VERB
ftr-402	122	18	in	in	ADP
ftr-402	122	19	the	the	DET
ftr-402	122	20	treasury	treasury	NOUN
ftr-402	122	21	data	datum	NOUN
ftr-402	122	22	as	as	ADP
ftr-402	122	23	separate	separate	ADJ
ftr-402	122	24	affiliates	affiliate	NOUN
ftr-402	122	25	.	.	PUNCT
ftr-402	122	26	)	)	PUNCT
ftr-402	123	1	a	a	DET
ftr-402	123	2	further	further	ADJ
ftr-402	123	3	use	use	NOUN
ftr-402	123	4	of	of	ADP
ftr-402	123	5	hybrid	hybrid	ADJ
ftr-402	123	6	entities	entity	NOUN
ftr-402	123	7	is	be	AUX
ftr-402	123	8	to	to	PART
ftr-402	123	9	shift	shift	VERB
ftr-402	123	10	income	income	NOUN
ftr-402	123	11	from	from	ADP
ftr-402	123	12	intellectual	intellectual	ADJ
ftr-402	123	13	property	property	NOUN
ftr-402	123	14	like	like	ADP
ftr-402	123	15	patents	patent	NOUN
ftr-402	123	16	to	to	PART
ftr-402	123	17	tax	tax	VERB
ftr-402	123	18	havens	haven	NOUN
ftr-402	123	19	by	by	ADP
ftr-402	123	20	making	make	VERB
ftr-402	123	21	the	the	DET
ftr-402	123	22	intercompany	intercompany	NOUN
ftr-402	123	23	payment	payment	NOUN
ftr-402	123	24	of	of	ADP
ftr-402	123	25	royalties	royalty	NOUN
ftr-402	123	26	invisible	invisible	ADJ
ftr-402	123	27	.	.	PUNCT
ftr-402	124	1	the	the	DET
ftr-402	124	2	tax	tax	NOUN
ftr-402	124	3	haven	haven	NOUN
ftr-402	124	4	entity	entity	NOUN
ftr-402	124	5	can	can	AUX
ftr-402	124	6	engage	engage	VERB
ftr-402	124	7	in	in	ADP
ftr-402	124	8	a	a	DET
ftr-402	124	9	cost	cost	NOUN
ftr-402	124	10	sharing	sharing	NOUN
ftr-402	124	11	agreement	agreement	NOUN
ftr-402	124	12	whereby	whereby	SCONJ
ftr-402	124	13	it	it	PRON
ftr-402	124	14	pays	pay	VERB
ftr-402	124	15	for	for	ADP
ftr-402	124	16	part	part	NOUN
ftr-402	124	17	of	of	ADP
ftr-402	124	18	the	the	DET
ftr-402	124	19	parent	parent	NOUN
ftr-402	124	20	’s	’s	PART
ftr-402	124	21	r&d	r&d	NOUN
ftr-402	124	22	project	project	NOUN
ftr-402	124	23	.	.	PUNCT
ftr-402	125	1	this	this	PRON
ftr-402	125	2	gives	give	VERB
ftr-402	125	3	it	it	PRON
ftr-402	125	4	the	the	DET
ftr-402	125	5	right	right	NOUN
ftr-402	125	6	to	to	PART
ftr-402	125	7	license	license	VERB
ftr-402	125	8	the	the	DET
ftr-402	125	9	resulting	result	VERB
ftr-402	125	10	technology	technology	NOUN
ftr-402	125	11	to	to	ADP
ftr-402	125	12	other	other	ADJ
ftr-402	125	13	foreign	foreign	ADJ
ftr-402	125	14	subsidiaries	subsidiary	NOUN
ftr-402	125	15	in	in	ADP
ftr-402	125	16	exchange	exchange	NOUN
ftr-402	125	17	for	for	ADP
ftr-402	125	18	royalty	royalty	NOUN
ftr-402	125	19	payments	payment	NOUN
ftr-402	125	20	.	.	PUNCT
ftr-402	126	1	because	because	SCONJ
ftr-402	126	2	the	the	DET
ftr-402	126	3	appropriate	appropriate	ADJ
ftr-402	126	4	cost	cost	NOUN
ftr-402	126	5	sharing	sharing	NOUN
ftr-402	126	6	payments	payment	NOUN
ftr-402	126	7	and	and	CCONJ
ftr-402	126	8	royalties	royalty	NOUN
ftr-402	126	9	are	be	AUX
ftr-402	126	10	very	very	ADV
ftr-402	126	11	uncertain	uncertain	ADJ
ftr-402	126	12	,	,	PUNCT
ftr-402	126	13	the	the	DET
ftr-402	126	14	mnc	mnc	PROPN
ftr-402	126	15	can	can	AUX
ftr-402	126	16	attempt	attempt	VERB
ftr-402	126	17	to	to	PART
ftr-402	126	18	underprice	underprice	VERB
ftr-402	126	19	the	the	DET
ftr-402	126	20	former	former	ADJ
ftr-402	126	21	and	and	CCONJ
ftr-402	126	22	overprice	overprice	VERB
ftr-402	126	23	the	the	DET
ftr-402	126	24	latter	latter	ADJ
ftr-402	126	25	,	,	PUNCT
ftr-402	126	26	leaving	leave	VERB
ftr-402	126	27	a	a	DET
ftr-402	126	28	large	large	ADJ
ftr-402	126	29	amount	amount	NOUN
ftr-402	126	30	of	of	ADP
ftr-402	126	31	income	income	NOUN
ftr-402	126	32	in	in	ADP
ftr-402	126	33	the	the	DET
ftr-402	126	34	tax	tax	NOUN
ftr-402	126	35	haven	haven	NOUN
ftr-402	126	36	.	.	PUNCT
ftr-402	127	1	the	the	DET
ftr-402	127	2	royalty	royalty	NOUN
ftr-402	127	3	payments	payment	NOUN
ftr-402	127	4	by	by	ADP
ftr-402	127	5	the	the	DET
ftr-402	127	6	high	high	ADJ
ftr-402	127	7	-	-	PUNCT
ftr-402	127	8	tax	tax	NOUN
ftr-402	127	9	affiliate	affiliate	NOUN
ftr-402	127	10	are	be	AUX
ftr-402	127	11	not	not	PART
ftr-402	127	12	subject	subject	ADJ
ftr-402	127	13	to	to	ADP
ftr-402	127	14	the	the	DET
ftr-402	127	15	anti	anti	ADJ
ftr-402	127	16	-	-	ADJ
ftr-402	127	17	abuse	abuse	ADJ
ftr-402	127	18	cfc	cfc	NOUN
ftr-402	127	19	rules	rule	NOUN
ftr-402	127	20	because	because	SCONJ
ftr-402	127	21	the	the	DET
ftr-402	127	22	tax	tax	NOUN
ftr-402	127	23	haven	haven	NOUN
ftr-402	127	24	entity	entity	NOUN
ftr-402	127	25	and	and	CCONJ
ftr-402	127	26	the	the	DET
ftr-402	127	27	high	high	ADJ
ftr-402	127	28	-	-	PUNCT
ftr-402	127	29	tax	tax	NOUN
ftr-402	127	30	affiliate	affiliate	NOUN
ftr-402	127	31	can	can	AUX
ftr-402	127	32	be	be	AUX
ftr-402	127	33	declared	declare	VERB
ftr-402	127	34	as	as	ADP
ftr-402	127	35	one	one	NUM
ftr-402	127	36	consolidated	consolidated	ADJ
ftr-402	127	37	incorporated	incorporated	ADJ
ftr-402	127	38	subsidiary	subsidiary	NOUN
ftr-402	127	39	.	.	PUNCT
ftr-402	128	1	hybrid	hybrid	ADJ
ftr-402	128	2	securities	security	NOUN
ftr-402	128	3	are	be	AUX
ftr-402	128	4	another	another	DET
ftr-402	128	5	planning	planning	NOUN
ftr-402	128	6	device	device	NOUN
ftr-402	128	7	that	that	PRON
ftr-402	128	8	can	can	AUX
ftr-402	128	9	sometimes	sometimes	ADV
ftr-402	128	10	achieve	achieve	VERB
ftr-402	128	11	the	the	DET
ftr-402	128	12	same	same	ADJ
ftr-402	128	13	results	result	NOUN
ftr-402	128	14	as	as	ADP
ftr-402	128	15	hybrid	hybrid	ADJ
ftr-402	128	16	entities	entity	NOUN
ftr-402	128	17	.	.	PUNCT
ftr-402	129	1	these	these	PRON
ftr-402	129	2	are	be	AUX
ftr-402	129	3	instruments	instrument	NOUN
ftr-402	129	4	that	that	PRON
ftr-402	129	5	are	be	AUX
ftr-402	129	6	regarded	regard	VERB
ftr-402	129	7	as	as	ADP
ftr-402	129	8	debt	debt	NOUN
ftr-402	129	9	by	by	ADP
ftr-402	129	10	the	the	DET
ftr-402	129	11	host	host	NOUN
ftr-402	129	12	country	country	NOUN
ftr-402	129	13	and	and	CCONJ
ftr-402	129	14	equity	equity	NOUN
ftr-402	129	15	by	by	ADP
ftr-402	129	16	the	the	DET
ftr-402	129	17	country	country	NOUN
ftr-402	129	18	to	to	PART
ftr-402	129	19	which	which	PRON
ftr-402	129	20	income	income	NOUN
ftr-402	129	21	payments	payment	NOUN
ftr-402	129	22	are	be	AUX
ftr-402	129	23	made	make	VERB
ftr-402	129	24	.	.	PUNCT
ftr-402	130	1	they	they	PRON
ftr-402	130	2	exploit	exploit	VERB
ftr-402	130	3	the	the	DET
ftr-402	130	4	difficulties	difficulty	NOUN
ftr-402	130	5	that	that	PRON
ftr-402	130	6	tax	tax	NOUN
ftr-402	130	7	authorities	authority	NOUN
ftr-402	130	8	have	have	VERB
ftr-402	130	9	in	in	ADP
ftr-402	130	10	determining	determine	VERB
ftr-402	130	11	the	the	DET
ftr-402	130	12	distinction	distinction	NOUN
ftr-402	130	13	between	between	ADP
ftr-402	130	14	tax	tax	NOUN
ftr-402	130	15	deductible	deductible	ADJ
ftr-402	130	16	debt	debt	NOUN
ftr-402	130	17	and	and	CCONJ
ftr-402	130	18	taxable	taxable	ADJ
ftr-402	130	19	equity	equity	NOUN
ftr-402	130	20	.	.	PUNCT
ftr-402	131	1	these	these	DET
ftr-402	131	2	hybrid	hybrid	ADJ
ftr-402	131	3	securities	security	NOUN
ftr-402	131	4	are	be	AUX
ftr-402	131	5	particularly	particularly	ADV
ftr-402	131	6	effective	effective	ADJ
ftr-402	131	7	in	in	ADP
ftr-402	131	8	saving	save	VERB
ftr-402	131	9	taxes	taxis	NOUN
ftr-402	131	10	when	when	SCONJ
ftr-402	131	11	the	the	DET
ftr-402	131	12	receiving	receive	VERB
ftr-402	131	13	country	country	NOUN
ftr-402	131	14	employs	employ	VERB
ftr-402	131	15	a	a	DET
ftr-402	131	16	dividend	dividend	NOUN
ftr-402	131	17	exemption	exemption	NOUN
ftr-402	131	18	or	or	CCONJ
ftr-402	131	19	a	a	DET
ftr-402	131	20	“	"	PUNCT
ftr-402	131	21	territorial	territorial	ADJ
ftr-402	131	22	”	"	PUNCT
ftr-402	131	23	system	system	NOUN
ftr-402	131	24	as	as	SCONJ
ftr-402	131	25	it	it	PRON
ftr-402	131	26	is	be	AUX
ftr-402	131	27	sometimes	sometimes	ADV
ftr-402	131	28	referred	refer	VERB
ftr-402	131	29	to	to	ADP
ftr-402	131	30	.	.	PUNCT
ftr-402	132	1	examples	example	NOUN
ftr-402	132	2	are	be	AUX
ftr-402	132	3	the	the	DET
ftr-402	132	4	netherlands	netherlands	PROPN
ftr-402	132	5	,	,	PUNCT
ftr-402	132	6	france	france	PROPN
ftr-402	132	7	and	and	CCONJ
ftr-402	132	8	canada	canada	PROPN
ftr-402	132	9	which	which	PRON
ftr-402	132	10	exempt	exempt	VERB
ftr-402	132	11	dividends	dividend	NOUN
ftr-402	132	12	paid	pay	VERB
ftr-402	132	13	from	from	ADP
ftr-402	132	14	an	an	DET
ftr-402	132	15	active	active	ADJ
ftr-402	132	16	direct	direct	ADJ
ftr-402	132	17	investment	investment	NOUN
ftr-402	132	18	abroad	abroad	ADV
ftr-402	132	19	.	.	PUNCT
ftr-402	133	1	thus	thus	ADV
ftr-402	133	2	a	a	DET
ftr-402	133	3	canadian	canadian	ADJ
ftr-402	133	4	company	company	NOUN
ftr-402	133	5	can	can	AUX
ftr-402	133	6	capitalize	capitalize	VERB
ftr-402	133	7	an	an	DET
ftr-402	133	8	operating	operate	VERB
ftr-402	133	9	subsidiary	subsidiary	NOUN
ftr-402	133	10	in	in	ADP
ftr-402	133	11	the	the	DET
ftr-402	133	12	united	united	PROPN
ftr-402	133	13	states	states	PROPN
ftr-402	133	14	158	158	NUM
ftr-402	133	15	florida	florida	PROPN
ftr-402	133	16	tax	tax	NOUN
ftr-402	133	17	review	review	NOUN
ftr-402	134	1	[	[	X
ftr-402	134	2	vol.7:3	vol.7:3	NOUN
ftr-402	134	3	with	with	ADP
ftr-402	134	4	a	a	DET
ftr-402	134	5	hybrid	hybrid	ADJ
ftr-402	134	6	security	security	NOUN
ftr-402	134	7	and	and	CCONJ
ftr-402	134	8	receive	receive	VERB
ftr-402	134	9	payments	payment	NOUN
ftr-402	134	10	that	that	PRON
ftr-402	134	11	are	be	AUX
ftr-402	134	12	deductible	deductible	ADJ
ftr-402	134	13	in	in	ADP
ftr-402	134	14	the	the	DET
ftr-402	134	15	united	united	PROPN
ftr-402	134	16	states	states	PROPN
ftr-402	134	17	but	but	CCONJ
ftr-402	134	18	exempt	exempt	ADJ
ftr-402	134	19	at	at	ADP
ftr-402	134	20	home	home	NOUN
ftr-402	134	21	.	.	PUNCT
ftr-402	135	1	once	once	ADV
ftr-402	135	2	again	again	ADV
ftr-402	135	3	the	the	DET
ftr-402	135	4	income	income	NOUN
ftr-402	135	5	completely	completely	ADV
ftr-402	135	6	escapes	escape	VERB
ftr-402	135	7	taxation	taxation	NOUN
ftr-402	135	8	at	at	ADP
ftr-402	135	9	the	the	DET
ftr-402	135	10	corporate	corporate	ADJ
ftr-402	135	11	level	level	NOUN
ftr-402	135	12	.	.	PUNCT
ftr-402	136	1	hybrid	hybrid	ADJ
ftr-402	136	2	securities	security	NOUN
ftr-402	136	3	can	can	AUX
ftr-402	136	4	be	be	AUX
ftr-402	136	5	combined	combine	VERB
ftr-402	136	6	with	with	ADP
ftr-402	136	7	hybrid	hybrid	ADJ
ftr-402	136	8	entities	entity	NOUN
ftr-402	136	9	to	to	PART
ftr-402	136	10	ensure	ensure	VERB
ftr-402	136	11	a	a	DET
ftr-402	136	12	deduction	deduction	NOUN
ftr-402	136	13	in	in	ADP
ftr-402	136	14	the	the	DET
ftr-402	136	15	paying	pay	VERB
ftr-402	136	16	host	host	NOUN
ftr-402	136	17	country	country	NOUN
ftr-402	136	18	,	,	PUNCT
ftr-402	136	19	no	no	DET
ftr-402	136	20	tax	tax	NOUN
ftr-402	136	21	in	in	ADP
ftr-402	136	22	the	the	DET
ftr-402	136	23	receiving	receive	VERB
ftr-402	136	24	foreign	foreign	ADJ
ftr-402	136	25	country	country	NOUN
ftr-402	136	26	and	and	CCONJ
ftr-402	136	27	no	no	DET
ftr-402	136	28	tax	tax	NOUN
ftr-402	136	29	by	by	ADP
ftr-402	136	30	the	the	DET
ftr-402	136	31	united	united	PROPN
ftr-402	136	32	states	states	PROPN
ftr-402	136	33	.	.	PUNCT
ftr-402	137	1	grubert	grubert	PROPN
ftr-402	137	2	(	(	PUNCT
ftr-402	137	3	2004	2004	NUM
ftr-402	137	4	)	)	PUNCT
ftr-402	137	5	addresses	address	VERB
ftr-402	137	6	the	the	DET
ftr-402	137	7	issue	issue	NOUN
ftr-402	137	8	of	of	ADP
ftr-402	137	9	how	how	SCONJ
ftr-402	137	10	company	company	NOUN
ftr-402	137	11	and	and	CCONJ
ftr-402	137	12	government	government	NOUN
ftr-402	137	13	behavior	behavior	NOUN
ftr-402	137	14	can	can	AUX
ftr-402	137	15	impact	impact	VERB
ftr-402	137	16	effective	effective	ADJ
ftr-402	137	17	tax	tax	NOUN
ftr-402	137	18	rates	rate	NOUN
ftr-402	137	19	.	.	PUNCT
ftr-402	138	1	he	he	PRON
ftr-402	138	2	shows	show	VERB
ftr-402	138	3	that	that	SCONJ
ftr-402	138	4	some	some	PRON
ftr-402	138	5	of	of	ADP
ftr-402	138	6	the	the	DET
ftr-402	138	7	most	most	ADV
ftr-402	138	8	important	important	ADJ
ftr-402	138	9	features	feature	NOUN
ftr-402	138	10	of	of	ADP
ftr-402	138	11	a	a	DET
ftr-402	138	12	home	home	NOUN
ftr-402	138	13	country	country	NOUN
ftr-402	138	14	tax	tax	NOUN
ftr-402	138	15	system	system	NOUN
ftr-402	138	16	for	for	ADP
ftr-402	138	17	determining	determine	VERB
ftr-402	138	18	the	the	DET
ftr-402	138	19	tax	tax	NOUN
ftr-402	138	20	burden	burden	NOUN
ftr-402	138	21	on	on	ADP
ftr-402	138	22	cross	cross	ADJ
ftr-402	138	23	-	-	ADJ
ftr-402	138	24	border	border	ADJ
ftr-402	138	25	investment	investment	NOUN
ftr-402	138	26	are	be	AUX
ftr-402	138	27	rules	rule	NOUN
ftr-402	138	28	that	that	SCONJ
ftr-402	138	29	either	either	CCONJ
ftr-402	138	30	limit	limit	VERB
ftr-402	138	31	or	or	CCONJ
ftr-402	138	32	accentuate	accentuate	VERB
ftr-402	138	33	the	the	DET
ftr-402	138	34	ability	ability	NOUN
ftr-402	138	35	of	of	ADP
ftr-402	138	36	firms	firm	NOUN
ftr-402	138	37	to	to	PART
ftr-402	138	38	use	use	VERB
ftr-402	138	39	self	self	NOUN
ftr-402	138	40	-	-	PUNCT
ftr-402	138	41	help	help	NOUN
ftr-402	138	42	techniques	technique	NOUN
ftr-402	138	43	to	to	PART
ftr-402	138	44	lower	lower	VERB
ftr-402	138	45	their	their	PRON
ftr-402	138	46	tax	tax	NOUN
ftr-402	138	47	burdens	burden	NOUN
ftr-402	138	48	.	.	PUNCT
ftr-402	139	1	for	for	ADP
ftr-402	139	2	example	example	NOUN
ftr-402	139	3	,	,	PUNCT
ftr-402	139	4	grubert	grubert	PROPN
ftr-402	139	5	’s	’s	PART
ftr-402	139	6	work	work	NOUN
ftr-402	139	7	demonstrates	demonstrate	VERB
ftr-402	139	8	that	that	SCONJ
ftr-402	139	9	whether	whether	SCONJ
ftr-402	139	10	companies	company	NOUN
ftr-402	139	11	can	can	AUX
ftr-402	139	12	use	use	VERB
ftr-402	139	13	tax	tax	NOUN
ftr-402	139	14	haven	haven	NOUN
ftr-402	139	15	finance	finance	NOUN
ftr-402	139	16	subsidiaries	subsidiary	NOUN
ftr-402	139	17	or	or	CCONJ
ftr-402	139	18	other	other	ADJ
ftr-402	139	19	aggressive	aggressive	ADJ
ftr-402	139	20	planning	planning	NOUN
ftr-402	139	21	schemes	scheme	NOUN
ftr-402	139	22	can	can	AUX
ftr-402	139	23	have	have	VERB
ftr-402	139	24	a	a	DET
ftr-402	139	25	profound	profound	ADJ
ftr-402	139	26	impact	impact	NOUN
ftr-402	139	27	on	on	ADP
ftr-402	139	28	effective	effective	ADJ
ftr-402	139	29	tax	tax	NOUN
ftr-402	139	30	rates	rate	NOUN
ftr-402	139	31	for	for	ADP
ftr-402	139	32	investments	investment	NOUN
ftr-402	139	33	abroad	abroad	ADV
ftr-402	139	34	.	.	PUNCT
ftr-402	140	1	these	these	DET
ftr-402	140	2	rules	rule	NOUN
ftr-402	140	3	are	be	AUX
ftr-402	140	4	shown	show	VERB
ftr-402	140	5	to	to	PART
ftr-402	140	6	have	have	VERB
ftr-402	140	7	a	a	DET
ftr-402	140	8	much	much	ADV
ftr-402	140	9	larger	large	ADJ
ftr-402	140	10	impact	impact	NOUN
ftr-402	140	11	on	on	ADP
ftr-402	140	12	tax	tax	NOUN
ftr-402	140	13	burdens	burden	NOUN
ftr-402	140	14	for	for	ADP
ftr-402	140	15	foreign	foreign	ADJ
ftr-402	140	16	investment	investment	NOUN
ftr-402	140	17	than	than	ADP
ftr-402	140	18	those	those	PRON
ftr-402	140	19	relating	relate	VERB
ftr-402	140	20	to	to	ADP
ftr-402	140	21	whether	whether	SCONJ
ftr-402	140	22	foreign	foreign	ADJ
ftr-402	140	23	income	income	NOUN
ftr-402	140	24	is	be	AUX
ftr-402	140	25	exempt	exempt	ADJ
ftr-402	140	26	from	from	ADP
ftr-402	140	27	home	home	NOUN
ftr-402	140	28	country	country	NOUN
ftr-402	140	29	taxation	taxation	NOUN
ftr-402	140	30	,	,	PUNCT
ftr-402	140	31	for	for	ADP
ftr-402	140	32	example	example	NOUN
ftr-402	140	33	.	.	PUNCT
ftr-402	141	1	iii	iii	X
ftr-402	141	2	.	.	PUNCT
ftr-402	141	3	data	datum	NOUN
ftr-402	141	4	sources	source	NOUN
ftr-402	141	5	the	the	DET
ftr-402	141	6	principal	principal	ADJ
ftr-402	141	7	data	datum	NOUN
ftr-402	141	8	source	source	NOUN
ftr-402	141	9	for	for	ADP
ftr-402	141	10	this	this	DET
ftr-402	141	11	paper	paper	NOUN
ftr-402	141	12	is	be	AUX
ftr-402	141	13	the	the	DET
ftr-402	141	14	treasury	treasury	PROPN
ftr-402	141	15	tax	tax	NOUN
ftr-402	141	16	files	file	NOUN
ftr-402	141	17	for	for	ADP
ftr-402	141	18	u.s	u.s	PROPN
ftr-402	141	19	.	.	PROPN
ftr-402	141	20	multinational	multinational	ADJ
ftr-402	141	21	corporations	corporation	NOUN
ftr-402	141	22	,	,	PUNCT
ftr-402	141	23	in	in	ADP
ftr-402	141	24	particular	particular	ADJ
ftr-402	141	25	the	the	DET
ftr-402	141	26	form	form	NOUN
ftr-402	141	27	5471	5471	NUM
ftr-402	141	28	which	which	PRON
ftr-402	141	29	every	every	DET
ftr-402	141	30	u.s	u.s	PROPN
ftr-402	141	31	.	.	PROPN
ftr-402	141	32	parent	parent	NOUN
ftr-402	141	33	company	company	NOUN
ftr-402	141	34	has	have	VERB
ftr-402	141	35	to	to	PART
ftr-402	141	36	file	file	VERB
ftr-402	141	37	for	for	ADP
ftr-402	141	38	each	each	PRON
ftr-402	141	39	of	of	ADP
ftr-402	141	40	its	its	PRON
ftr-402	141	41	controlled	control	VERB
ftr-402	141	42	foreign	foreign	ADJ
ftr-402	141	43	corporations	corporation	NOUN
ftr-402	141	44	.	.	PUNCT
ftr-402	142	1	this	this	DET
ftr-402	142	2	form	form	NOUN
ftr-402	142	3	provides	provide	VERB
ftr-402	142	4	information	information	NOUN
ftr-402	142	5	on	on	ADP
ftr-402	142	6	the	the	DET
ftr-402	142	7	cfc	cfc	PROPN
ftr-402	142	8	’s	’s	PART
ftr-402	142	9	country	country	NOUN
ftr-402	142	10	of	of	ADP
ftr-402	142	11	incorporation	incorporation	NOUN
ftr-402	142	12	,	,	PUNCT
ftr-402	142	13	and	and	CCONJ
ftr-402	142	14	its	its	PRON
ftr-402	142	15	sales	sale	NOUN
ftr-402	142	16	,	,	PUNCT
ftr-402	142	17	assets	asset	NOUN
ftr-402	142	18	and	and	CCONJ
ftr-402	142	19	inter	inter	ADJ
ftr-402	142	20	-	-	ADJ
ftr-402	142	21	company	company	ADJ
ftr-402	142	22	transactions	transaction	NOUN
ftr-402	142	23	with	with	ADP
ftr-402	142	24	related	related	ADJ
ftr-402	142	25	parties	party	NOUN
ftr-402	142	26	.	.	PUNCT
ftr-402	143	1	it	it	PRON
ftr-402	143	2	also	also	ADV
ftr-402	143	3	contains	contain	VERB
ftr-402	143	4	information	information	NOUN
ftr-402	143	5	on	on	ADP
ftr-402	143	6	foreign	foreign	ADJ
ftr-402	143	7	income	income	NOUN
ftr-402	143	8	taxes	taxis	NOUN
ftr-402	143	9	paid	pay	VERB
ftr-402	143	10	and	and	CCONJ
ftr-402	143	11	a	a	DET
ftr-402	143	12	measure	measure	NOUN
ftr-402	143	13	of	of	ADP
ftr-402	143	14	net	net	ADJ
ftr-402	143	15	income	income	NOUN
ftr-402	143	16	defined	define	VERB
ftr-402	143	17	in	in	ADP
ftr-402	143	18	the	the	DET
ftr-402	143	19	internal	internal	ADJ
ftr-402	143	20	revenue	revenue	NOUN
ftr-402	143	21	code	code	NOUN
ftr-402	143	22	,	,	PUNCT
ftr-402	143	23	referred	refer	VERB
ftr-402	143	24	to	to	ADP
ftr-402	143	25	as	as	ADP
ftr-402	143	26	earnings	earning	NOUN
ftr-402	143	27	and	and	CCONJ
ftr-402	143	28	profits	profit	NOUN
ftr-402	143	29	,	,	PUNCT
ftr-402	143	30	which	which	PRON
ftr-402	143	31	approximates	approximate	VERB
ftr-402	143	32	book	book	NOUN
ftr-402	143	33	income	income	NOUN
ftr-402	143	34	,	,	PUNCT
ftr-402	143	35	not	not	PART
ftr-402	143	36	local	local	ADJ
ftr-402	143	37	taxable	taxable	ADJ
ftr-402	143	38	income	income	NOUN
ftr-402	143	39	.	.	PUNCT
ftr-402	144	1	it	it	PRON
ftr-402	144	2	is	be	AUX
ftr-402	144	3	therefore	therefore	ADV
ftr-402	144	4	possible	possible	ADJ
ftr-402	144	5	to	to	PART
ftr-402	144	6	compute	compute	VERB
ftr-402	144	7	a	a	DET
ftr-402	144	8	consistent	consistent	ADJ
ftr-402	144	9	effective	effective	ADJ
ftr-402	144	10	tax	tax	NOUN
ftr-402	144	11	rate	rate	NOUN
ftr-402	144	12	measure	measure	NOUN
ftr-402	144	13	both	both	PRON
ftr-402	144	14	for	for	ADP
ftr-402	144	15	the	the	DET
ftr-402	144	16	country	country	NOUN
ftr-402	144	17	as	as	ADP
ftr-402	144	18	a	a	DET
ftr-402	144	19	whole	whole	NOUN
ftr-402	144	20	or	or	CCONJ
ftr-402	144	21	for	for	ADP
ftr-402	144	22	the	the	DET
ftr-402	144	23	individual	individual	ADJ
ftr-402	144	24	subsidiary	subsidiary	NOUN
ftr-402	144	25	.	.	PUNCT
ftr-402	145	1	in	in	ADP
ftr-402	145	2	addition	addition	NOUN
ftr-402	145	3	the	the	DET
ftr-402	145	4	basic	basic	ADJ
ftr-402	145	5	corporate	corporate	ADJ
ftr-402	145	6	tax	tax	NOUN
ftr-402	145	7	return	return	NOUN
ftr-402	145	8	,	,	PUNCT
ftr-402	145	9	form	form	NOUN
ftr-402	145	10	1120	1120	NUM
ftr-402	145	11	,	,	PUNCT
ftr-402	145	12	is	be	AUX
ftr-402	145	13	used	use	VERB
ftr-402	145	14	for	for	ADP
ftr-402	145	15	various	various	ADJ
ftr-402	145	16	parent	parent	NOUN
ftr-402	145	17	characteristics	characteristic	NOUN
ftr-402	145	18	such	such	ADJ
ftr-402	145	19	as	as	ADP
ftr-402	145	20	r&d	r&d	NOUN
ftr-402	145	21	intensity	intensity	NOUN
ftr-402	145	22	.	.	PUNCT
ftr-402	146	1	the	the	DET
ftr-402	146	2	surveys	survey	NOUN
ftr-402	146	3	of	of	ADP
ftr-402	146	4	foreign	foreign	ADJ
ftr-402	146	5	direct	direct	ADJ
ftr-402	146	6	investment	investment	NOUN
ftr-402	146	7	published	publish	VERB
ftr-402	146	8	by	by	ADP
ftr-402	146	9	the	the	DET
ftr-402	146	10	bureau	bureau	NOUN
ftr-402	146	11	of	of	ADP
ftr-402	146	12	economic	economic	ADJ
ftr-402	146	13	analysis	analysis	NOUN
ftr-402	146	14	in	in	ADP
ftr-402	146	15	the	the	DET
ftr-402	146	16	commerce	commerce	PROPN
ftr-402	146	17	department	department	PROPN
ftr-402	146	18	are	be	AUX
ftr-402	146	19	an	an	DET
ftr-402	146	20	alternative	alternative	ADJ
ftr-402	146	21	data	datum	NOUN
ftr-402	146	22	source	source	NOUN
ftr-402	146	23	for	for	ADP
ftr-402	146	24	studying	study	VERB
ftr-402	146	25	mnc	mnc	PROPN
ftr-402	146	26	behavior	behavior	NOUN
ftr-402	146	27	.	.	PUNCT
ftr-402	147	1	they	they	PRON
ftr-402	147	2	are	be	AUX
ftr-402	147	3	a	a	DET
ftr-402	147	4	useful	useful	ADJ
ftr-402	147	5	supplement	supplement	NOUN
ftr-402	147	6	to	to	ADP
ftr-402	147	7	the	the	DET
ftr-402	147	8	treasury	treasury	PROPN
ftr-402	147	9	data	datum	NOUN
ftr-402	147	10	because	because	SCONJ
ftr-402	147	11	they	they	PRON
ftr-402	147	12	define	define	VERB
ftr-402	147	13	foreign	foreign	ADJ
ftr-402	147	14	affiliate	affiliate	NOUN
ftr-402	147	15	income	income	NOUN
ftr-402	147	16	earned	earn	VERB
ftr-402	147	17	in	in	ADP
ftr-402	147	18	a	a	DET
ftr-402	147	19	particular	particular	ADJ
ftr-402	147	20	location	location	NOUN
ftr-402	147	21	in	in	ADP
ftr-402	147	22	a	a	DET
ftr-402	147	23	different	different	ADJ
ftr-402	147	24	,	,	PUNCT
ftr-402	147	25	and	and	CCONJ
ftr-402	147	26	sometimes	sometimes	ADV
ftr-402	147	27	more	more	ADV
ftr-402	147	28	convenient	convenient	ADJ
ftr-402	147	29	,	,	PUNCT
ftr-402	147	30	way	way	NOUN
ftr-402	147	31	.	.	PUNCT
ftr-402	148	1	iv	iv	X
ftr-402	148	2	.	.	PUNCT
ftr-402	148	3	country	country	NOUN
ftr-402	148	4	average	average	ADJ
ftr-402	148	5	effective	effective	ADJ
ftr-402	148	6	tax	tax	NOUN
ftr-402	148	7	rates	rate	NOUN
ftr-402	148	8	,	,	PUNCT
ftr-402	148	9	1980	1980	NUM
ftr-402	148	10	-	-	SYM
ftr-402	148	11	2000	2000	NUM
ftr-402	148	12	table	table	NOUN
ftr-402	148	13	1	1	NUM
ftr-402	148	14	presents	present	VERB
ftr-402	148	15	the	the	DET
ftr-402	148	16	means	mean	NOUN
ftr-402	148	17	and	and	CCONJ
ftr-402	148	18	standard	standard	ADJ
ftr-402	148	19	deviations	deviation	NOUN
ftr-402	148	20	of	of	ADP
ftr-402	148	21	average	average	ADJ
ftr-402	148	22	effective	effective	ADJ
ftr-402	148	23	tax	tax	NOUN
ftr-402	148	24	rates	rate	NOUN
ftr-402	148	25	for	for	ADP
ftr-402	148	26	u.s	u.s	PROPN
ftr-402	148	27	.	.	PROPN
ftr-402	148	28	manufacturing	manufacturing	NOUN
ftr-402	148	29	subsidiaries	subsidiary	NOUN
ftr-402	148	30	in	in	ADP
ftr-402	148	31	58	58	NUM
ftr-402	148	32	countries	country	NOUN
ftr-402	148	33	.	.	PUNCT
ftr-402	149	1	host	host	NOUN
ftr-402	149	2	country	country	NOUN
ftr-402	149	3	average	average	ADJ
ftr-402	149	4	effective	effective	ADJ
ftr-402	149	5	tax	tax	NOUN
ftr-402	149	6	rates	rate	NOUN
ftr-402	149	7	are	be	AUX
ftr-402	149	8	calculated	calculate	VERB
ftr-402	149	9	by	by	ADP
ftr-402	149	10	dividing	divide	VERB
ftr-402	149	11	the	the	DET
ftr-402	149	12	total	total	ADJ
ftr-402	149	13	income	income	NOUN
ftr-402	149	14	taxes	taxis	NOUN
ftr-402	149	15	paid	pay	VERB
ftr-402	149	16	by	by	ADP
ftr-402	149	17	u.s	u.s	PROPN
ftr-402	149	18	.	.	PROPN
ftr-402	149	19	cfcs	cfc	VERB
ftr-402	149	20	in	in	ADP
ftr-402	149	21	the	the	DET
ftr-402	149	22	manufacturing	manufacturing	NOUN
ftr-402	149	23	sector	sector	NOUN
ftr-402	149	24	by	by	ADP
ftr-402	149	25	their	their	PRON
ftr-402	149	26	total	total	ADJ
ftr-402	149	27	earnings	earning	NOUN
ftr-402	149	28	and	and	CCONJ
ftr-402	149	29	profits	profit	NOUN
ftr-402	149	30	(	(	PUNCT
ftr-402	149	31	only	only	ADV
ftr-402	149	32	cfcs	cfc	VERB
ftr-402	149	33	with	with	ADP
ftr-402	149	34	positive	positive	ADJ
ftr-402	149	35	earnings	earning	NOUN
ftr-402	149	36	and	and	CCONJ
ftr-402	149	37	profits	profit	NOUN
ftr-402	149	38	are	be	AUX
ftr-402	149	39	included	include	VERB
ftr-402	149	40	in	in	ADP
ftr-402	149	41	the	the	DET
ftr-402	149	42	totals	total	NOUN
ftr-402	149	43	)	)	PUNCT
ftr-402	149	44	.	.	PUNCT
ftr-402	150	1	the	the	DET
ftr-402	150	2	global	global	ADJ
ftr-402	150	3	means	mean	NOUN
ftr-402	150	4	for	for	ADP
ftr-402	150	5	each	each	DET
ftr-402	150	6	year	year	NOUN
ftr-402	150	7	presented	present	VERB
ftr-402	150	8	in	in	ADP
ftr-402	150	9	the	the	DET
ftr-402	150	10	table	table	NOUN
ftr-402	150	11	are	be	AUX
ftr-402	150	12	an	an	DET
ftr-402	150	13	average	average	NOUN
ftr-402	150	14	of	of	ADP
ftr-402	150	15	the	the	DET
ftr-402	150	16	effective	effective	ADJ
ftr-402	150	17	2005	2005	NUM
ftr-402	150	18	]	]	PUNCT
ftr-402	150	19	the	the	DET
ftr-402	150	20	three	three	NUM
ftr-402	150	21	parties	party	NOUN
ftr-402	150	22	in	in	ADP
ftr-402	150	23	the	the	DET
ftr-402	150	24	race	race	NOUN
ftr-402	150	25	to	to	ADP
ftr-402	150	26	the	the	DET
ftr-402	150	27	bottom	bottom	ADJ
ftr-402	150	28	159	159	NUM
ftr-402	150	29	tax	tax	NOUN
ftr-402	150	30	rates	rate	NOUN
ftr-402	150	31	in	in	ADP
ftr-402	150	32	all	all	DET
ftr-402	150	33	58	58	NUM
ftr-402	150	34	countries	country	NOUN
ftr-402	150	35	weighted	weight	VERB
ftr-402	150	36	by	by	ADP
ftr-402	150	37	the	the	DET
ftr-402	150	38	number	number	NOUN
ftr-402	150	39	of	of	ADP
ftr-402	150	40	cfcs	cfc	NOUN
ftr-402	150	41	in	in	ADP
ftr-402	150	42	each	each	DET
ftr-402	150	43	country	country	NOUN
ftr-402	150	44	in	in	ADP
ftr-402	150	45	1990	1990	NUM
ftr-402	150	46	.	.	PUNCT
ftr-402	151	1	altshuler	altshuler	NOUN
ftr-402	151	2	,	,	PUNCT
ftr-402	151	3	grubert	grubert	NOUN
ftr-402	151	4	,	,	PUNCT
ftr-402	151	5	and	and	CCONJ
ftr-402	151	6	newlon	newlon	NOUN
ftr-402	151	7	(	(	PUNCT
ftr-402	151	8	2001	2001	NUM
ftr-402	151	9	)	)	PUNCT
ftr-402	151	10	(	(	PUNCT
ftr-402	151	11	hereafter	hereafter	ADV
ftr-402	151	12	,	,	PUNCT
ftr-402	151	13	agn	agn	PROPN
ftr-402	151	14	)	)	PUNCT
ftr-402	151	15	used	use	VERB
ftr-402	151	16	these	these	DET
ftr-402	151	17	data	datum	NOUN
ftr-402	151	18	to	to	PART
ftr-402	151	19	explicitly	explicitly	ADV
ftr-402	151	20	test	test	VERB
ftr-402	151	21	whether	whether	SCONJ
ftr-402	151	22	the	the	DET
ftr-402	151	23	location	location	NOUN
ftr-402	151	24	of	of	ADP
ftr-402	151	25	capital	capital	NOUN
ftr-402	151	26	invested	invest	VERB
ftr-402	151	27	abroad	abroad	ADV
ftr-402	151	28	by	by	ADP
ftr-402	151	29	manufacturing	manufacturing	NOUN
ftr-402	151	30	affiliates	affiliate	NOUN
ftr-402	151	31	of	of	ADP
ftr-402	151	32	u.s	u.s	PROPN
ftr-402	151	33	.	.	PROPN
ftr-402	151	34	mncs	mncs	PROPN
ftr-402	151	35	became	become	VERB
ftr-402	151	36	more	more	ADV
ftr-402	151	37	sensitive	sensitive	ADJ
ftr-402	151	38	to	to	ADP
ftr-402	151	39	differences	difference	NOUN
ftr-402	151	40	in	in	ADP
ftr-402	151	41	host	host	NOUN
ftr-402	151	42	country	country	NOUN
ftr-402	151	43	effective	effective	ADJ
ftr-402	151	44	tax	tax	NOUN
ftr-402	151	45	rates	rate	NOUN
ftr-402	151	46	between	between	ADP
ftr-402	151	47	1984	1984	NUM
ftr-402	151	48	and	and	CCONJ
ftr-402	151	49	1992	1992	NUM
ftr-402	151	50	.	.	PUNCT
ftr-402	152	1	this	this	DET
ftr-402	152	2	work	work	NOUN
ftr-402	152	3	provides	provide	VERB
ftr-402	152	4	strong	strong	ADJ
ftr-402	152	5	evidence	evidence	NOUN
ftr-402	152	6	that	that	SCONJ
ftr-402	152	7	firms	firm	NOUN
ftr-402	152	8	have	have	AUX
ftr-402	152	9	indeed	indeed	ADV
ftr-402	152	10	become	become	VERB
ftr-402	152	11	more	more	ADV
ftr-402	152	12	responsive	responsive	ADJ
ftr-402	152	13	to	to	ADP
ftr-402	152	14	differences	difference	NOUN
ftr-402	152	15	in	in	ADP
ftr-402	152	16	tax	tax	NOUN
ftr-402	152	17	rates	rate	NOUN
ftr-402	152	18	.	.	PUNCT
ftr-402	153	1	in	in	ADP
ftr-402	153	2	research	research	NOUN
ftr-402	153	3	using	use	VERB
ftr-402	153	4	the	the	DET
ftr-402	153	5	same	same	ADJ
ftr-402	153	6	tax	tax	NOUN
ftr-402	153	7	return	return	NOUN
ftr-402	153	8	data	datum	NOUN
ftr-402	153	9	for	for	ADP
ftr-402	153	10	1984	1984	NUM
ftr-402	153	11	through	through	ADP
ftr-402	153	12	1992	1992	NUM
ftr-402	153	13	,	,	PUNCT
ftr-402	153	14	grubert	grubert	NOUN
ftr-402	153	15	(	(	PUNCT
ftr-402	153	16	2001	2001	NUM
ftr-402	153	17	)	)	PUNCT
ftr-402	153	18	looked	look	VERB
ftr-402	153	19	for	for	ADP
ftr-402	153	20	changes	change	NOUN
ftr-402	153	21	in	in	ADP
ftr-402	153	22	the	the	DET
ftr-402	153	23	behavior	behavior	NOUN
ftr-402	153	24	of	of	ADP
ftr-402	153	25	both	both	DET
ftr-402	153	26	taxpayers	taxpayer	NOUN
ftr-402	153	27	and	and	CCONJ
ftr-402	153	28	governments	government	NOUN
ftr-402	153	29	.	.	PUNCT
ftr-402	154	1	among	among	ADP
ftr-402	154	2	other	other	ADJ
ftr-402	154	3	questions	question	NOUN
ftr-402	154	4	,	,	PUNCT
ftr-402	154	5	he	he	PRON
ftr-402	154	6	asked	ask	VERB
ftr-402	154	7	whether	whether	SCONJ
ftr-402	154	8	the	the	DET
ftr-402	154	9	behavior	behavior	NOUN
ftr-402	154	10	of	of	ADP
ftr-402	154	11	governments	government	NOUN
ftr-402	154	12	during	during	ADP
ftr-402	154	13	this	this	DET
ftr-402	154	14	period	period	NOUN
ftr-402	154	15	suggests	suggest	VERB
ftr-402	154	16	more	more	ADJ
ftr-402	154	17	tax	tax	NOUN
ftr-402	154	18	competition	competition	NOUN
ftr-402	154	19	.	.	PUNCT
ftr-402	155	1	grubert	grubert	PROPN
ftr-402	155	2	found	find	VERB
ftr-402	155	3	that	that	SCONJ
ftr-402	155	4	smaller	small	ADJ
ftr-402	155	5	,	,	PUNCT
ftr-402	155	6	poorer	poor	ADJ
ftr-402	155	7	,	,	PUNCT
ftr-402	155	8	and	and	CCONJ
ftr-402	155	9	more	more	ADV
ftr-402	155	10	open	open	ADJ
ftr-402	155	11	countries	country	NOUN
ftr-402	155	12	lowered	lower	VERB
ftr-402	155	13	their	their	PRON
ftr-402	155	14	tax	tax	NOUN
ftr-402	155	15	rates	rate	NOUN
ftr-402	155	16	the	the	DET
ftr-402	155	17	most	most	ADJ
ftr-402	155	18	between	between	ADP
ftr-402	155	19	1984	1984	NUM
ftr-402	155	20	and	and	CCONJ
ftr-402	155	21	1992	1992	NUM
ftr-402	155	22	.	.	PUNCT
ftr-402	156	1	this	this	PRON
ftr-402	156	2	is	be	AUX
ftr-402	156	3	consistent	consistent	ADJ
ftr-402	156	4	with	with	ADP
ftr-402	156	5	tax	tax	NOUN
ftr-402	156	6	competition	competition	NOUN
ftr-402	156	7	since	since	SCONJ
ftr-402	156	8	one	one	PRON
ftr-402	156	9	would	would	AUX
ftr-402	156	10	expect	expect	VERB
ftr-402	156	11	that	that	SCONJ
ftr-402	156	12	these	these	DET
ftr-402	156	13	countries	country	NOUN
ftr-402	156	14	would	would	AUX
ftr-402	156	15	be	be	AUX
ftr-402	156	16	most	most	ADV
ftr-402	156	17	affected	affect	VERB
ftr-402	156	18	by	by	ADP
ftr-402	156	19	the	the	DET
ftr-402	156	20	increased	increase	VERB
ftr-402	156	21	mobility	mobility	NOUN
ftr-402	156	22	of	of	ADP
ftr-402	156	23	capital	capital	NOUN
ftr-402	156	24	.	.	PUNCT
ftr-402	157	1	here	here	ADV
ftr-402	157	2	we	we	PRON
ftr-402	157	3	focus	focus	VERB
ftr-402	157	4	on	on	ADP
ftr-402	157	5	the	the	DET
ftr-402	157	6	period	period	NOUN
ftr-402	157	7	from	from	ADP
ftr-402	157	8	1992	1992	NUM
ftr-402	157	9	to	to	ADP
ftr-402	157	10	2000	2000	NUM
ftr-402	157	11	.	.	PUNCT
ftr-402	158	1	table	table	NOUN
ftr-402	158	2	1	1	NUM
ftr-402	158	3	shows	show	VERB
ftr-402	158	4	that	that	SCONJ
ftr-402	158	5	the	the	DET
ftr-402	158	6	decline	decline	NOUN
ftr-402	158	7	in	in	ADP
ftr-402	158	8	average	average	ADJ
ftr-402	158	9	effective	effective	ADJ
ftr-402	158	10	tax	tax	NOUN
ftr-402	158	11	rates	rate	NOUN
ftr-402	158	12	documented	document	VERB
ftr-402	158	13	in	in	ADP
ftr-402	158	14	earlier	early	ADJ
ftr-402	158	15	work	work	NOUN
ftr-402	158	16	has	have	AUX
ftr-402	158	17	continued	continue	VERB
ftr-402	158	18	.	.	PUNCT
ftr-402	159	1	since	since	SCONJ
ftr-402	159	2	1980	1980	NUM
ftr-402	159	3	,	,	PUNCT
ftr-402	159	4	the	the	DET
ftr-402	159	5	global	global	ADJ
ftr-402	159	6	average	average	ADJ
ftr-402	159	7	effective	effective	ADJ
ftr-402	159	8	tax	tax	NOUN
ftr-402	159	9	rate	rate	NOUN
ftr-402	159	10	has	have	AUX
ftr-402	159	11	fallen	fall	VERB
ftr-402	159	12	by	by	ADP
ftr-402	159	13	about	about	ADV
ftr-402	159	14	12	12	NUM
ftr-402	159	15	percentage	percentage	NOUN
ftr-402	159	16	points	point	NOUN
ftr-402	159	17	.	.	PUNCT
ftr-402	160	1	the	the	DET
ftr-402	160	2	data	data	NOUN
ftr-402	160	3	shows	show	VERB
ftr-402	160	4	a	a	DET
ftr-402	160	5	relatively	relatively	ADV
ftr-402	160	6	large	large	ADJ
ftr-402	160	7	drop	drop	NOUN
ftr-402	160	8	in	in	ADP
ftr-402	160	9	effective	effective	ADJ
ftr-402	160	10	tax	tax	NOUN
ftr-402	160	11	rates	rate	NOUN
ftr-402	160	12	between	between	ADP
ftr-402	160	13	1998	1998	NUM
ftr-402	160	14	and	and	CCONJ
ftr-402	160	15	2000	2000	NUM
ftr-402	160	16	.	.	PUNCT
ftr-402	161	1	it	it	PRON
ftr-402	161	2	is	be	AUX
ftr-402	161	3	also	also	ADV
ftr-402	161	4	interesting	interesting	ADJ
ftr-402	161	5	to	to	PART
ftr-402	161	6	note	note	VERB
ftr-402	161	7	that	that	SCONJ
ftr-402	161	8	the	the	DET
ftr-402	161	9	distribution	distribution	NOUN
ftr-402	161	10	of	of	ADP
ftr-402	161	11	worldwide	worldwide	ADJ
ftr-402	161	12	tax	tax	NOUN
ftr-402	161	13	rates	rate	NOUN
ftr-402	161	14	has	have	AUX
ftr-402	161	15	become	become	VERB
ftr-402	161	16	tighter	tight	ADJ
ftr-402	161	17	in	in	ADP
ftr-402	161	18	the	the	DET
ftr-402	161	19	last	last	ADJ
ftr-402	161	20	decade	decade	NOUN
ftr-402	161	21	(	(	PUNCT
ftr-402	161	22	the	the	DET
ftr-402	161	23	standard	standard	ADJ
ftr-402	161	24	deviation	deviation	NOUN
ftr-402	161	25	has	have	AUX
ftr-402	161	26	fallen	fall	VERB
ftr-402	161	27	and	and	CCONJ
ftr-402	161	28	increased	increase	VERB
ftr-402	161	29	relative	relative	ADJ
ftr-402	161	30	to	to	ADP
ftr-402	161	31	the	the	DET
ftr-402	161	32	mean	mean	NOUN
ftr-402	161	33	)	)	PUNCT
ftr-402	161	34	indicating	indicate	VERB
ftr-402	161	35	some	some	DET
ftr-402	161	36	convergence	convergence	NOUN
ftr-402	161	37	in	in	ADP
ftr-402	161	38	effective	effective	ADJ
ftr-402	161	39	tax	tax	NOUN
ftr-402	161	40	rates	rate	NOUN
ftr-402	161	41	.	.	PUNCT
ftr-402	162	1	while	while	SCONJ
ftr-402	162	2	we	we	PRON
ftr-402	162	3	think	think	VERB
ftr-402	162	4	it	it	PRON
ftr-402	162	5	is	be	AUX
ftr-402	162	6	possible	possible	ADJ
ftr-402	162	7	that	that	SCONJ
ftr-402	162	8	tax	tax	NOUN
ftr-402	162	9	competition	competition	NOUN
ftr-402	162	10	between	between	ADP
ftr-402	162	11	countries	country	NOUN
ftr-402	162	12	is	be	AUX
ftr-402	162	13	responsible	responsible	ADJ
ftr-402	162	14	for	for	ADP
ftr-402	162	15	part	part	NOUN
ftr-402	162	16	of	of	ADP
ftr-402	162	17	the	the	DET
ftr-402	162	18	drop	drop	NOUN
ftr-402	162	19	in	in	ADP
ftr-402	162	20	effective	effective	ADJ
ftr-402	162	21	tax	tax	NOUN
ftr-402	162	22	rates	rate	NOUN
ftr-402	162	23	since	since	SCONJ
ftr-402	162	24	1992	1992	NUM
ftr-402	162	25	(	(	PUNCT
ftr-402	162	26	our	our	PRON
ftr-402	162	27	initial	initial	ADJ
ftr-402	162	28	year	year	NOUN
ftr-402	162	29	of	of	ADP
ftr-402	162	30	analysis	analysis	NOUN
ftr-402	162	31	for	for	ADP
ftr-402	162	32	this	this	DET
ftr-402	162	33	project	project	NOUN
ftr-402	162	34	)	)	PUNCT
ftr-402	162	35	,	,	PUNCT
ftr-402	162	36	we	we	PRON
ftr-402	162	37	suspect	suspect	VERB
ftr-402	162	38	that	that	SCONJ
ftr-402	162	39	the	the	DET
ftr-402	162	40	growth	growth	NOUN
ftr-402	162	41	of	of	ADP
ftr-402	162	42	hybrids	hybrid	NOUN
ftr-402	162	43	(	(	PUNCT
ftr-402	162	44	and	and	CCONJ
ftr-402	162	45	thus	thus	ADV
ftr-402	162	46	company	company	NOUN
ftr-402	162	47	responses	response	NOUN
ftr-402	162	48	)	)	PUNCT
ftr-402	162	49	may	may	AUX
ftr-402	162	50	play	play	VERB
ftr-402	162	51	an	an	DET
ftr-402	162	52	important	important	ADJ
ftr-402	162	53	role	role	NOUN
ftr-402	162	54	in	in	ADP
ftr-402	162	55	explaining	explain	VERB
ftr-402	162	56	the	the	DET
ftr-402	162	57	most	most	ADV
ftr-402	162	58	recent	recent	ADJ
ftr-402	162	59	decreases	decrease	NOUN
ftr-402	162	60	in	in	ADP
ftr-402	162	61	effective	effective	ADJ
ftr-402	162	62	tax	tax	NOUN
ftr-402	162	63	rates	rate	NOUN
ftr-402	162	64	.	.	PUNCT
ftr-402	163	1	for	for	ADP
ftr-402	163	2	this	this	DET
ftr-402	163	3	reason	reason	NOUN
ftr-402	163	4	we	we	PRON
ftr-402	163	5	look	look	VERB
ftr-402	163	6	at	at	ADP
ftr-402	163	7	changes	change	NOUN
ftr-402	163	8	in	in	ADP
ftr-402	163	9	country	country	NOUN
ftr-402	163	10	effective	effective	ADJ
ftr-402	163	11	tax	tax	NOUN
ftr-402	163	12	rates	rate	NOUN
ftr-402	163	13	between	between	ADP
ftr-402	163	14	1992	1992	NUM
ftr-402	163	15	and	and	CCONJ
ftr-402	163	16	1998	1998	NUM
ftr-402	163	17	separately	separately	ADV
ftr-402	163	18	from	from	ADP
ftr-402	163	19	the	the	DET
ftr-402	163	20	changes	change	NOUN
ftr-402	163	21	between	between	ADP
ftr-402	163	22	1998	1998	NUM
ftr-402	163	23	and	and	CCONJ
ftr-402	163	24	2000	2000	NUM
ftr-402	163	25	.	.	PUNCT
ftr-402	164	1	we	we	PRON
ftr-402	164	2	start	start	VERB
ftr-402	164	3	by	by	ADP
ftr-402	164	4	using	use	VERB
ftr-402	164	5	simple	simple	ADJ
ftr-402	164	6	regression	regression	NOUN
ftr-402	164	7	analysis	analysis	NOUN
ftr-402	164	8	to	to	PART
ftr-402	164	9	test	test	VERB
ftr-402	164	10	for	for	ADP
ftr-402	164	11	evidence	evidence	NOUN
ftr-402	164	12	of	of	ADP
ftr-402	164	13	tax	tax	NOUN
ftr-402	164	14	competition	competition	NOUN
ftr-402	164	15	in	in	ADP
ftr-402	164	16	the	the	DET
ftr-402	164	17	period	period	NOUN
ftr-402	164	18	between	between	ADP
ftr-402	164	19	1992	1992	NUM
ftr-402	164	20	and	and	CCONJ
ftr-402	164	21	1998	1998	NUM
ftr-402	164	22	.	.	PUNCT
ftr-402	165	1	one	one	NUM
ftr-402	165	2	test	test	NOUN
ftr-402	165	3	is	be	AUX
ftr-402	165	4	whether	whether	SCONJ
ftr-402	165	5	country	country	NOUN
ftr-402	165	6	responses	response	NOUN
ftr-402	165	7	to	to	ADP
ftr-402	165	8	changes	change	NOUN
ftr-402	165	9	in	in	ADP
ftr-402	165	10	their	their	PRON
ftr-402	165	11	share	share	NOUN
ftr-402	165	12	of	of	ADP
ftr-402	165	13	u.s	u.s	PROPN
ftr-402	165	14	.	.	PROPN
ftr-402	165	15	capital	capital	NOUN
ftr-402	165	16	explain	explain	VERB
ftr-402	165	17	changes	change	NOUN
ftr-402	165	18	in	in	ADP
ftr-402	165	19	effective	effective	ADJ
ftr-402	165	20	tax	tax	NOUN
ftr-402	165	21	rates	rate	NOUN
ftr-402	165	22	.	.	PUNCT
ftr-402	166	1	we	we	PRON
ftr-402	166	2	then	then	ADV
ftr-402	166	3	look	look	VERB
ftr-402	166	4	at	at	ADP
ftr-402	166	5	the	the	DET
ftr-402	166	6	period	period	NOUN
ftr-402	166	7	between	between	ADP
ftr-402	166	8	1992	1992	NUM
ftr-402	166	9	and	and	CCONJ
ftr-402	166	10	2000	2000	NUM
ftr-402	166	11	to	to	PART
ftr-402	166	12	see	see	VERB
ftr-402	166	13	whether	whether	SCONJ
ftr-402	166	14	the	the	DET
ftr-402	166	15	process	process	NOUN
ftr-402	166	16	explaining	explain	VERB
ftr-402	166	17	decreases	decrease	NOUN
ftr-402	166	18	in	in	ADP
ftr-402	166	19	country	country	NOUN
ftr-402	166	20	effective	effective	ADJ
ftr-402	166	21	tax	tax	NOUN
ftr-402	166	22	rates	rate	NOUN
ftr-402	166	23	have	have	AUX
ftr-402	166	24	changed	change	VERB
ftr-402	166	25	.	.	PUNCT
ftr-402	167	1	finally	finally	ADV
ftr-402	167	2	we	we	PRON
ftr-402	167	3	focus	focus	VERB
ftr-402	167	4	on	on	ADP
ftr-402	167	5	the	the	DET
ftr-402	167	6	last	last	ADJ
ftr-402	167	7	two	two	NUM
ftr-402	167	8	years	year	NOUN
ftr-402	167	9	of	of	ADP
ftr-402	167	10	data	datum	NOUN
ftr-402	167	11	,	,	PUNCT
ftr-402	167	12	1998	1998	NUM
ftr-402	167	13	and	and	CCONJ
ftr-402	167	14	2000	2000	NUM
ftr-402	167	15	,	,	PUNCT
ftr-402	167	16	and	and	CCONJ
ftr-402	167	17	test	test	VERB
ftr-402	167	18	whether	whether	SCONJ
ftr-402	167	19	company	company	NOUN
ftr-402	167	20	versus	versus	ADP
ftr-402	167	21	country	country	NOUN
ftr-402	167	22	responses	response	NOUN
ftr-402	167	23	explain	explain	VERB
ftr-402	167	24	differences	difference	NOUN
ftr-402	167	25	in	in	ADP
ftr-402	167	26	the	the	DET
ftr-402	167	27	pattern	pattern	NOUN
ftr-402	167	28	of	of	ADP
ftr-402	167	29	declines	decline	NOUN
ftr-402	167	30	in	in	ADP
ftr-402	167	31	effective	effective	ADJ
ftr-402	167	32	tax	tax	NOUN
ftr-402	167	33	rates	rate	NOUN
ftr-402	167	34	across	across	ADP
ftr-402	167	35	countries	country	NOUN
ftr-402	167	36	.	.	PUNCT
ftr-402	168	1	the	the	DET
ftr-402	168	2	data	data	NOUN
ftr-402	168	3	is	be	AUX
ftr-402	168	4	subsidiary	subsidiary	ADJ
ftr-402	168	5	-	-	PUNCT
ftr-402	168	6	level	level	NOUN
ftr-402	168	7	information	information	NOUN
ftr-402	168	8	from	from	ADP
ftr-402	168	9	the	the	DET
ftr-402	168	10	form	form	NOUN
ftr-402	168	11	5471	5471	NUM
ftr-402	168	12	aggregated	aggregate	VERB
ftr-402	168	13	up	up	ADP
ftr-402	168	14	to	to	ADP
ftr-402	168	15	the	the	DET
ftr-402	168	16	country	country	NOUN
ftr-402	168	17	level	level	NOUN
ftr-402	168	18	(	(	PUNCT
ftr-402	168	19	for	for	ADP
ftr-402	168	20	the	the	DET
ftr-402	168	21	same	same	ADJ
ftr-402	168	22	58	58	NUM
ftr-402	168	23	countries	country	NOUN
ftr-402	168	24	used	use	VERB
ftr-402	168	25	in	in	ADP
ftr-402	168	26	table	table	NOUN
ftr-402	168	27	1	1	NUM
ftr-402	168	28	and	and	CCONJ
ftr-402	168	29	shown	show	VERB
ftr-402	168	30	in	in	ADP
ftr-402	168	31	the	the	DET
ftr-402	168	32	appendix	appendix	NOUN
ftr-402	168	33	)	)	PUNCT
ftr-402	168	34	.	.	PUNCT
ftr-402	169	1	to	to	PART
ftr-402	169	2	control	control	VERB
ftr-402	169	3	for	for	ADP
ftr-402	169	4	heteroskedasticity	heteroskedasticity	NOUN
ftr-402	169	5	,	,	PUNCT
ftr-402	169	6	we	we	PRON
ftr-402	169	7	weight	weight	VERB
ftr-402	169	8	by	by	ADP
ftr-402	169	9	the	the	DET
ftr-402	169	10	number	number	NOUN
ftr-402	169	11	of	of	ADP
ftr-402	169	12	cfcs	cfc	NOUN
ftr-402	169	13	in	in	ADP
ftr-402	169	14	each	each	DET
ftr-402	169	15	country	country	NOUN
ftr-402	169	16	in	in	ADP
ftr-402	169	17	1992	1992	NUM
ftr-402	169	18	.	.	PUNCT
ftr-402	170	1	the	the	DET
ftr-402	170	2	dependent	dependent	ADJ
ftr-402	170	3	variable	variable	NOUN
ftr-402	170	4	is	be	AUX
ftr-402	170	5	the	the	DET
ftr-402	170	6	change	change	NOUN
ftr-402	170	7	in	in	ADP
ftr-402	170	8	a	a	DET
ftr-402	170	9	country	country	NOUN
ftr-402	170	10	’s	’s	PART
ftr-402	170	11	average	average	ADJ
ftr-402	170	12	effective	effective	ADJ
ftr-402	170	13	tax	tax	NOUN
ftr-402	170	14	rate	rate	NOUN
ftr-402	170	15	(	(	PUNCT
ftr-402	170	16	aetr	aetr	ADV
ftr-402	170	17	)	)	PUNCT
ftr-402	170	18	measured	measure	VERB
ftr-402	170	19	by	by	ADP
ftr-402	170	20	subtracting	subtract	VERB
ftr-402	170	21	the	the	DET
ftr-402	170	22	1998	1998	NUM
ftr-402	170	23	160	160	NUM
ftr-402	170	24	florida	florida	PROPN
ftr-402	170	25	tax	tax	NOUN
ftr-402	170	26	review	review	NOUN
ftr-402	170	27	[	[	X
ftr-402	170	28	vol.7:3	vol.7:3	X
ftr-402	170	29	rate	rate	NOUN
ftr-402	170	30	from	from	ADP
ftr-402	170	31	the	the	DET
ftr-402	170	32	1992	1992	NUM
ftr-402	170	33	rate	rate	NOUN
ftr-402	170	34	.	.	PUNCT
ftr-402	171	1	thus	thus	ADV
ftr-402	171	2	,	,	PUNCT
ftr-402	171	3	if	if	SCONJ
ftr-402	171	4	the	the	DET
ftr-402	171	5	change	change	NOUN
ftr-402	171	6	is	be	AUX
ftr-402	171	7	positive	positive	ADJ
ftr-402	171	8	(	(	PUNCT
ftr-402	171	9	negative	negative	ADJ
ftr-402	171	10	)	)	PUNCT
ftr-402	171	11	,	,	PUNCT
ftr-402	171	12	effective	effective	ADJ
ftr-402	171	13	tax	tax	NOUN
ftr-402	171	14	rates	rate	NOUN
ftr-402	171	15	have	have	AUX
ftr-402	171	16	fallen	fall	VERB
ftr-402	171	17	(	(	PUNCT
ftr-402	171	18	increased	increase	VERB
ftr-402	171	19	)	)	PUNCT
ftr-402	171	20	.	.	PUNCT
ftr-402	172	1	the	the	DET
ftr-402	172	2	main	main	ADJ
ftr-402	172	3	independent	independent	ADJ
ftr-402	172	4	variable	variable	NOUN
ftr-402	172	5	of	of	ADP
ftr-402	172	6	interest	interest	NOUN
ftr-402	172	7	is	be	AUX
ftr-402	172	8	the	the	DET
ftr-402	172	9	percentage	percentage	NOUN
ftr-402	172	10	change	change	NOUN
ftr-402	172	11	in	in	ADP
ftr-402	172	12	u.s	u.s	PROPN
ftr-402	172	13	.	.	PROPN
ftr-402	172	14	manufacturing	manufacturing	NOUN
ftr-402	172	15	affiliate	affiliate	NOUN
ftr-402	172	16	capital	capital	NOUN
ftr-402	172	17	,	,	PUNCT
ftr-402	172	18	calculated	calculate	VERB
ftr-402	172	19	by	by	ADP
ftr-402	172	20	subtracting	subtract	VERB
ftr-402	172	21	the	the	DET
ftr-402	172	22	log	log	NOUN
ftr-402	172	23	of	of	ADP
ftr-402	172	24	real	real	ADJ
ftr-402	172	25	capital	capital	NOUN
ftr-402	172	26	held	hold	VERB
ftr-402	172	27	by	by	ADP
ftr-402	172	28	u.s	u.s	PROPN
ftr-402	172	29	.	.	PROPN
ftr-402	172	30	manufacturing	manufacturing	NOUN
ftr-402	172	31	affiliates	affiliate	NOUN
ftr-402	172	32	in	in	ADP
ftr-402	172	33	a	a	DET
ftr-402	172	34	country	country	NOUN
ftr-402	172	35	in	in	ADP
ftr-402	172	36	1984	1984	NUM
ftr-402	172	37	from	from	ADP
ftr-402	172	38	the	the	DET
ftr-402	172	39	log	log	NOUN
ftr-402	172	40	of	of	ADP
ftr-402	172	41	real	real	ADJ
ftr-402	172	42	capital	capital	NOUN
ftr-402	172	43	held	hold	VERB
ftr-402	172	44	in	in	ADP
ftr-402	172	45	1992	1992	NUM
ftr-402	172	46	.	.	PUNCT
ftr-402	173	1	this	this	PRON
ftr-402	173	2	is	be	AUX
ftr-402	173	3	the	the	DET
ftr-402	173	4	change	change	NOUN
ftr-402	173	5	in	in	ADP
ftr-402	173	6	capital	capital	NOUN
ftr-402	173	7	studied	study	VERB
ftr-402	173	8	in	in	ADP
ftr-402	173	9	agn	agn	PROPN
ftr-402	173	10	so	so	SCONJ
ftr-402	173	11	the	the	DET
ftr-402	173	12	data	datum	NOUN
ftr-402	173	13	was	be	AUX
ftr-402	173	14	readily	readily	ADV
ftr-402	173	15	available	available	ADJ
ftr-402	173	16	to	to	ADP
ftr-402	173	17	us	we	PRON
ftr-402	173	18	and	and	CCONJ
ftr-402	173	19	convenient	convenient	ADJ
ftr-402	173	20	to	to	PART
ftr-402	173	21	use	use	VERB
ftr-402	173	22	.	.	PUNCT
ftr-402	174	1	did	do	AUX
ftr-402	174	2	the	the	DET
ftr-402	174	3	locations	location	NOUN
ftr-402	174	4	loosing	loose	VERB
ftr-402	174	5	market	market	NOUN
ftr-402	174	6	share	share	NOUN
ftr-402	174	7	feel	feel	VERB
ftr-402	174	8	pressure	pressure	NOUN
ftr-402	174	9	to	to	PART
ftr-402	174	10	lower	lower	VERB
ftr-402	174	11	their	their	PRON
ftr-402	174	12	tax	tax	NOUN
ftr-402	174	13	rates	rate	NOUN
ftr-402	174	14	to	to	PART
ftr-402	174	15	compete	compete	VERB
ftr-402	174	16	?	?	PUNCT
ftr-402	175	1	in	in	ADP
ftr-402	175	2	all	all	PRON
ftr-402	175	3	of	of	ADP
ftr-402	175	4	the	the	DET
ftr-402	175	5	regressions	regression	NOUN
ftr-402	175	6	,	,	PUNCT
ftr-402	175	7	we	we	PRON
ftr-402	175	8	control	control	VERB
ftr-402	175	9	for	for	ADP
ftr-402	175	10	the	the	DET
ftr-402	175	11	country	country	NOUN
ftr-402	175	12	’s	’s	PART
ftr-402	175	13	initial	initial	ADJ
ftr-402	175	14	level	level	NOUN
ftr-402	175	15	of	of	ADP
ftr-402	175	16	effective	effective	ADJ
ftr-402	175	17	tax	tax	NOUN
ftr-402	175	18	rate	rate	NOUN
ftr-402	175	19	and	and	CCONJ
ftr-402	175	20	include	include	VERB
ftr-402	175	21	a	a	DET
ftr-402	175	22	dummy	dummy	ADJ
ftr-402	175	23	variable	variable	NOUN
ftr-402	175	24	that	that	PRON
ftr-402	175	25	equals	equal	VERB
ftr-402	175	26	one	one	NUM
ftr-402	175	27	if	if	SCONJ
ftr-402	175	28	the	the	DET
ftr-402	175	29	country	country	NOUN
ftr-402	175	30	is	be	AUX
ftr-402	175	31	“	"	PUNCT
ftr-402	175	32	small	small	ADJ
ftr-402	175	33	”	"	PUNCT
ftr-402	175	34	(	(	PUNCT
ftr-402	175	35	has	have	VERB
ftr-402	175	36	a	a	DET
ftr-402	175	37	population	population	NOUN
ftr-402	175	38	of	of	ADP
ftr-402	175	39	less	less	ADJ
ftr-402	175	40	than	than	ADP
ftr-402	175	41	15	15	NUM
ftr-402	175	42	million	million	NUM
ftr-402	175	43	in	in	ADP
ftr-402	175	44	1992	1992	NUM
ftr-402	175	45	)	)	PUNCT
ftr-402	175	46	.	.	PUNCT
ftr-402	176	1	note	note	VERB
ftr-402	176	2	that	that	SCONJ
ftr-402	176	3	we	we	PRON
ftr-402	176	4	use	use	VERB
ftr-402	176	5	the	the	DET
ftr-402	176	6	1990	1990	NUM
ftr-402	176	7	rate	rate	NOUN
ftr-402	176	8	to	to	PART
ftr-402	176	9	control	control	VERB
ftr-402	176	10	for	for	ADP
ftr-402	176	11	the	the	DET
ftr-402	176	12	“	"	PUNCT
ftr-402	176	13	initial	initial	ADJ
ftr-402	176	14	”	"	PUNCT
ftr-402	176	15	level	level	NOUN
ftr-402	176	16	of	of	ADP
ftr-402	176	17	each	each	DET
ftr-402	176	18	country	country	NOUN
ftr-402	176	19	’s	’s	PART
ftr-402	176	20	effective	effective	ADJ
ftr-402	176	21	tax	tax	NOUN
ftr-402	176	22	rate	rate	NOUN
ftr-402	176	23	.	.	PUNCT
ftr-402	177	1	including	include	VERB
ftr-402	177	2	the	the	DET
ftr-402	177	3	1992	1992	NUM
ftr-402	177	4	effective	effective	ADJ
ftr-402	177	5	tax	tax	NOUN
ftr-402	177	6	rate	rate	NOUN
ftr-402	177	7	in	in	ADP
ftr-402	177	8	the	the	DET
ftr-402	177	9	regression	regression	NOUN
ftr-402	177	10	could	could	AUX
ftr-402	177	11	create	create	VERB
ftr-402	177	12	a	a	DET
ftr-402	177	13	spurious	spurious	ADJ
ftr-402	177	14	correlation	correlation	NOUN
ftr-402	177	15	between	between	ADP
ftr-402	177	16	the	the	DET
ftr-402	177	17	1992	1992	NUM
ftr-402	177	18	-	-	SYM
ftr-402	177	19	1998	1998	NUM
ftr-402	177	20	change	change	NOUN
ftr-402	177	21	in	in	ADP
ftr-402	177	22	tax	tax	NOUN
ftr-402	177	23	rates	rate	NOUN
ftr-402	177	24	and	and	CCONJ
ftr-402	177	25	the	the	DET
ftr-402	177	26	1992	1992	NUM
ftr-402	177	27	rate	rate	NOUN
ftr-402	177	28	.	.	PUNCT
ftr-402	178	1	furthermore	furthermore	ADV
ftr-402	178	2	,	,	PUNCT
ftr-402	178	3	including	include	VERB
ftr-402	178	4	a	a	DET
ftr-402	178	5	lagged	lag	VERB
ftr-402	178	6	value	value	NOUN
ftr-402	178	7	of	of	ADP
ftr-402	178	8	the	the	DET
ftr-402	178	9	change	change	NOUN
ftr-402	178	10	in	in	ADP
ftr-402	178	11	capital	capital	NOUN
ftr-402	178	12	share	share	NOUN
ftr-402	178	13	ensures	ensure	VERB
ftr-402	178	14	that	that	SCONJ
ftr-402	178	15	this	this	DET
ftr-402	178	16	independent	independent	ADJ
ftr-402	178	17	variable	variable	NOUN
ftr-402	178	18	is	be	AUX
ftr-402	178	19	not	not	PART
ftr-402	178	20	endogenous	endogenous	ADJ
ftr-402	178	21	.	.	PUNCT
ftr-402	179	1	the	the	DET
ftr-402	179	2	results	result	NOUN
ftr-402	179	3	presented	present	VERB
ftr-402	179	4	in	in	ADP
ftr-402	179	5	table	table	NOUN
ftr-402	179	6	2a	2a	NUM
ftr-402	179	7	are	be	AUX
ftr-402	179	8	suggestive	suggestive	ADJ
ftr-402	179	9	of	of	ADP
ftr-402	179	10	a	a	DET
ftr-402	179	11	tax	tax	NOUN
ftr-402	179	12	competition	competition	NOUN
ftr-402	179	13	story	story	NOUN
ftr-402	179	14	.	.	PUNCT
ftr-402	180	1	the	the	DET
ftr-402	180	2	first	first	ADJ
ftr-402	180	3	column	column	NOUN
ftr-402	180	4	presents	present	VERB
ftr-402	180	5	results	result	NOUN
ftr-402	180	6	from	from	ADP
ftr-402	180	7	what	what	PRON
ftr-402	180	8	we	we	PRON
ftr-402	180	9	consider	consider	VERB
ftr-402	180	10	to	to	PART
ftr-402	180	11	be	be	AUX
ftr-402	180	12	a	a	DET
ftr-402	180	13	basic	basic	ADJ
ftr-402	180	14	test	test	NOUN
ftr-402	180	15	for	for	ADP
ftr-402	180	16	tax	tax	NOUN
ftr-402	180	17	competition	competition	NOUN
ftr-402	180	18	.	.	PUNCT
ftr-402	181	1	the	the	DET
ftr-402	181	2	coefficient	coefficient	NOUN
ftr-402	181	3	on	on	ADP
ftr-402	181	4	the	the	DET
ftr-402	181	5	change	change	NOUN
ftr-402	181	6	in	in	ADP
ftr-402	181	7	capital	capital	NOUN
ftr-402	181	8	share	share	NOUN
ftr-402	181	9	,	,	PUNCT
ftr-402	181	10	log(capital	log(capital	PROPN
ftr-402	181	11	in	in	ADP
ftr-402	181	12	1992	1992	NUM
ftr-402	181	13	)	)	PUNCT
ftr-402	181	14	–	–	PUNCT
ftr-402	181	15	log(capital	log(capital	NOUN
ftr-402	181	16	in	in	ADP
ftr-402	181	17	1984	1984	NUM
ftr-402	181	18	)	)	PUNCT
ftr-402	181	19	,	,	PUNCT
ftr-402	181	20	is	be	AUX
ftr-402	181	21	negative	negative	ADJ
ftr-402	181	22	and	and	CCONJ
ftr-402	181	23	highly	highly	ADV
ftr-402	181	24	significant	significant	ADJ
ftr-402	181	25	.	.	PUNCT
ftr-402	182	1	countries	country	NOUN
ftr-402	182	2	losing	lose	VERB
ftr-402	182	3	market	market	NOUN
ftr-402	182	4	share	share	NOUN
ftr-402	182	5	relative	relative	ADJ
ftr-402	182	6	to	to	ADP
ftr-402	182	7	their	their	PRON
ftr-402	182	8	neighbors	neighbor	NOUN
ftr-402	182	9	(	(	PUNCT
ftr-402	182	10	those	those	PRON
ftr-402	182	11	with	with	ADP
ftr-402	182	12	the	the	DET
ftr-402	182	13	most	most	ADJ
ftr-402	182	14	to	to	PART
ftr-402	182	15	gain	gain	VERB
ftr-402	182	16	)	)	PUNCT
ftr-402	182	17	cut	cut	VERB
ftr-402	182	18	their	their	PRON
ftr-402	182	19	effective	effective	ADJ
ftr-402	182	20	tax	tax	NOUN
ftr-402	182	21	rates	rate	NOUN
ftr-402	182	22	more	more	ADJ
ftr-402	182	23	between	between	ADP
ftr-402	182	24	1992	1992	NUM
ftr-402	182	25	and	and	CCONJ
ftr-402	182	26	1998	1998	NUM
ftr-402	182	27	.	.	PUNCT
ftr-402	183	1	conversely	conversely	ADV
ftr-402	183	2	,	,	PUNCT
ftr-402	183	3	the	the	DET
ftr-402	183	4	higher	high	ADJ
ftr-402	183	5	was	be	AUX
ftr-402	183	6	a	a	DET
ftr-402	183	7	country	country	NOUN
ftr-402	183	8	’s	’s	PART
ftr-402	183	9	increase	increase	NOUN
ftr-402	183	10	in	in	ADP
ftr-402	183	11	capital	capital	NOUN
ftr-402	183	12	between	between	ADP
ftr-402	183	13	1984	1984	NUM
ftr-402	183	14	and	and	CCONJ
ftr-402	183	15	1992	1992	NUM
ftr-402	183	16	,	,	PUNCT
ftr-402	183	17	the	the	DET
ftr-402	183	18	smaller	small	ADJ
ftr-402	183	19	were	be	AUX
ftr-402	183	20	their	their	PRON
ftr-402	183	21	tax	tax	NOUN
ftr-402	183	22	cuts	cut	NOUN
ftr-402	183	23	.	.	PUNCT
ftr-402	184	1	turning	turn	VERB
ftr-402	184	2	to	to	ADP
ftr-402	184	3	the	the	DET
ftr-402	184	4	other	other	ADJ
ftr-402	184	5	independent	independent	ADJ
ftr-402	184	6	variables	variable	NOUN
ftr-402	184	7	we	we	PRON
ftr-402	184	8	see	see	VERB
ftr-402	184	9	that	that	SCONJ
ftr-402	184	10	rates	rate	NOUN
ftr-402	184	11	fell	fall	VERB
ftr-402	184	12	more	more	ADV
ftr-402	184	13	for	for	ADP
ftr-402	184	14	countries	country	NOUN
ftr-402	184	15	with	with	ADP
ftr-402	184	16	higher	high	ADJ
ftr-402	184	17	initial	initial	ADJ
ftr-402	184	18	effective	effective	ADJ
ftr-402	184	19	tax	tax	NOUN
ftr-402	184	20	rates	rate	NOUN
ftr-402	184	21	.	.	PUNCT
ftr-402	185	1	the	the	DET
ftr-402	185	2	estimated	estimate	VERB
ftr-402	185	3	coefficient	coefficient	NOUN
ftr-402	185	4	on	on	ADP
ftr-402	185	5	the	the	DET
ftr-402	185	6	1990	1990	NUM
ftr-402	185	7	average	average	ADJ
ftr-402	185	8	effective	effective	ADJ
ftr-402	185	9	tax	tax	NOUN
ftr-402	185	10	rate	rate	NOUN
ftr-402	185	11	variable	variable	NOUN
ftr-402	185	12	is	be	AUX
ftr-402	185	13	positive	positive	ADJ
ftr-402	185	14	,	,	PUNCT
ftr-402	185	15	large	large	ADJ
ftr-402	185	16	in	in	ADP
ftr-402	185	17	magnitude	magnitude	NOUN
ftr-402	185	18	,	,	PUNCT
ftr-402	185	19	and	and	CCONJ
ftr-402	185	20	statistically	statistically	ADV
ftr-402	185	21	different	different	ADJ
ftr-402	185	22	from	from	ADP
ftr-402	185	23	zero	zero	NUM
ftr-402	185	24	at	at	ADP
ftr-402	185	25	more	more	ADJ
ftr-402	185	26	than	than	ADP
ftr-402	185	27	a	a	DET
ftr-402	185	28	1	1	NUM
ftr-402	185	29	%	%	NOUN
ftr-402	185	30	confidence	confidence	NOUN
ftr-402	185	31	level	level	NOUN
ftr-402	185	32	.	.	PUNCT
ftr-402	186	1	this	this	PRON
ftr-402	186	2	is	be	AUX
ftr-402	186	3	also	also	ADV
ftr-402	186	4	consistent	consistent	ADJ
ftr-402	186	5	with	with	ADP
ftr-402	186	6	a	a	DET
ftr-402	186	7	tax	tax	NOUN
ftr-402	186	8	competition	competition	NOUN
ftr-402	186	9	story	story	NOUN
ftr-402	186	10	.	.	PUNCT
ftr-402	187	1	those	those	DET
ftr-402	187	2	countries	country	NOUN
ftr-402	187	3	that	that	PRON
ftr-402	187	4	had	have	VERB
ftr-402	187	5	relatively	relatively	ADV
ftr-402	187	6	high	high	ADJ
ftr-402	187	7	rates	rate	NOUN
ftr-402	187	8	made	make	VERB
ftr-402	187	9	adjustments	adjustment	NOUN
ftr-402	187	10	to	to	ADP
ftr-402	187	11	their	their	PRON
ftr-402	187	12	tax	tax	NOUN
ftr-402	187	13	structure	structure	NOUN
ftr-402	187	14	that	that	PRON
ftr-402	187	15	resulted	result	VERB
ftr-402	187	16	in	in	ADP
ftr-402	187	17	larger	large	ADJ
ftr-402	187	18	decreases	decrease	NOUN
ftr-402	187	19	in	in	ADP
ftr-402	187	20	effective	effective	ADJ
ftr-402	187	21	tax	tax	NOUN
ftr-402	187	22	rates	rate	NOUN
ftr-402	187	23	over	over	ADP
ftr-402	187	24	the	the	DET
ftr-402	187	25	period	period	NOUN
ftr-402	187	26	1992	1992	NUM
ftr-402	187	27	to	to	ADP
ftr-402	187	28	1998	1998	NUM
ftr-402	187	29	.	.	PUNCT
ftr-402	188	1	in	in	ADP
ftr-402	188	2	a	a	DET
ftr-402	188	3	competitive	competitive	ADJ
ftr-402	188	4	environment	environment	NOUN
ftr-402	188	5	,	,	PUNCT
ftr-402	188	6	these	these	DET
ftr-402	188	7	countries	country	NOUN
ftr-402	188	8	would	would	AUX
ftr-402	188	9	be	be	AUX
ftr-402	188	10	the	the	DET
ftr-402	188	11	ones	one	NOUN
ftr-402	188	12	that	that	PRON
ftr-402	188	13	feel	feel	VERB
ftr-402	188	14	the	the	DET
ftr-402	188	15	greatest	great	ADJ
ftr-402	188	16	pressure	pressure	NOUN
ftr-402	188	17	to	to	PART
ftr-402	188	18	reduce	reduce	VERB
ftr-402	188	19	rates	rate	NOUN
ftr-402	188	20	.	.	PUNCT
ftr-402	189	1	finally	finally	ADV
ftr-402	189	2	,	,	PUNCT
ftr-402	189	3	the	the	DET
ftr-402	189	4	coefficient	coefficient	NOUN
ftr-402	189	5	on	on	ADP
ftr-402	189	6	the	the	DET
ftr-402	189	7	dummy	dummy	NOUN
ftr-402	189	8	for	for	ADP
ftr-402	189	9	small	small	ADJ
ftr-402	189	10	countries	country	NOUN
ftr-402	189	11	is	be	AUX
ftr-402	189	12	positive	positive	ADJ
ftr-402	189	13	and	and	CCONJ
ftr-402	189	14	is	be	AUX
ftr-402	189	15	also	also	ADV
ftr-402	189	16	very	very	ADV
ftr-402	189	17	significant	significant	ADJ
ftr-402	189	18	,	,	PUNCT
ftr-402	189	19	again	again	ADV
ftr-402	189	20	suggesting	suggest	VERB
ftr-402	189	21	an	an	DET
ftr-402	189	22	international	international	ADJ
ftr-402	189	23	motivation	motivation	NOUN
ftr-402	189	24	for	for	ADP
ftr-402	189	25	corporate	corporate	ADJ
ftr-402	189	26	tax	tax	NOUN
ftr-402	189	27	reductions	reduction	NOUN
ftr-402	189	28	.	.	PUNCT
ftr-402	190	1	smaller	small	ADJ
ftr-402	190	2	countries	country	NOUN
ftr-402	190	3	,	,	PUNCT
ftr-402	190	4	which	which	PRON
ftr-402	190	5	may	may	AUX
ftr-402	190	6	face	face	VERB
ftr-402	190	7	the	the	DET
ftr-402	190	8	most	most	ADV
ftr-402	190	9	elastic	elastic	ADJ
ftr-402	190	10	supply	supply	NOUN
ftr-402	190	11	of	of	ADP
ftr-402	190	12	capital	capital	NOUN
ftr-402	190	13	,	,	PUNCT
ftr-402	190	14	lowered	lower	VERB
ftr-402	190	15	effective	effective	ADJ
ftr-402	190	16	tax	tax	NOUN
ftr-402	190	17	rates	rate	NOUN
ftr-402	190	18	relatively	relatively	ADV
ftr-402	190	19	more	more	ADV
ftr-402	190	20	than	than	ADP
ftr-402	190	21	the	the	DET
ftr-402	190	22	average	average	NOUN
ftr-402	190	23	.	.	PUNCT
ftr-402	191	1	grubert	grubert	PROPN
ftr-402	191	2	(	(	PUNCT
ftr-402	191	3	2001	2001	NUM
ftr-402	191	4	)	)	PUNCT
ftr-402	191	5	found	find	VERB
ftr-402	191	6	the	the	DET
ftr-402	191	7	same	same	ADJ
ftr-402	191	8	result	result	NOUN
ftr-402	191	9	in	in	ADP
ftr-402	191	10	his	his	PRON
ftr-402	191	11	analysis	analysis	NOUN
ftr-402	191	12	of	of	ADP
ftr-402	191	13	the	the	DET
ftr-402	191	14	factors	factor	NOUN
ftr-402	191	15	causing	cause	VERB
ftr-402	191	16	the	the	DET
ftr-402	191	17	fall	fall	NOUN
ftr-402	191	18	in	in	ADP
ftr-402	191	19	country	country	NOUN
ftr-402	191	20	average	average	ADJ
ftr-402	191	21	effective	effective	ADJ
ftr-402	191	22	tax	tax	NOUN
ftr-402	191	23	rates	rate	NOUN
ftr-402	191	24	between	between	ADP
ftr-402	191	25	1984	1984	NUM
ftr-402	191	26	and	and	CCONJ
ftr-402	191	27	1992	1992	NUM
ftr-402	191	28	.	.	PUNCT
ftr-402	192	1	interestingly	interestingly	ADV
ftr-402	192	2	,	,	PUNCT
ftr-402	192	3	as	as	SCONJ
ftr-402	192	4	we	we	PRON
ftr-402	192	5	will	will	AUX
ftr-402	192	6	see	see	VERB
ftr-402	192	7	,	,	PUNCT
ftr-402	192	8	this	this	DET
ftr-402	192	9	result	result	NOUN
ftr-402	192	10	vanishes	vanish	VERB
ftr-402	192	11	when	when	SCONJ
ftr-402	192	12	we	we	PRON
ftr-402	192	13	focus	focus	VERB
ftr-402	192	14	on	on	ADP
ftr-402	192	15	the	the	DET
ftr-402	192	16	changes	change	NOUN
ftr-402	192	17	in	in	ADP
ftr-402	192	18	country	country	NOUN
ftr-402	192	19	effective	effective	ADJ
ftr-402	192	20	tax	tax	NOUN
ftr-402	192	21	rates	rate	NOUN
ftr-402	192	22	between	between	ADP
ftr-402	192	23	1998	1998	NUM
ftr-402	192	24	and	and	CCONJ
ftr-402	192	25	2000	2000	NUM
ftr-402	192	26	.	.	PUNCT
ftr-402	193	1	in	in	ADP
ftr-402	193	2	the	the	DET
ftr-402	193	3	second	second	ADJ
ftr-402	193	4	column	column	NOUN
ftr-402	193	5	of	of	ADP
ftr-402	193	6	table	table	NOUN
ftr-402	193	7	2a	2a	NUM
ftr-402	193	8	we	we	PRON
ftr-402	193	9	show	show	VERB
ftr-402	193	10	the	the	DET
ftr-402	193	11	results	result	NOUN
ftr-402	193	12	of	of	ADP
ftr-402	193	13	a	a	DET
ftr-402	193	14	regression	regression	NOUN
ftr-402	193	15	that	that	PRON
ftr-402	193	16	includes	include	VERB
ftr-402	193	17	a	a	DET
ftr-402	193	18	term	term	NOUN
ftr-402	193	19	that	that	PRON
ftr-402	193	20	interacts	interact	VERB
ftr-402	193	21	the	the	DET
ftr-402	193	22	market	market	NOUN
ftr-402	193	23	share	share	NOUN
ftr-402	193	24	variable	variable	NOUN
ftr-402	193	25	with	with	ADP
ftr-402	193	26	the	the	DET
ftr-402	193	27	1990	1990	NUM
ftr-402	193	28	effective	effective	ADJ
ftr-402	193	29	tax	tax	NOUN
ftr-402	193	30	rate	rate	NOUN
ftr-402	193	31	.	.	PUNCT
ftr-402	194	1	this	this	PRON
ftr-402	194	2	allows	allow	VERB
ftr-402	194	3	us	we	PRON
ftr-402	194	4	to	to	PART
ftr-402	194	5	test	test	VERB
ftr-402	194	6	,	,	PUNCT
ftr-402	194	7	for	for	ADP
ftr-402	194	8	example	example	NOUN
ftr-402	194	9	,	,	PUNCT
ftr-402	194	10	whether	whether	SCONJ
ftr-402	194	11	countries	country	NOUN
ftr-402	194	12	that	that	PRON
ftr-402	194	13	had	have	AUX
ftr-402	194	14	gained	gain	VERB
ftr-402	194	15	market	market	NOUN
ftr-402	194	16	share	share	NOUN
ftr-402	194	17	between	between	ADP
ftr-402	194	18	1984	1984	NUM
ftr-402	194	19	and	and	CCONJ
ftr-402	194	20	1992	1992	NUM
ftr-402	194	21	and	and	CCONJ
ftr-402	194	22	had	have	VERB
ftr-402	194	23	relatively	relatively	ADV
ftr-402	194	24	high	high	ADJ
ftr-402	194	25	effective	effective	ADJ
ftr-402	194	26	2005	2005	NUM
ftr-402	194	27	]	]	PUNCT
ftr-402	194	28	the	the	DET
ftr-402	194	29	three	three	NUM
ftr-402	194	30	parties	party	NOUN
ftr-402	194	31	in	in	ADP
ftr-402	194	32	the	the	DET
ftr-402	194	33	race	race	NOUN
ftr-402	194	34	to	to	ADP
ftr-402	194	35	the	the	DET
ftr-402	194	36	bottom	bottom	ADJ
ftr-402	194	37	161	161	NUM
ftr-402	194	38	tax	tax	NOUN
ftr-402	194	39	rates	rate	NOUN
ftr-402	194	40	felt	feel	VERB
ftr-402	194	41	less	less	ADJ
ftr-402	194	42	pressure	pressure	NOUN
ftr-402	194	43	to	to	PART
ftr-402	194	44	lower	lower	VERB
ftr-402	194	45	their	their	PRON
ftr-402	194	46	tax	tax	NOUN
ftr-402	194	47	rates	rate	NOUN
ftr-402	194	48	.	.	PUNCT
ftr-402	195	1	alternatively	alternatively	ADV
ftr-402	195	2	,	,	PUNCT
ftr-402	195	3	the	the	DET
ftr-402	195	4	question	question	NOUN
ftr-402	195	5	can	can	AUX
ftr-402	195	6	be	be	AUX
ftr-402	195	7	posed	pose	VERB
ftr-402	195	8	as	as	SCONJ
ftr-402	195	9	follows	follow	VERB
ftr-402	195	10	:	:	PUNCT
ftr-402	195	11	does	do	AUX
ftr-402	195	12	the	the	DET
ftr-402	195	13	increase	increase	NOUN
ftr-402	195	14	in	in	ADP
ftr-402	195	15	capital	capital	NOUN
ftr-402	195	16	mobility	mobility	NOUN
ftr-402	195	17	over	over	ADP
ftr-402	195	18	the	the	DET
ftr-402	195	19	19841992	19841992	NUM
ftr-402	195	20	period	period	NOUN
ftr-402	195	21	explain	explain	VERB
ftr-402	195	22	the	the	DET
ftr-402	195	23	pattern	pattern	NOUN
ftr-402	195	24	of	of	ADP
ftr-402	195	25	declines	decline	NOUN
ftr-402	195	26	in	in	ADP
ftr-402	195	27	effective	effective	ADJ
ftr-402	195	28	tax	tax	NOUN
ftr-402	195	29	rates	rate	NOUN
ftr-402	195	30	?	?	PUNCT
ftr-402	196	1	the	the	DET
ftr-402	196	2	high	high	ADJ
ftr-402	196	3	-	-	PUNCT
ftr-402	196	4	tax	tax	NOUN
ftr-402	196	5	countries	country	NOUN
ftr-402	196	6	that	that	PRON
ftr-402	196	7	lost	lose	VERB
ftr-402	196	8	substantial	substantial	ADJ
ftr-402	196	9	market	market	NOUN
ftr-402	196	10	share	share	NOUN
ftr-402	196	11	would	would	AUX
ftr-402	196	12	have	have	AUX
ftr-402	196	13	been	be	AUX
ftr-402	196	14	the	the	DET
ftr-402	196	15	most	most	ADV
ftr-402	196	16	likely	likely	ADJ
ftr-402	196	17	to	to	PART
ftr-402	196	18	conclude	conclude	VERB
ftr-402	196	19	that	that	SCONJ
ftr-402	196	20	capital	capital	NOUN
ftr-402	196	21	mobility	mobility	NOUN
ftr-402	196	22	increased	increase	VERB
ftr-402	196	23	.	.	PUNCT
ftr-402	197	1	conversely	conversely	ADV
ftr-402	197	2	the	the	DET
ftr-402	197	3	low	low	ADJ
ftr-402	197	4	-	-	PUNCT
ftr-402	197	5	tax	tax	NOUN
ftr-402	197	6	countries	country	NOUN
ftr-402	197	7	that	that	PRON
ftr-402	197	8	did	do	AUX
ftr-402	197	9	not	not	PART
ftr-402	197	10	gain	gain	VERB
ftr-402	197	11	or	or	CCONJ
ftr-402	197	12	even	even	ADV
ftr-402	197	13	lost	lose	VERB
ftr-402	197	14	would	would	AUX
ftr-402	197	15	have	have	AUX
ftr-402	197	16	felt	feel	VERB
ftr-402	197	17	no	no	DET
ftr-402	197	18	pressure	pressure	NOUN
ftr-402	197	19	to	to	PART
ftr-402	197	20	lower	lower	VERB
ftr-402	197	21	their	their	PRON
ftr-402	197	22	tax	tax	NOUN
ftr-402	197	23	rates	rate	NOUN
ftr-402	197	24	any	any	PRON
ftr-402	197	25	further	far	ADV
ftr-402	197	26	.	.	PUNCT
ftr-402	198	1	but	but	CCONJ
ftr-402	198	2	,	,	PUNCT
ftr-402	198	3	the	the	DET
ftr-402	198	4	estimated	estimate	VERB
ftr-402	198	5	coefficient	coefficient	NOUN
ftr-402	198	6	on	on	ADP
ftr-402	198	7	the	the	DET
ftr-402	198	8	interaction	interaction	NOUN
ftr-402	198	9	term	term	NOUN
ftr-402	198	10	,	,	PUNCT
ftr-402	198	11	shown	show	VERB
ftr-402	198	12	in	in	ADP
ftr-402	198	13	column	column	NOUN
ftr-402	198	14	2	2	NUM
ftr-402	198	15	,	,	PUNCT
ftr-402	198	16	is	be	AUX
ftr-402	198	17	not	not	PART
ftr-402	198	18	significantly	significantly	ADV
ftr-402	198	19	different	different	ADJ
ftr-402	198	20	from	from	ADP
ftr-402	198	21	zero	zero	NUM
ftr-402	198	22	.	.	PUNCT
ftr-402	199	1	this	this	PRON
ftr-402	199	2	suggests	suggest	VERB
ftr-402	199	3	to	to	ADP
ftr-402	199	4	us	we	PRON
ftr-402	199	5	that	that	SCONJ
ftr-402	199	6	the	the	DET
ftr-402	199	7	changes	change	NOUN
ftr-402	199	8	in	in	ADP
ftr-402	199	9	effective	effective	ADJ
ftr-402	199	10	tax	tax	NOUN
ftr-402	199	11	rates	rate	NOUN
ftr-402	199	12	between	between	ADP
ftr-402	199	13	1992	1992	NUM
ftr-402	199	14	and	and	CCONJ
ftr-402	199	15	1998	1998	NUM
ftr-402	199	16	are	be	AUX
ftr-402	199	17	more	more	ADV
ftr-402	199	18	the	the	DET
ftr-402	199	19	result	result	NOUN
ftr-402	199	20	of	of	ADP
ftr-402	199	21	simple	simple	ADJ
ftr-402	199	22	tax	tax	NOUN
ftr-402	199	23	competition	competition	NOUN
ftr-402	199	24	among	among	ADP
ftr-402	199	25	countries	country	NOUN
ftr-402	199	26	than	than	ADP
ftr-402	199	27	countries	country	NOUN
ftr-402	199	28	responding	respond	VERB
ftr-402	199	29	to	to	ADP
ftr-402	199	30	recent	recent	ADJ
ftr-402	199	31	increases	increase	NOUN
ftr-402	199	32	in	in	ADP
ftr-402	199	33	capital	capital	NOUN
ftr-402	199	34	mobility	mobility	NOUN
ftr-402	199	35	.	.	PUNCT
ftr-402	200	1	the	the	DET
ftr-402	200	2	third	third	ADJ
ftr-402	200	3	column	column	NOUN
ftr-402	200	4	shows	show	VERB
ftr-402	200	5	the	the	DET
ftr-402	200	6	result	result	NOUN
ftr-402	200	7	of	of	ADP
ftr-402	200	8	a	a	DET
ftr-402	200	9	more	more	ADV
ftr-402	200	10	sophisticated	sophisticated	ADJ
ftr-402	200	11	test	test	NOUN
ftr-402	200	12	designed	design	VERB
ftr-402	200	13	to	to	PART
ftr-402	200	14	identify	identify	VERB
ftr-402	200	15	the	the	DET
ftr-402	200	16	role	role	NOUN
ftr-402	200	17	played	play	VERB
ftr-402	200	18	by	by	ADP
ftr-402	200	19	increased	increase	VERB
ftr-402	200	20	capital	capital	NOUN
ftr-402	200	21	mobility	mobility	NOUN
ftr-402	200	22	.	.	PUNCT
ftr-402	201	1	we	we	PRON
ftr-402	201	2	start	start	VERB
ftr-402	201	3	by	by	ADP
ftr-402	201	4	using	use	VERB
ftr-402	201	5	the	the	DET
ftr-402	201	6	coefficient	coefficient	NOUN
ftr-402	201	7	estimates	estimate	NOUN
ftr-402	201	8	from	from	ADP
ftr-402	201	9	the	the	DET
ftr-402	201	10	regression	regression	NOUN
ftr-402	201	11	equation	equation	NOUN
ftr-402	201	12	in	in	ADP
ftr-402	201	13	agn	agn	NOUN
ftr-402	201	14	to	to	PART
ftr-402	201	15	predict	predict	VERB
ftr-402	201	16	the	the	DET
ftr-402	201	17	change	change	NOUN
ftr-402	201	18	in	in	ADP
ftr-402	201	19	capital	capital	NOUN
ftr-402	201	20	between	between	ADP
ftr-402	201	21	1984	1984	NUM
ftr-402	201	22	and	and	CCONJ
ftr-402	201	23	1992	1992	NUM
ftr-402	201	24	.	.	PUNCT
ftr-402	202	1	we	we	PRON
ftr-402	202	2	then	then	ADV
ftr-402	202	3	calculate	calculate	VERB
ftr-402	202	4	the	the	DET
ftr-402	202	5	difference	difference	NOUN
ftr-402	202	6	between	between	ADP
ftr-402	202	7	the	the	DET
ftr-402	202	8	actual	actual	ADJ
ftr-402	202	9	change	change	NOUN
ftr-402	202	10	in	in	ADP
ftr-402	202	11	capital	capital	NOUN
ftr-402	202	12	and	and	CCONJ
ftr-402	202	13	the	the	DET
ftr-402	202	14	predicted	predict	VERB
ftr-402	202	15	change	change	NOUN
ftr-402	202	16	.	.	PUNCT
ftr-402	203	1	countries	country	NOUN
ftr-402	203	2	with	with	ADP
ftr-402	203	3	more	more	ADJ
ftr-402	203	4	elastic	elastic	ADJ
ftr-402	203	5	supplies	supply	NOUN
ftr-402	203	6	of	of	ADP
ftr-402	203	7	capital	capital	NOUN
ftr-402	203	8	will	will	AUX
ftr-402	203	9	gain	gain	VERB
ftr-402	203	10	(	(	PUNCT
ftr-402	203	11	lose	lose	VERB
ftr-402	203	12	)	)	PUNCT
ftr-402	203	13	more	more	ADJ
ftr-402	203	14	capital	capital	NOUN
ftr-402	203	15	when	when	SCONJ
ftr-402	203	16	tax	tax	NOUN
ftr-402	203	17	burdens	burden	NOUN
ftr-402	203	18	are	be	AUX
ftr-402	203	19	lowered	lower	VERB
ftr-402	203	20	(	(	PUNCT
ftr-402	203	21	increased	increase	VERB
ftr-402	203	22	)	)	PUNCT
ftr-402	203	23	.	.	PUNCT
ftr-402	204	1	to	to	PART
ftr-402	204	2	capture	capture	VERB
ftr-402	204	3	this	this	PRON
ftr-402	204	4	,	,	PUNCT
ftr-402	204	5	we	we	PRON
ftr-402	204	6	interact	interact	VERB
ftr-402	204	7	the	the	DET
ftr-402	204	8	difference	difference	NOUN
ftr-402	204	9	between	between	ADP
ftr-402	204	10	the	the	DET
ftr-402	204	11	actual	actual	ADJ
ftr-402	204	12	and	and	CCONJ
ftr-402	204	13	predicted	predict	VERB
ftr-402	204	14	change	change	NOUN
ftr-402	204	15	in	in	ADP
ftr-402	204	16	capital	capital	NOUN
ftr-402	204	17	with	with	ADP
ftr-402	204	18	the	the	DET
ftr-402	204	19	tax	tax	NOUN
ftr-402	204	20	terms	term	NOUN
ftr-402	204	21	relevant	relevant	ADJ
ftr-402	204	22	for	for	ADP
ftr-402	204	23	the	the	DET
ftr-402	204	24	change	change	NOUN
ftr-402	204	25	in	in	ADP
ftr-402	204	26	capital	capital	NOUN
ftr-402	204	27	(	(	PUNCT
ftr-402	204	28	the	the	DET
ftr-402	204	29	1984	1984	NUM
ftr-402	204	30	effective	effective	ADJ
ftr-402	204	31	tax	tax	NOUN
ftr-402	204	32	rate	rate	NOUN
ftr-402	204	33	and	and	CCONJ
ftr-402	204	34	the	the	DET
ftr-402	204	35	difference	difference	NOUN
ftr-402	204	36	in	in	ADP
ftr-402	204	37	the	the	DET
ftr-402	204	38	1984	1984	NUM
ftr-402	204	39	and	and	CCONJ
ftr-402	204	40	1992	1992	NUM
ftr-402	204	41	rates	rate	NOUN
ftr-402	204	42	)	)	PUNCT
ftr-402	204	43	and	and	CCONJ
ftr-402	204	44	test	test	VERB
ftr-402	204	45	whether	whether	SCONJ
ftr-402	204	46	the	the	DET
ftr-402	204	47	interacted	interact	VERB
ftr-402	204	48	term	term	NOUN
ftr-402	204	49	is	be	AUX
ftr-402	204	50	a	a	DET
ftr-402	204	51	significant	significant	ADJ
ftr-402	204	52	explanatory	explanatory	ADJ
ftr-402	204	53	variable	variable	NOUN
ftr-402	204	54	.	.	PUNCT
ftr-402	205	1	column	column	NOUN
ftr-402	205	2	3	3	NUM
ftr-402	205	3	shows	show	VERB
ftr-402	205	4	that	that	SCONJ
ftr-402	205	5	the	the	DET
ftr-402	205	6	interaction	interaction	NOUN
ftr-402	205	7	term	term	NOUN
ftr-402	205	8	is	be	AUX
ftr-402	205	9	not	not	PART
ftr-402	205	10	statistically	statistically	ADV
ftr-402	205	11	different	different	ADJ
ftr-402	205	12	from	from	ADP
ftr-402	205	13	zero	zero	NUM
ftr-402	205	14	.	.	PUNCT
ftr-402	206	1	although	although	SCONJ
ftr-402	206	2	we	we	PRON
ftr-402	206	3	plan	plan	VERB
ftr-402	206	4	to	to	PART
ftr-402	206	5	continue	continue	VERB
ftr-402	206	6	work	work	NOUN
ftr-402	206	7	on	on	ADP
ftr-402	206	8	this	this	DET
ftr-402	206	9	topic	topic	NOUN
ftr-402	206	10	,	,	PUNCT
ftr-402	206	11	our	our	PRON
ftr-402	206	12	results	result	NOUN
ftr-402	206	13	to	to	ADP
ftr-402	206	14	date	date	NOUN
ftr-402	206	15	suggest	suggest	VERB
ftr-402	206	16	that	that	SCONJ
ftr-402	206	17	increased	increase	VERB
ftr-402	206	18	mobility	mobility	NOUN
ftr-402	206	19	does	do	AUX
ftr-402	206	20	not	not	PART
ftr-402	206	21	explain	explain	VERB
ftr-402	206	22	movements	movement	NOUN
ftr-402	206	23	in	in	ADP
ftr-402	206	24	effective	effective	ADJ
ftr-402	206	25	tax	tax	NOUN
ftr-402	206	26	rates	rate	NOUN
ftr-402	206	27	as	as	ADV
ftr-402	206	28	well	well	ADV
ftr-402	206	29	as	as	ADP
ftr-402	206	30	simple	simple	ADJ
ftr-402	206	31	differences	difference	NOUN
ftr-402	206	32	in	in	ADP
ftr-402	206	33	changes	change	NOUN
ftr-402	206	34	in	in	ADP
ftr-402	206	35	capital	capital	NOUN
ftr-402	206	36	shares	share	NOUN
ftr-402	206	37	.	.	PUNCT
ftr-402	207	1	we	we	PRON
ftr-402	207	2	test	test	VERB
ftr-402	207	3	whether	whether	SCONJ
ftr-402	207	4	changes	change	NOUN
ftr-402	207	5	in	in	ADP
ftr-402	207	6	effective	effective	ADJ
ftr-402	207	7	tax	tax	NOUN
ftr-402	207	8	rates	rate	NOUN
ftr-402	207	9	differ	differ	VERB
ftr-402	207	10	across	across	ADP
ftr-402	207	11	regions	region	NOUN
ftr-402	207	12	in	in	ADP
ftr-402	207	13	the	the	DET
ftr-402	207	14	fourth	fourth	ADJ
ftr-402	207	15	column	column	NOUN
ftr-402	207	16	of	of	ADP
ftr-402	207	17	table	table	NOUN
ftr-402	207	18	2a	2a	NUM
ftr-402	207	19	.	.	PUNCT
ftr-402	208	1	only	only	ADV
ftr-402	208	2	the	the	DET
ftr-402	208	3	dummy	dummy	ADJ
ftr-402	208	4	variable	variable	NOUN
ftr-402	208	5	for	for	ADP
ftr-402	208	6	latin	latin	PROPN
ftr-402	208	7	america	america	PROPN
ftr-402	208	8	has	have	VERB
ftr-402	208	9	an	an	DET
ftr-402	208	10	estimated	estimate	VERB
ftr-402	208	11	coefficient	coefficient	NOUN
ftr-402	208	12	that	that	PRON
ftr-402	208	13	is	be	AUX
ftr-402	208	14	statistically	statistically	ADV
ftr-402	208	15	different	different	ADJ
ftr-402	208	16	from	from	ADP
ftr-402	208	17	zero	zero	NUM
ftr-402	208	18	at	at	ADP
ftr-402	208	19	conventional	conventional	ADJ
ftr-402	208	20	levels	level	NOUN
ftr-402	208	21	.	.	PUNCT
ftr-402	209	1	interestingly	interestingly	ADV
ftr-402	209	2	,	,	PUNCT
ftr-402	209	3	the	the	DET
ftr-402	209	4	coefficient	coefficient	NOUN
ftr-402	209	5	is	be	AUX
ftr-402	209	6	negative	negative	ADJ
ftr-402	209	7	which	which	PRON
ftr-402	209	8	indicates	indicate	VERB
ftr-402	209	9	that	that	SCONJ
ftr-402	209	10	latin	latin	ADJ
ftr-402	209	11	american	american	ADJ
ftr-402	209	12	countries	country	NOUN
ftr-402	209	13	cut	cut	VERB
ftr-402	209	14	their	their	PRON
ftr-402	209	15	rates	rate	NOUN
ftr-402	209	16	less	less	ADV
ftr-402	209	17	on	on	ADP
ftr-402	209	18	average	average	ADJ
ftr-402	209	19	between	between	ADP
ftr-402	209	20	1992	1992	NUM
ftr-402	209	21	and	and	CCONJ
ftr-402	209	22	1998	1998	NUM
ftr-402	209	23	.	.	PUNCT
ftr-402	210	1	in	in	ADP
ftr-402	210	2	an	an	DET
ftr-402	210	3	experiment	experiment	NOUN
ftr-402	210	4	that	that	PRON
ftr-402	210	5	we	we	PRON
ftr-402	210	6	do	do	AUX
ftr-402	210	7	not	not	PART
ftr-402	210	8	report	report	VERB
ftr-402	210	9	,	,	PUNCT
ftr-402	210	10	we	we	PRON
ftr-402	210	11	interact	interact	VERB
ftr-402	210	12	regional	regional	ADJ
ftr-402	210	13	dummy	dummy	ADJ
ftr-402	210	14	variables	variable	NOUN
ftr-402	210	15	for	for	ADP
ftr-402	210	16	two	two	NUM
ftr-402	210	17	areas	area	NOUN
ftr-402	210	18	of	of	ADP
ftr-402	210	19	interest	interest	NOUN
ftr-402	210	20	,	,	PUNCT
ftr-402	210	21	the	the	DET
ftr-402	210	22	eec	eec	PROPN
ftr-402	210	23	and	and	CCONJ
ftr-402	210	24	asia	asia	PROPN
ftr-402	210	25	,	,	PUNCT
ftr-402	210	26	with	with	ADP
ftr-402	210	27	the	the	DET
ftr-402	210	28	change	change	NOUN
ftr-402	210	29	in	in	ADP
ftr-402	210	30	capital	capital	NOUN
ftr-402	210	31	share	share	NOUN
ftr-402	210	32	variable	variable	NOUN
ftr-402	210	33	(	(	PUNCT
ftr-402	210	34	log	log	NOUN
ftr-402	210	35	of	of	ADP
ftr-402	210	36	capital	capital	NOUN
ftr-402	210	37	in	in	ADP
ftr-402	210	38	1992	1992	NUM
ftr-402	210	39	–	–	PUNCT
ftr-402	210	40	log	log	NOUN
ftr-402	210	41	of	of	ADP
ftr-402	210	42	capital	capital	NOUN
ftr-402	210	43	in	in	ADP
ftr-402	210	44	1984	1984	NUM
ftr-402	210	45	)	)	PUNCT
ftr-402	210	46	.	.	PUNCT
ftr-402	211	1	neither	neither	DET
ftr-402	211	2	coefficient	coefficient	NOUN
ftr-402	211	3	on	on	ADP
ftr-402	211	4	the	the	DET
ftr-402	211	5	regional	regional	ADJ
ftr-402	211	6	interaction	interaction	NOUN
ftr-402	211	7	terms	term	NOUN
ftr-402	211	8	was	be	AUX
ftr-402	211	9	statistically	statistically	ADV
ftr-402	211	10	different	different	ADJ
ftr-402	211	11	from	from	ADP
ftr-402	211	12	zero	zero	NUM
ftr-402	211	13	which	which	PRON
ftr-402	211	14	suggests	suggest	VERB
ftr-402	211	15	that	that	SCONJ
ftr-402	211	16	tax	tax	NOUN
ftr-402	211	17	competition	competition	NOUN
ftr-402	211	18	was	be	AUX
ftr-402	211	19	no	no	ADV
ftr-402	211	20	different	different	ADJ
ftr-402	211	21	on	on	ADP
ftr-402	211	22	average	average	ADJ
ftr-402	211	23	in	in	ADP
ftr-402	211	24	these	these	DET
ftr-402	211	25	regions	region	NOUN
ftr-402	211	26	.	.	PUNCT
ftr-402	212	1	table	table	NOUN
ftr-402	212	2	2b	2b	NOUN
ftr-402	212	3	includes	include	VERB
ftr-402	212	4	the	the	DET
ftr-402	212	5	2000	2000	NUM
ftr-402	212	6	data	datum	NOUN
ftr-402	212	7	.	.	PUNCT
ftr-402	213	1	as	as	SCONJ
ftr-402	213	2	mentioned	mention	VERB
ftr-402	213	3	above	above	ADV
ftr-402	213	4	,	,	PUNCT
ftr-402	213	5	we	we	PRON
ftr-402	213	6	are	be	AUX
ftr-402	213	7	interested	interested	ADJ
ftr-402	213	8	in	in	ADP
ftr-402	213	9	exploring	explore	VERB
ftr-402	213	10	whether	whether	SCONJ
ftr-402	213	11	,	,	PUNCT
ftr-402	213	12	in	in	ADP
ftr-402	213	13	recent	recent	ADJ
ftr-402	213	14	years	year	NOUN
ftr-402	213	15	,	,	PUNCT
ftr-402	213	16	company	company	NOUN
ftr-402	213	17	rather	rather	ADV
ftr-402	213	18	than	than	ADP
ftr-402	213	19	country	country	NOUN
ftr-402	213	20	behavior	behavior	NOUN
ftr-402	213	21	explains	explain	VERB
ftr-402	213	22	the	the	DET
ftr-402	213	23	pattern	pattern	NOUN
ftr-402	213	24	of	of	ADP
ftr-402	213	25	decreases	decrease	NOUN
ftr-402	213	26	in	in	ADP
ftr-402	213	27	effective	effective	ADJ
ftr-402	213	28	tax	tax	NOUN
ftr-402	213	29	rates	rate	NOUN
ftr-402	213	30	.	.	PUNCT
ftr-402	214	1	accordingly	accordingly	ADV
ftr-402	214	2	,	,	PUNCT
ftr-402	214	3	an	an	DET
ftr-402	214	4	important	important	ADJ
ftr-402	214	5	explanatory	explanatory	ADJ
ftr-402	214	6	variable	variable	NOUN
ftr-402	214	7	to	to	PART
ftr-402	214	8	include	include	VERB
ftr-402	214	9	in	in	ADP
ftr-402	214	10	the	the	DET
ftr-402	214	11	analysis	analysis	NOUN
ftr-402	214	12	is	be	AUX
ftr-402	214	13	the	the	DET
ftr-402	214	14	statutory	statutory	ADJ
ftr-402	214	15	tax	tax	NOUN
ftr-402	214	16	rate	rate	NOUN
ftr-402	214	17	.	.	PUNCT
ftr-402	215	1	the	the	DET
ftr-402	215	2	higher	high	ADJ
ftr-402	215	3	is	be	AUX
ftr-402	215	4	this	this	DET
ftr-402	215	5	rate	rate	NOUN
ftr-402	215	6	the	the	PRON
ftr-402	215	7	greater	great	ADJ
ftr-402	215	8	the	the	DET
ftr-402	215	9	incentive	incentive	NOUN
ftr-402	215	10	to	to	PART
ftr-402	215	11	strip	strip	VERB
ftr-402	215	12	income	income	NOUN
ftr-402	215	13	out	out	ADP
ftr-402	215	14	of	of	ADP
ftr-402	215	15	high	high	ADJ
ftr-402	215	16	-	-	PUNCT
ftr-402	215	17	tax	tax	NOUN
ftr-402	215	18	countries	country	NOUN
ftr-402	215	19	with	with	ADP
ftr-402	215	20	related	related	ADJ
ftr-402	215	21	party	party	NOUN
ftr-402	215	22	debt	debt	NOUN
ftr-402	215	23	,	,	PUNCT
ftr-402	215	24	for	for	ADP
ftr-402	215	25	example	example	NOUN
ftr-402	215	26	,	,	PUNCT
ftr-402	215	27	to	to	PART
ftr-402	215	28	lower	lower	VERB
ftr-402	215	29	the	the	DET
ftr-402	215	30	effective	effective	ADJ
ftr-402	215	31	tax	tax	NOUN
ftr-402	215	32	burden	burden	NOUN
ftr-402	215	33	on	on	ADP
ftr-402	215	34	investment	investment	NOUN
ftr-402	215	35	.	.	PUNCT
ftr-402	216	1	thus	thus	ADV
ftr-402	216	2	,	,	PUNCT
ftr-402	216	3	the	the	DET
ftr-402	216	4	extent	extent	NOUN
ftr-402	216	5	to	to	PART
ftr-402	216	6	which	which	PRON
ftr-402	216	7	company	company	NOUN
ftr-402	216	8	responses	response	NOUN
ftr-402	216	9	cause	cause	VERB
ftr-402	216	10	decreases	decrease	NOUN
ftr-402	216	11	in	in	ADP
ftr-402	216	12	effective	effective	ADJ
ftr-402	216	13	tax	tax	NOUN
ftr-402	216	14	rates	rate	NOUN
ftr-402	216	15	will	will	AUX
ftr-402	216	16	be	be	AUX
ftr-402	216	17	captured	capture	VERB
ftr-402	216	18	by	by	ADP
ftr-402	216	19	the	the	DET
ftr-402	216	20	coefficient	coefficient	ADJ
ftr-402	216	21	estimate	estimate	NOUN
ftr-402	216	22	on	on	ADP
ftr-402	216	23	the	the	DET
ftr-402	216	24	statutory	statutory	ADJ
ftr-402	216	25	rate	rate	NOUN
ftr-402	216	26	.	.	PUNCT
ftr-402	217	1	if	if	SCONJ
ftr-402	217	2	country	country	NOUN
ftr-402	217	3	responses	response	NOUN
ftr-402	217	4	are	be	AUX
ftr-402	217	5	driving	drive	VERB
ftr-402	217	6	the	the	DET
ftr-402	217	7	effective	effective	ADJ
ftr-402	217	8	tax	tax	NOUN
ftr-402	217	9	rate	rate	NOUN
ftr-402	217	10	reductions	reduction	NOUN
ftr-402	217	11	,	,	PUNCT
ftr-402	217	12	we	we	PRON
ftr-402	217	13	would	would	AUX
ftr-402	217	14	162	162	NUM
ftr-402	217	15	florida	florida	PROPN
ftr-402	217	16	tax	tax	NOUN
ftr-402	217	17	review	review	NOUN
ftr-402	217	18	[	[	X
ftr-402	217	19	vol.7:3	vol.7:3	NOUN
ftr-402	217	20	not	not	PART
ftr-402	217	21	expect	expect	VERB
ftr-402	217	22	statutory	statutory	ADJ
ftr-402	217	23	rates	rate	NOUN
ftr-402	217	24	to	to	PART
ftr-402	217	25	be	be	AUX
ftr-402	217	26	correlated	correlate	VERB
ftr-402	217	27	with	with	ADP
ftr-402	217	28	changes	change	NOUN
ftr-402	217	29	in	in	ADP
ftr-402	217	30	effective	effective	ADJ
ftr-402	217	31	tax	tax	NOUN
ftr-402	217	32	rates	rate	NOUN
ftr-402	217	33	.	.	PUNCT
ftr-402	218	1	countries	country	NOUN
ftr-402	218	2	with	with	ADP
ftr-402	218	3	high	high	ADJ
ftr-402	218	4	statutory	statutory	ADJ
ftr-402	218	5	rates	rate	NOUN
ftr-402	218	6	and	and	CCONJ
ftr-402	218	7	low	low	ADJ
ftr-402	218	8	effective	effective	ADJ
ftr-402	218	9	tax	tax	NOUN
ftr-402	218	10	rates	rate	NOUN
ftr-402	218	11	,	,	PUNCT
ftr-402	218	12	for	for	ADP
ftr-402	218	13	example	example	NOUN
ftr-402	218	14	,	,	PUNCT
ftr-402	218	15	would	would	AUX
ftr-402	218	16	not	not	PART
ftr-402	218	17	feel	feel	VERB
ftr-402	218	18	pressure	pressure	NOUN
ftr-402	218	19	to	to	PART
ftr-402	218	20	lower	lower	VERB
ftr-402	218	21	effective	effective	ADJ
ftr-402	218	22	tax	tax	NOUN
ftr-402	218	23	rates	rate	NOUN
ftr-402	218	24	to	to	PART
ftr-402	218	25	attract	attract	VERB
ftr-402	218	26	investment	investment	NOUN
ftr-402	218	27	.	.	PUNCT
ftr-402	219	1	as	as	ADP
ftr-402	219	2	a	a	DET
ftr-402	219	3	result	result	NOUN
ftr-402	219	4	,	,	PUNCT
ftr-402	219	5	the	the	DET
ftr-402	219	6	initial	initial	ADJ
ftr-402	219	7	level	level	NOUN
ftr-402	219	8	of	of	ADP
ftr-402	219	9	the	the	DET
ftr-402	219	10	statutory	statutory	ADJ
ftr-402	219	11	rate	rate	NOUN
ftr-402	219	12	would	would	AUX
ftr-402	219	13	not	not	PART
ftr-402	219	14	be	be	AUX
ftr-402	219	15	a	a	DET
ftr-402	219	16	significant	significant	ADJ
ftr-402	219	17	explanatory	explanatory	ADJ
ftr-402	219	18	variable	variable	NOUN
ftr-402	219	19	.	.	PUNCT
ftr-402	220	1	the	the	DET
ftr-402	220	2	first	first	ADJ
ftr-402	220	3	column	column	NOUN
ftr-402	220	4	of	of	ADP
ftr-402	220	5	table	table	NOUN
ftr-402	220	6	2b	2b	NOUN
ftr-402	220	7	adds	add	VERB
ftr-402	220	8	the	the	DET
ftr-402	220	9	statutory	statutory	ADJ
ftr-402	220	10	tax	tax	NOUN
ftr-402	220	11	rate	rate	NOUN
ftr-402	220	12	in	in	ADP
ftr-402	220	13	1992	1992	NUM
ftr-402	220	14	to	to	ADP
ftr-402	220	15	our	our	PRON
ftr-402	220	16	regressions	regression	NOUN
ftr-402	220	17	and	and	CCONJ
ftr-402	220	18	shows	show	VERB
ftr-402	220	19	that	that	SCONJ
ftr-402	220	20	it	it	PRON
ftr-402	220	21	is	be	AUX
ftr-402	220	22	not	not	PART
ftr-402	220	23	statistically	statistically	ADV
ftr-402	220	24	different	different	ADJ
ftr-402	220	25	from	from	ADP
ftr-402	220	26	zero	zero	NUM
ftr-402	220	27	.	.	PUNCT
ftr-402	221	1	these	these	DET
ftr-402	221	2	results	result	NOUN
ftr-402	221	3	change	change	VERB
ftr-402	221	4	markedly	markedly	ADV
ftr-402	221	5	when	when	SCONJ
ftr-402	221	6	we	we	PRON
ftr-402	221	7	extend	extend	VERB
ftr-402	221	8	our	our	PRON
ftr-402	221	9	analysis	analysis	NOUN
ftr-402	221	10	to	to	ADP
ftr-402	221	11	the	the	DET
ftr-402	221	12	year	year	NOUN
ftr-402	221	13	2000	2000	NUM
ftr-402	221	14	.	.	PUNCT
ftr-402	222	1	changes	change	NOUN
ftr-402	222	2	in	in	ADP
ftr-402	222	3	capital	capital	NOUN
ftr-402	222	4	share	share	NOUN
ftr-402	222	5	no	no	ADV
ftr-402	222	6	longer	long	ADV
ftr-402	222	7	explain	explain	VERB
ftr-402	222	8	differences	difference	NOUN
ftr-402	222	9	in	in	ADP
ftr-402	222	10	effective	effective	ADJ
ftr-402	222	11	tax	tax	NOUN
ftr-402	222	12	rate	rate	NOUN
ftr-402	222	13	decreases	decrease	NOUN
ftr-402	222	14	.	.	PUNCT
ftr-402	223	1	and	and	CCONJ
ftr-402	223	2	the	the	DET
ftr-402	223	3	statutory	statutory	ADJ
ftr-402	223	4	rate	rate	NOUN
ftr-402	223	5	in	in	ADP
ftr-402	223	6	1992	1992	NUM
ftr-402	223	7	,	,	PUNCT
ftr-402	223	8	while	while	SCONJ
ftr-402	223	9	not	not	PART
ftr-402	223	10	significant	significant	ADJ
ftr-402	223	11	at	at	ADP
ftr-402	223	12	conventional	conventional	ADJ
ftr-402	223	13	levels	level	NOUN
ftr-402	223	14	,	,	PUNCT
ftr-402	223	15	has	have	VERB
ftr-402	223	16	much	much	ADV
ftr-402	223	17	greater	great	ADJ
ftr-402	223	18	explanatory	explanatory	ADJ
ftr-402	223	19	power	power	NOUN
ftr-402	223	20	.	.	PUNCT
ftr-402	224	1	this	this	PRON
ftr-402	224	2	suggests	suggest	VERB
ftr-402	224	3	to	to	ADP
ftr-402	224	4	us	we	PRON
ftr-402	224	5	that	that	SCONJ
ftr-402	224	6	tax	tax	NOUN
ftr-402	224	7	changes	change	NOUN
ftr-402	224	8	between	between	ADP
ftr-402	224	9	1998	1998	NUM
ftr-402	224	10	and	and	CCONJ
ftr-402	224	11	2000	2000	NUM
ftr-402	224	12	may	may	AUX
ftr-402	224	13	be	be	AUX
ftr-402	224	14	the	the	DET
ftr-402	224	15	result	result	NOUN
ftr-402	224	16	of	of	ADP
ftr-402	224	17	a	a	DET
ftr-402	224	18	different	different	ADJ
ftr-402	224	19	dynamic	dynamic	NOUN
ftr-402	224	20	than	than	ADP
ftr-402	224	21	that	that	PRON
ftr-402	224	22	explaining	explain	VERB
ftr-402	224	23	the	the	DET
ftr-402	224	24	1992	1992	NUM
ftr-402	224	25	to	to	ADP
ftr-402	224	26	1998	1998	NUM
ftr-402	224	27	experience	experience	NOUN
ftr-402	224	28	.	.	PUNCT
ftr-402	225	1	tax	tax	NOUN
ftr-402	225	2	competition	competition	NOUN
ftr-402	225	3	seems	seem	VERB
ftr-402	225	4	to	to	PART
ftr-402	225	5	explain	explain	VERB
ftr-402	225	6	the	the	DET
ftr-402	225	7	changes	change	NOUN
ftr-402	225	8	in	in	ADP
ftr-402	225	9	rates	rate	NOUN
ftr-402	225	10	between	between	ADP
ftr-402	225	11	1992	1992	NUM
ftr-402	225	12	and	and	CCONJ
ftr-402	225	13	1998	1998	NUM
ftr-402	225	14	;	;	PUNCT
ftr-402	225	15	company	company	NOUN
ftr-402	225	16	tax	tax	NOUN
ftr-402	225	17	-	-	PUNCT
ftr-402	225	18	minimizing	minimize	VERB
ftr-402	225	19	behavior	behavior	NOUN
ftr-402	225	20	becomes	become	VERB
ftr-402	225	21	important	important	ADJ
ftr-402	225	22	when	when	SCONJ
ftr-402	225	23	we	we	PRON
ftr-402	225	24	add	add	VERB
ftr-402	225	25	the	the	DET
ftr-402	225	26	2000	2000	NUM
ftr-402	225	27	data	datum	NOUN
ftr-402	225	28	.	.	PUNCT
ftr-402	226	1	although	although	SCONJ
ftr-402	226	2	it	it	PRON
ftr-402	226	3	is	be	AUX
ftr-402	226	4	possible	possible	ADJ
ftr-402	226	5	that	that	SCONJ
ftr-402	226	6	countries	country	NOUN
ftr-402	226	7	are	be	AUX
ftr-402	226	8	competing	compete	VERB
ftr-402	226	9	by	by	ADP
ftr-402	226	10	lowering	lower	VERB
ftr-402	226	11	statutory	statutory	ADJ
ftr-402	226	12	corporate	corporate	ADJ
ftr-402	226	13	tax	tax	NOUN
ftr-402	226	14	rates	rate	NOUN
ftr-402	226	15	in	in	ADP
ftr-402	226	16	order	order	NOUN
ftr-402	226	17	to	to	PART
ftr-402	226	18	attract	attract	VERB
ftr-402	226	19	base	base	NOUN
ftr-402	226	20	shifting	shifting	NOUN
ftr-402	226	21	,	,	PUNCT
ftr-402	226	22	it	it	PRON
ftr-402	226	23	is	be	AUX
ftr-402	226	24	not	not	PART
ftr-402	226	25	clear	clear	ADJ
ftr-402	226	26	why	why	SCONJ
ftr-402	226	27	the	the	DET
ftr-402	226	28	pattern	pattern	NOUN
ftr-402	226	29	would	would	AUX
ftr-402	226	30	change	change	VERB
ftr-402	226	31	when	when	SCONJ
ftr-402	226	32	we	we	PRON
ftr-402	226	33	include	include	VERB
ftr-402	226	34	the	the	DET
ftr-402	226	35	2000	2000	NUM
ftr-402	226	36	data	datum	NOUN
ftr-402	226	37	.	.	PUNCT
ftr-402	227	1	table	table	NOUN
ftr-402	227	2	3	3	NUM
ftr-402	227	3	takes	take	VERB
ftr-402	227	4	a	a	DET
ftr-402	227	5	closer	close	ADJ
ftr-402	227	6	look	look	NOUN
ftr-402	227	7	at	at	ADP
ftr-402	227	8	the	the	DET
ftr-402	227	9	last	last	ADJ
ftr-402	227	10	two	two	NUM
ftr-402	227	11	years	year	NOUN
ftr-402	227	12	of	of	ADP
ftr-402	227	13	our	our	PRON
ftr-402	227	14	data	datum	NOUN
ftr-402	227	15	.	.	PUNCT
ftr-402	228	1	as	as	SCONJ
ftr-402	228	2	explained	explain	VERB
ftr-402	228	3	above	above	ADV
ftr-402	228	4	,	,	PUNCT
ftr-402	228	5	the	the	DET
ftr-402	228	6	incentive	incentive	NOUN
ftr-402	228	7	to	to	PART
ftr-402	228	8	use	use	VERB
ftr-402	228	9	self	self	NOUN
ftr-402	228	10	-	-	PUNCT
ftr-402	228	11	help	help	NOUN
ftr-402	228	12	tools	tool	NOUN
ftr-402	228	13	such	such	ADJ
ftr-402	228	14	as	as	ADP
ftr-402	228	15	hybrid	hybrid	ADJ
ftr-402	228	16	entities	entity	NOUN
ftr-402	228	17	to	to	PART
ftr-402	228	18	lower	low	ADJ
ftr-402	228	19	tax	tax	NOUN
ftr-402	228	20	burdens	burden	NOUN
ftr-402	228	21	depends	depend	VERB
ftr-402	228	22	on	on	ADP
ftr-402	228	23	statutory	statutory	ADJ
ftr-402	228	24	tax	tax	NOUN
ftr-402	228	25	rates	rate	NOUN
ftr-402	228	26	.	.	PUNCT
ftr-402	229	1	earnings	earning	NOUN
ftr-402	229	2	stripping	stripping	NOUN
ftr-402	229	3	,	,	PUNCT
ftr-402	229	4	which	which	PRON
ftr-402	229	5	can	can	AUX
ftr-402	229	6	be	be	AUX
ftr-402	229	7	accomplished	accomplish	VERB
ftr-402	229	8	through	through	ADP
ftr-402	229	9	the	the	DET
ftr-402	229	10	use	use	NOUN
ftr-402	229	11	of	of	ADP
ftr-402	229	12	hybrids	hybrid	NOUN
ftr-402	229	13	,	,	PUNCT
ftr-402	229	14	is	be	AUX
ftr-402	229	15	beneficial	beneficial	ADJ
ftr-402	229	16	when	when	SCONJ
ftr-402	229	17	interest	interest	NOUN
ftr-402	229	18	is	be	AUX
ftr-402	229	19	deducted	deduct	VERB
ftr-402	229	20	from	from	ADP
ftr-402	229	21	an	an	DET
ftr-402	229	22	affiliate	affiliate	NOUN
ftr-402	229	23	in	in	ADP
ftr-402	229	24	a	a	DET
ftr-402	229	25	high	high	ADJ
ftr-402	229	26	statutory	statutory	ADJ
ftr-402	229	27	tax	tax	NOUN
ftr-402	229	28	rate	rate	NOUN
ftr-402	229	29	country	country	NOUN
ftr-402	229	30	and	and	CCONJ
ftr-402	229	31	paid	pay	VERB
ftr-402	229	32	to	to	ADP
ftr-402	229	33	an	an	DET
ftr-402	229	34	affiliate	affiliate	NOUN
ftr-402	229	35	in	in	ADP
ftr-402	229	36	a	a	DET
ftr-402	229	37	low	low	ADJ
ftr-402	229	38	(	(	PUNCT
ftr-402	229	39	or	or	CCONJ
ftr-402	229	40	no	no	NOUN
ftr-402	229	41	)	)	PUNCT
ftr-402	229	42	statutory	statutory	ADJ
ftr-402	229	43	tax	tax	NOUN
ftr-402	229	44	rate	rate	NOUN
ftr-402	229	45	country	country	NOUN
ftr-402	229	46	.	.	PUNCT
ftr-402	230	1	table	table	NOUN
ftr-402	230	2	3	3	NUM
ftr-402	230	3	begins	begin	VERB
ftr-402	230	4	by	by	ADP
ftr-402	230	5	testing	test	VERB
ftr-402	230	6	whether	whether	SCONJ
ftr-402	230	7	the	the	DET
ftr-402	230	8	1996	1996	NUM
ftr-402	230	9	average	average	ADJ
ftr-402	230	10	effective	effective	ADJ
ftr-402	230	11	tax	tax	NOUN
ftr-402	230	12	rate	rate	NOUN
ftr-402	230	13	(	(	PUNCT
ftr-402	230	14	we	we	PRON
ftr-402	230	15	use	use	VERB
ftr-402	230	16	the	the	DET
ftr-402	230	17	1996	1996	NUM
ftr-402	230	18	rate	rate	NOUN
ftr-402	230	19	for	for	ADP
ftr-402	230	20	the	the	DET
ftr-402	230	21	same	same	ADJ
ftr-402	230	22	reasons	reason	NOUN
ftr-402	230	23	we	we	PRON
ftr-402	230	24	used	use	VERB
ftr-402	230	25	the	the	DET
ftr-402	230	26	1990	1990	NUM
ftr-402	230	27	rate	rate	NOUN
ftr-402	230	28	in	in	ADP
ftr-402	230	29	the	the	DET
ftr-402	230	30	table	table	NOUN
ftr-402	230	31	2	2	NUM
ftr-402	230	32	regressions	regression	NOUN
ftr-402	230	33	)	)	PUNCT
ftr-402	230	34	or	or	CCONJ
ftr-402	230	35	the	the	DET
ftr-402	230	36	statutory	statutory	ADJ
ftr-402	230	37	tax	tax	NOUN
ftr-402	230	38	rate	rate	NOUN
ftr-402	230	39	better	well	ADV
ftr-402	230	40	explains	explain	VERB
ftr-402	230	41	differences	difference	NOUN
ftr-402	230	42	in	in	ADP
ftr-402	230	43	changes	change	NOUN
ftr-402	230	44	in	in	ADP
ftr-402	230	45	average	average	ADJ
ftr-402	230	46	effective	effective	ADJ
ftr-402	230	47	tax	tax	NOUN
ftr-402	230	48	rates	rate	NOUN
ftr-402	230	49	across	across	ADP
ftr-402	230	50	countries	country	NOUN
ftr-402	230	51	between	between	ADP
ftr-402	230	52	1998	1998	NUM
ftr-402	230	53	and	and	CCONJ
ftr-402	230	54	2000	2000	NUM
ftr-402	230	55	.	.	PUNCT
ftr-402	231	1	again	again	ADV
ftr-402	231	2	the	the	DET
ftr-402	231	3	dependent	dependent	ADJ
ftr-402	231	4	variable	variable	NOUN
ftr-402	231	5	is	be	AUX
ftr-402	231	6	constructed	construct	VERB
ftr-402	231	7	to	to	PART
ftr-402	231	8	be	be	AUX
ftr-402	231	9	positive	positive	ADJ
ftr-402	231	10	when	when	SCONJ
ftr-402	231	11	tax	tax	NOUN
ftr-402	231	12	rates	rate	NOUN
ftr-402	231	13	fall	fall	VERB
ftr-402	231	14	:	:	PUNCT
ftr-402	231	15	it	it	PRON
ftr-402	231	16	equals	equal	VERB
ftr-402	231	17	the	the	DET
ftr-402	231	18	aetr	aetr	NOUN
ftr-402	231	19	for	for	ADP
ftr-402	231	20	1998	1998	NUM
ftr-402	231	21	minus	minus	ADP
ftr-402	231	22	the	the	DET
ftr-402	231	23	aetr	aetr	NOUN
ftr-402	231	24	for	for	ADP
ftr-402	231	25	2000	2000	NUM
ftr-402	231	26	.	.	PUNCT
ftr-402	232	1	the	the	DET
ftr-402	232	2	first	first	ADJ
ftr-402	232	3	two	two	NUM
ftr-402	232	4	columns	column	NOUN
ftr-402	232	5	of	of	ADP
ftr-402	232	6	table	table	NOUN
ftr-402	232	7	3	3	NUM
ftr-402	232	8	test	test	NOUN
ftr-402	232	9	whether	whether	SCONJ
ftr-402	232	10	the	the	DET
ftr-402	232	11	average	average	ADJ
ftr-402	232	12	effective	effective	ADJ
ftr-402	232	13	tax	tax	NOUN
ftr-402	232	14	rate	rate	NOUN
ftr-402	232	15	in	in	ADP
ftr-402	232	16	1996	1996	NUM
ftr-402	232	17	explains	explain	VERB
ftr-402	232	18	any	any	PRON
ftr-402	232	19	of	of	ADP
ftr-402	232	20	the	the	DET
ftr-402	232	21	variation	variation	NOUN
ftr-402	232	22	in	in	ADP
ftr-402	232	23	the	the	DET
ftr-402	232	24	change	change	NOUN
ftr-402	232	25	in	in	ADP
ftr-402	232	26	effective	effective	ADJ
ftr-402	232	27	tax	tax	NOUN
ftr-402	232	28	rates	rate	NOUN
ftr-402	232	29	from	from	ADP
ftr-402	232	30	1998	1998	NUM
ftr-402	232	31	to	to	ADP
ftr-402	232	32	2000	2000	NUM
ftr-402	232	33	.	.	PUNCT
ftr-402	233	1	note	note	VERB
ftr-402	233	2	that	that	SCONJ
ftr-402	233	3	the	the	DET
ftr-402	233	4	estimated	estimate	VERB
ftr-402	233	5	coefficient	coefficient	NOUN
ftr-402	233	6	on	on	ADP
ftr-402	233	7	the	the	DET
ftr-402	233	8	1996	1996	NUM
ftr-402	233	9	rate	rate	NOUN
ftr-402	233	10	,	,	PUNCT
ftr-402	233	11	while	while	SCONJ
ftr-402	233	12	positive	positive	ADJ
ftr-402	233	13	,	,	PUNCT
ftr-402	233	14	is	be	AUX
ftr-402	233	15	not	not	PART
ftr-402	233	16	statistically	statistically	ADV
ftr-402	233	17	different	different	ADJ
ftr-402	233	18	from	from	ADP
ftr-402	233	19	zero	zero	NUM
ftr-402	233	20	at	at	ADP
ftr-402	233	21	standard	standard	ADJ
ftr-402	233	22	levels	level	NOUN
ftr-402	233	23	.	.	PUNCT
ftr-402	234	1	also	also	ADV
ftr-402	234	2	,	,	PUNCT
ftr-402	234	3	the	the	DET
ftr-402	234	4	coefficient	coefficient	NOUN
ftr-402	234	5	on	on	ADP
ftr-402	234	6	the	the	DET
ftr-402	234	7	small	small	ADJ
ftr-402	234	8	country	country	NOUN
ftr-402	234	9	dummy	dummy	NOUN
ftr-402	234	10	is	be	AUX
ftr-402	234	11	no	no	ADV
ftr-402	234	12	longer	long	ADV
ftr-402	234	13	positive	positive	ADJ
ftr-402	234	14	and	and	CCONJ
ftr-402	234	15	is	be	AUX
ftr-402	234	16	not	not	PART
ftr-402	234	17	statistically	statistically	ADV
ftr-402	234	18	different	different	ADJ
ftr-402	234	19	from	from	ADP
ftr-402	234	20	zero	zero	NUM
ftr-402	234	21	.	.	PUNCT
ftr-402	235	1	the	the	DET
ftr-402	235	2	evidence	evidence	NOUN
ftr-402	235	3	for	for	ADP
ftr-402	235	4	tax	tax	NOUN
ftr-402	235	5	competition	competition	NOUN
ftr-402	235	6	found	find	VERB
ftr-402	235	7	in	in	ADP
ftr-402	235	8	table	table	NOUN
ftr-402	235	9	2a	2a	NUM
ftr-402	235	10	which	which	PRON
ftr-402	235	11	examines	examine	VERB
ftr-402	235	12	the	the	DET
ftr-402	235	13	period	period	NOUN
ftr-402	235	14	from	from	ADP
ftr-402	235	15	1992	1992	NUM
ftr-402	235	16	to	to	ADP
ftr-402	235	17	1998	1998	NUM
ftr-402	235	18	is	be	AUX
ftr-402	235	19	no	no	ADV
ftr-402	235	20	longer	long	ADV
ftr-402	235	21	evident	evident	ADJ
ftr-402	235	22	.	.	PUNCT
ftr-402	236	1	in	in	ADP
ftr-402	236	2	columns	column	NOUN
ftr-402	236	3	3	3	NUM
ftr-402	236	4	and	and	CCONJ
ftr-402	236	5	4	4	NUM
ftr-402	236	6	we	we	PRON
ftr-402	236	7	substitute	substitute	VERB
ftr-402	236	8	the	the	DET
ftr-402	236	9	statutory	statutory	ADJ
ftr-402	236	10	rate	rate	NOUN
ftr-402	236	11	in	in	ADP
ftr-402	236	12	1998	1998	NUM
ftr-402	236	13	for	for	ADP
ftr-402	236	14	the	the	DET
ftr-402	236	15	aetr	aetr	NOUN
ftr-402	236	16	in	in	ADP
ftr-402	236	17	1996	1996	NUM
ftr-402	236	18	.	.	PUNCT
ftr-402	237	1	this	this	DET
ftr-402	237	2	exercise	exercise	NOUN
ftr-402	237	3	provides	provide	VERB
ftr-402	237	4	some	some	DET
ftr-402	237	5	suggestive	suggestive	ADJ
ftr-402	237	6	evidence	evidence	NOUN
ftr-402	237	7	that	that	SCONJ
ftr-402	237	8	company	company	NOUN
ftr-402	237	9	rather	rather	ADV
ftr-402	237	10	than	than	ADP
ftr-402	237	11	country	country	NOUN
ftr-402	237	12	behavior	behavior	NOUN
ftr-402	237	13	may	may	AUX
ftr-402	237	14	be	be	AUX
ftr-402	237	15	responsible	responsible	ADJ
ftr-402	237	16	for	for	ADP
ftr-402	237	17	the	the	DET
ftr-402	237	18	decrease	decrease	NOUN
ftr-402	237	19	in	in	ADP
ftr-402	237	20	effective	effective	ADJ
ftr-402	237	21	rates	rate	NOUN
ftr-402	237	22	between	between	ADP
ftr-402	237	23	1998	1998	NUM
ftr-402	237	24	and	and	CCONJ
ftr-402	237	25	2000	2000	NUM
ftr-402	237	26	.	.	PUNCT
ftr-402	238	1	the	the	DET
ftr-402	238	2	estimated	estimate	VERB
ftr-402	238	3	coefficient	coefficient	NOUN
ftr-402	238	4	on	on	ADP
ftr-402	238	5	the	the	DET
ftr-402	238	6	statutory	statutory	ADJ
ftr-402	238	7	rate	rate	NOUN
ftr-402	238	8	is	be	AUX
ftr-402	238	9	positive	positive	ADJ
ftr-402	238	10	and	and	CCONJ
ftr-402	238	11	significant	significant	ADJ
ftr-402	238	12	at	at	ADP
ftr-402	238	13	the	the	DET
ftr-402	238	14	10	10	NUM
ftr-402	238	15	%	%	NOUN
ftr-402	238	16	confidence	confidence	NOUN
ftr-402	238	17	level	level	NOUN
ftr-402	238	18	.	.	PUNCT
ftr-402	239	1	however	however	ADV
ftr-402	239	2	,	,	PUNCT
ftr-402	239	3	when	when	SCONJ
ftr-402	239	4	we	we	PRON
ftr-402	239	5	add	add	VERB
ftr-402	239	6	regional	regional	ADJ
ftr-402	239	7	dummies	dummy	NOUN
ftr-402	239	8	to	to	ADP
ftr-402	239	9	this	this	DET
ftr-402	239	10	regression	regression	NOUN
ftr-402	239	11	(	(	PUNCT
ftr-402	239	12	in	in	ADP
ftr-402	239	13	column	column	NOUN
ftr-402	239	14	4	4	NUM
ftr-402	239	15	)	)	PUNCT
ftr-402	239	16	the	the	DET
ftr-402	239	17	magnitude	magnitude	NOUN
ftr-402	239	18	of	of	ADP
ftr-402	239	19	the	the	DET
ftr-402	239	20	coefficient	coefficient	NOUN
ftr-402	239	21	decreases	decrease	VERB
ftr-402	239	22	and	and	CCONJ
ftr-402	239	23	the	the	DET
ftr-402	239	24	standard	standard	ADJ
ftr-402	239	25	error	error	NOUN
ftr-402	239	26	increases	increase	NOUN
ftr-402	239	27	.	.	PUNCT
ftr-402	240	1	2005	2005	NUM
ftr-402	240	2	]	]	PUNCT
ftr-402	240	3	the	the	DET
ftr-402	240	4	three	three	NUM
ftr-402	240	5	parties	party	NOUN
ftr-402	240	6	in	in	ADP
ftr-402	240	7	the	the	DET
ftr-402	240	8	race	race	NOUN
ftr-402	240	9	to	to	ADP
ftr-402	240	10	the	the	DET
ftr-402	240	11	bottom	bottom	NOUN
ftr-402	240	12	163	163	NUM
ftr-402	240	13	3	3	NUM
ftr-402	240	14	.	.	PUNCT
ftr-402	241	1	the	the	DET
ftr-402	241	2	subsidiary	subsidiary	ADJ
ftr-402	241	3	level	level	NOUN
ftr-402	241	4	regressions	regression	NOUN
ftr-402	241	5	include	include	VERB
ftr-402	241	6	observations	observation	NOUN
ftr-402	241	7	in	in	ADP
ftr-402	241	8	bermuda	bermuda	PROPN
ftr-402	241	9	and	and	CCONJ
ftr-402	241	10	the	the	DET
ftr-402	241	11	cayman	cayman	NOUN
ftr-402	241	12	islands	island	VERB
ftr-402	241	13	in	in	ADP
ftr-402	241	14	addition	addition	NOUN
ftr-402	241	15	to	to	ADP
ftr-402	241	16	the	the	DET
ftr-402	241	17	58	58	NUM
ftr-402	241	18	listed	list	VERB
ftr-402	241	19	in	in	ADP
ftr-402	241	20	the	the	DET
ftr-402	241	21	appendix	appendix	NOUN
ftr-402	241	22	.	.	PUNCT
ftr-402	242	1	4	4	X
ftr-402	242	2	.	.	X
ftr-402	242	3	one	one	NUM
ftr-402	242	4	possible	possible	ADJ
ftr-402	242	5	explanation	explanation	NOUN
ftr-402	242	6	for	for	ADP
ftr-402	242	7	the	the	DET
ftr-402	242	8	low	low	ADJ
ftr-402	242	9	statutory	statutory	ADJ
ftr-402	242	10	tax	tax	NOUN
ftr-402	242	11	rate	rate	NOUN
ftr-402	242	12	coefficient	coefficient	NOUN
ftr-402	242	13	might	might	AUX
ftr-402	242	14	simply	simply	ADV
ftr-402	242	15	be	be	AUX
ftr-402	242	16	that	that	SCONJ
ftr-402	242	17	cfc	cfc	VERB
ftr-402	242	18	effective	effective	ADJ
ftr-402	242	19	rates	rate	NOUN
ftr-402	242	20	on	on	ADP
ftr-402	242	21	average	average	ADJ
ftr-402	242	22	fell	fall	VERB
ftr-402	242	23	relative	relative	ADJ
ftr-402	242	24	to	to	ADP
ftr-402	242	25	statutory	statutory	ADJ
ftr-402	242	26	rates	rate	NOUN
ftr-402	242	27	.	.	PUNCT
ftr-402	243	1	but	but	CCONJ
ftr-402	243	2	,	,	PUNCT
ftr-402	243	3	in	in	ADP
ftr-402	243	4	fact	fact	NOUN
ftr-402	243	5	,	,	PUNCT
ftr-402	243	6	that	that	PRON
ftr-402	243	7	is	be	AUX
ftr-402	243	8	not	not	PART
ftr-402	243	9	true	true	ADJ
ftr-402	243	10	in	in	ADP
ftr-402	243	11	comparing	compare	VERB
ftr-402	243	12	the	the	DET
ftr-402	243	13	1996	1996	NUM
ftr-402	243	14	and	and	CCONJ
ftr-402	243	15	2000	2000	NUM
ftr-402	243	16	samples	sample	NOUN
ftr-402	243	17	.	.	PUNCT
ftr-402	244	1	the	the	DET
ftr-402	244	2	sample	sample	NOUN
ftr-402	244	3	average	average	ADJ
ftr-402	244	4	effective	effective	ADJ
ftr-402	244	5	rate	rate	NOUN
ftr-402	244	6	dropped	drop	VERB
ftr-402	244	7	from	from	ADP
ftr-402	244	8	23.5	23.5	NUM
ftr-402	244	9	%	%	NOUN
ftr-402	244	10	to	to	ADP
ftr-402	244	11	21.5	21.5	NUM
ftr-402	244	12	%	%	NOUN
ftr-402	244	13	while	while	SCONJ
ftr-402	244	14	the	the	DET
ftr-402	244	15	sample	sample	NOUN
ftr-402	244	16	statutory	statutory	ADJ
ftr-402	244	17	rate	rate	NOUN
ftr-402	244	18	fell	fall	VERB
ftr-402	244	19	proportionately	proportionately	ADV
ftr-402	244	20	more	more	ADV
ftr-402	244	21	,	,	PUNCT
ftr-402	244	22	from	from	ADP
ftr-402	244	23	35.4	35.4	NUM
ftr-402	244	24	%	%	NOUN
ftr-402	244	25	to	to	ADP
ftr-402	244	26	31.8	31.8	NUM
ftr-402	244	27	%	%	NOUN
ftr-402	244	28	.	.	PUNCT
ftr-402	245	1	the	the	DET
ftr-402	245	2	final	final	ADJ
ftr-402	245	3	column	column	NOUN
ftr-402	245	4	of	of	ADP
ftr-402	245	5	table	table	NOUN
ftr-402	245	6	3	3	NUM
ftr-402	245	7	shows	show	VERB
ftr-402	245	8	the	the	DET
ftr-402	245	9	results	result	NOUN
ftr-402	245	10	of	of	ADP
ftr-402	245	11	the	the	DET
ftr-402	245	12	test	test	NOUN
ftr-402	245	13	of	of	ADP
ftr-402	245	14	the	the	DET
ftr-402	245	15	tax	tax	NOUN
ftr-402	245	16	competition	competition	NOUN
ftr-402	245	17	story	story	NOUN
ftr-402	245	18	we	we	PRON
ftr-402	245	19	explored	explore	VERB
ftr-402	245	20	in	in	ADP
ftr-402	245	21	tables	table	NOUN
ftr-402	245	22	2a	2a	NUM
ftr-402	245	23	and	and	CCONJ
ftr-402	245	24	2b	2b	NOUN
ftr-402	245	25	.	.	PUNCT
ftr-402	246	1	not	not	PART
ftr-402	246	2	surprisingly	surprisingly	ADV
ftr-402	246	3	given	give	VERB
ftr-402	246	4	the	the	DET
ftr-402	246	5	results	result	NOUN
ftr-402	246	6	in	in	ADP
ftr-402	246	7	the	the	DET
ftr-402	246	8	last	last	ADJ
ftr-402	246	9	column	column	NOUN
ftr-402	246	10	of	of	ADP
ftr-402	246	11	table	table	NOUN
ftr-402	246	12	2b	2b	NOUN
ftr-402	246	13	,	,	PUNCT
ftr-402	246	14	the	the	DET
ftr-402	246	15	change	change	NOUN
ftr-402	246	16	in	in	ADP
ftr-402	246	17	capital	capital	NOUN
ftr-402	246	18	share	share	NOUN
ftr-402	246	19	variable	variable	NOUN
ftr-402	246	20	is	be	AUX
ftr-402	246	21	not	not	PART
ftr-402	246	22	significantly	significantly	ADV
ftr-402	246	23	different	different	ADJ
ftr-402	246	24	from	from	ADP
ftr-402	246	25	zero	zero	NUM
ftr-402	246	26	.	.	PUNCT
ftr-402	247	1	although	although	SCONJ
ftr-402	247	2	only	only	ADV
ftr-402	247	3	suggestive	suggestive	ADJ
ftr-402	247	4	,	,	PUNCT
ftr-402	247	5	our	our	PRON
ftr-402	247	6	results	result	NOUN
ftr-402	247	7	point	point	VERB
ftr-402	247	8	to	to	ADP
ftr-402	247	9	company	company	NOUN
ftr-402	247	10	behavior	behavior	NOUN
ftr-402	247	11	and	and	CCONJ
ftr-402	247	12	not	not	PART
ftr-402	247	13	tax	tax	NOUN
ftr-402	247	14	competition	competition	NOUN
ftr-402	247	15	explaining	explain	VERB
ftr-402	247	16	changes	change	NOUN
ftr-402	247	17	in	in	ADP
ftr-402	247	18	effective	effective	ADJ
ftr-402	247	19	tax	tax	NOUN
ftr-402	247	20	rates	rate	NOUN
ftr-402	247	21	in	in	ADP
ftr-402	247	22	the	the	DET
ftr-402	247	23	most	most	ADV
ftr-402	247	24	current	current	ADJ
ftr-402	247	25	data	datum	NOUN
ftr-402	247	26	.	.	PUNCT
ftr-402	248	1	v.	v.	ADP
ftr-402	248	2	tax	tax	NOUN
ftr-402	248	3	planning	planning	NOUN
ftr-402	248	4	and	and	CCONJ
ftr-402	248	5	changes	change	NOUN
ftr-402	248	6	in	in	ADP
ftr-402	248	7	firm	firm	ADJ
ftr-402	248	8	level	level	NOUN
ftr-402	248	9	effective	effective	ADJ
ftr-402	248	10	tax	tax	NOUN
ftr-402	248	11	rates	rate	NOUN
ftr-402	248	12	the	the	DET
ftr-402	248	13	subsidiary	subsidiary	ADJ
ftr-402	248	14	level	level	NOUN
ftr-402	248	15	data	datum	NOUN
ftr-402	248	16	from	from	ADP
ftr-402	248	17	form	form	NOUN
ftr-402	248	18	5471	5471	NUM
ftr-402	248	19	may	may	AUX
ftr-402	248	20	be	be	AUX
ftr-402	248	21	used	use	VERB
ftr-402	248	22	to	to	PART
ftr-402	248	23	shed	shed	VERB
ftr-402	248	24	more	more	ADJ
ftr-402	248	25	light	light	NOUN
ftr-402	248	26	on	on	ADP
ftr-402	248	27	the	the	DET
ftr-402	248	28	question	question	NOUN
ftr-402	248	29	of	of	ADP
ftr-402	248	30	whether	whether	SCONJ
ftr-402	248	31	company	company	NOUN
ftr-402	248	32	tax	tax	NOUN
ftr-402	248	33	planning	planning	NOUN
ftr-402	248	34	behavior	behavior	NOUN
ftr-402	248	35	made	make	VERB
ftr-402	248	36	possible	possible	ADJ
ftr-402	248	37	by	by	ADP
ftr-402	248	38	the	the	DET
ftr-402	248	39	recent	recent	ADJ
ftr-402	248	40	changes	change	NOUN
ftr-402	248	41	in	in	ADP
ftr-402	248	42	the	the	DET
ftr-402	248	43	tax	tax	NOUN
ftr-402	248	44	rules	rule	NOUN
ftr-402	248	45	explains	explain	VERB
ftr-402	248	46	the	the	DET
ftr-402	248	47	latest	late	ADJ
ftr-402	248	48	reductions	reduction	NOUN
ftr-402	248	49	in	in	ADP
ftr-402	248	50	effective	effective	ADJ
ftr-402	248	51	tax	tax	NOUN
ftr-402	248	52	rates	rate	NOUN
ftr-402	248	53	.	.	PUNCT
ftr-402	249	1	we	we	PRON
ftr-402	249	2	can	can	AUX
ftr-402	249	3	not	not	PART
ftr-402	249	4	directly	directly	ADV
ftr-402	249	5	observe	observe	VERB
ftr-402	249	6	the	the	DET
ftr-402	249	7	extent	extent	NOUN
ftr-402	249	8	to	to	PART
ftr-402	249	9	which	which	PRON
ftr-402	249	10	tax	tax	NOUN
ftr-402	249	11	planning	planning	NOUN
ftr-402	249	12	has	have	AUX
ftr-402	249	13	lowered	lower	VERB
ftr-402	249	14	cfc	cfc	NOUN
ftr-402	249	15	effective	effective	ADJ
ftr-402	249	16	tax	tax	NOUN
ftr-402	249	17	rates	rate	NOUN
ftr-402	249	18	.	.	PUNCT
ftr-402	250	1	however	however	ADV
ftr-402	250	2	,	,	PUNCT
ftr-402	250	3	we	we	PRON
ftr-402	250	4	can	can	AUX
ftr-402	250	5	determine	determine	VERB
ftr-402	250	6	whether	whether	SCONJ
ftr-402	250	7	factors	factor	NOUN
ftr-402	250	8	explaining	explain	VERB
ftr-402	250	9	the	the	DET
ftr-402	250	10	variation	variation	NOUN
ftr-402	250	11	in	in	ADP
ftr-402	250	12	company	company	NOUN
ftr-402	250	13	effective	effective	ADJ
ftr-402	250	14	tax	tax	NOUN
ftr-402	250	15	rates	rate	NOUN
ftr-402	250	16	have	have	AUX
ftr-402	250	17	changed	change	VERB
ftr-402	250	18	in	in	ADP
ftr-402	250	19	recent	recent	ADJ
ftr-402	250	20	years	year	NOUN
ftr-402	250	21	.	.	PUNCT
ftr-402	251	1	for	for	ADP
ftr-402	251	2	instance	instance	NOUN
ftr-402	251	3	,	,	PUNCT
ftr-402	251	4	one	one	PRON
ftr-402	251	5	would	would	AUX
ftr-402	251	6	expect	expect	VERB
ftr-402	251	7	statutory	statutory	ADJ
ftr-402	251	8	tax	tax	NOUN
ftr-402	251	9	rates	rate	NOUN
ftr-402	251	10	and	and	CCONJ
ftr-402	251	11	effective	effective	ADJ
ftr-402	251	12	tax	tax	NOUN
ftr-402	251	13	rates	rate	NOUN
ftr-402	251	14	to	to	PART
ftr-402	251	15	be	be	AUX
ftr-402	251	16	highly	highly	ADV
ftr-402	251	17	correlated	correlate	VERB
ftr-402	251	18	.	.	PUNCT
ftr-402	252	1	but	but	CCONJ
ftr-402	252	2	check	check	VERB
ftr-402	252	3	-	-	PUNCT
ftr-402	252	4	the	the	DET
ftr-402	252	5	-	-	PUNCT
ftr-402	252	6	box	box	NOUN
ftr-402	252	7	and	and	CCONJ
ftr-402	252	8	the	the	DET
ftr-402	252	9	opportunity	opportunity	NOUN
ftr-402	252	10	to	to	PART
ftr-402	252	11	use	use	VERB
ftr-402	252	12	hybrid	hybrid	ADJ
ftr-402	252	13	securities	security	NOUN
ftr-402	252	14	to	to	PART
ftr-402	252	15	strip	strip	VERB
ftr-402	252	16	income	income	NOUN
ftr-402	252	17	out	out	ADP
ftr-402	252	18	of	of	ADP
ftr-402	252	19	high	high	ADJ
ftr-402	252	20	-	-	PUNCT
ftr-402	252	21	tax	tax	NOUN
ftr-402	252	22	countries	country	NOUN
ftr-402	252	23	may	may	AUX
ftr-402	252	24	weaken	weaken	VERB
ftr-402	252	25	this	this	DET
ftr-402	252	26	relationship	relationship	NOUN
ftr-402	252	27	.	.	PUNCT
ftr-402	253	1	the	the	DET
ftr-402	253	2	regressions	regression	NOUN
ftr-402	253	3	shown	show	VERB
ftr-402	253	4	in	in	ADP
ftr-402	253	5	table	table	NOUN
ftr-402	253	6	4	4	NUM
ftr-402	253	7	explore	explore	VERB
ftr-402	253	8	whether	whether	SCONJ
ftr-402	253	9	determinants	determinant	NOUN
ftr-402	253	10	of	of	ADP
ftr-402	253	11	cfc	cfc	PROPN
ftr-402	253	12	effective	effective	ADJ
ftr-402	253	13	tax	tax	NOUN
ftr-402	253	14	rates	rate	NOUN
ftr-402	253	15	such	such	ADJ
ftr-402	253	16	as	as	ADP
ftr-402	253	17	statutory	statutory	ADJ
ftr-402	253	18	rates	rate	NOUN
ftr-402	253	19	have	have	AUX
ftr-402	253	20	changed	change	VERB
ftr-402	253	21	in	in	ADP
ftr-402	253	22	a	a	DET
ftr-402	253	23	way	way	NOUN
ftr-402	253	24	that	that	PRON
ftr-402	253	25	is	be	AUX
ftr-402	253	26	consistent	consistent	ADJ
ftr-402	253	27	with	with	ADP
ftr-402	253	28	the	the	DET
ftr-402	253	29	use	use	NOUN
ftr-402	253	30	of	of	ADP
ftr-402	253	31	tax	tax	NOUN
ftr-402	253	32	planning	planning	NOUN
ftr-402	253	33	techniques	technique	NOUN
ftr-402	253	34	.	.	PUNCT
ftr-402	254	1	the	the	DET
ftr-402	254	2	empirical	empirical	ADJ
ftr-402	254	3	work	work	NOUN
ftr-402	254	4	uses	use	VERB
ftr-402	254	5	the3	the3	NOUN
ftr-402	254	6	1996	1996	NUM
ftr-402	254	7	and	and	CCONJ
ftr-402	254	8	2000	2000	NUM
ftr-402	254	9	cfc	cfc	NOUN
ftr-402	254	10	-	-	PUNCT
ftr-402	254	11	level	level	NOUN
ftr-402	254	12	form	form	NOUN
ftr-402	254	13	5471	5471	NUM
ftr-402	254	14	data	datum	NOUN
ftr-402	254	15	matched	match	VERB
ftr-402	254	16	to	to	ADP
ftr-402	254	17	parent	parent	NOUN
ftr-402	254	18	data	datum	NOUN
ftr-402	254	19	from	from	ADP
ftr-402	254	20	the	the	DET
ftr-402	254	21	treasury	treasury	PROPN
ftr-402	254	22	tax	tax	NOUN
ftr-402	254	23	return	return	NOUN
ftr-402	254	24	files	file	NOUN
ftr-402	254	25	.	.	PUNCT
ftr-402	255	1	as	as	ADP
ftr-402	255	2	in	in	ADP
ftr-402	255	3	our	our	PRON
ftr-402	255	4	previous	previous	ADJ
ftr-402	255	5	work	work	NOUN
ftr-402	255	6	,	,	PUNCT
ftr-402	255	7	we	we	PRON
ftr-402	255	8	include	include	VERB
ftr-402	255	9	only	only	ADV
ftr-402	255	10	manufacturing	manufacture	VERB
ftr-402	255	11	cfcs	cfc	NOUN
ftr-402	255	12	of	of	ADP
ftr-402	255	13	u.s	u.s	PROPN
ftr-402	255	14	.	.	PROPN
ftr-402	255	15	manufacturing	manufacturing	NOUN
ftr-402	255	16	parents	parent	NOUN
ftr-402	255	17	.	.	PUNCT
ftr-402	256	1	the	the	DET
ftr-402	256	2	dependent	dependent	ADJ
ftr-402	256	3	variable	variable	NOUN
ftr-402	256	4	in	in	ADP
ftr-402	256	5	the	the	DET
ftr-402	256	6	table	table	NOUN
ftr-402	256	7	4	4	NUM
ftr-402	256	8	regressions	regression	NOUN
ftr-402	256	9	is	be	AUX
ftr-402	256	10	the	the	DET
ftr-402	256	11	cfc	cfc	PROPN
ftr-402	256	12	effective	effective	ADJ
ftr-402	256	13	tax	tax	NOUN
ftr-402	256	14	rate	rate	NOUN
ftr-402	256	15	.	.	PUNCT
ftr-402	257	1	independent	independent	ADJ
ftr-402	257	2	variables	variable	NOUN
ftr-402	257	3	include	include	VERB
ftr-402	257	4	the	the	DET
ftr-402	257	5	country	country	NOUN
ftr-402	257	6	statutory	statutory	ADJ
ftr-402	257	7	rate	rate	NOUN
ftr-402	257	8	and	and	CCONJ
ftr-402	257	9	both	both	PRON
ftr-402	257	10	parent	parent	NOUN
ftr-402	257	11	and	and	CCONJ
ftr-402	257	12	subsidiary	subsidiary	ADJ
ftr-402	257	13	specific	specific	ADJ
ftr-402	257	14	information	information	NOUN
ftr-402	257	15	.	.	PUNCT
ftr-402	258	1	note	note	VERB
ftr-402	258	2	that	that	SCONJ
ftr-402	258	3	in	in	ADP
ftr-402	258	4	table	table	NOUN
ftr-402	258	5	4	4	NUM
ftr-402	258	6	we	we	PRON
ftr-402	258	7	show	show	VERB
ftr-402	258	8	the	the	DET
ftr-402	258	9	results	result	NOUN
ftr-402	258	10	of	of	ADP
ftr-402	258	11	regressions	regression	NOUN
ftr-402	258	12	in	in	ADP
ftr-402	258	13	which	which	PRON
ftr-402	258	14	the	the	DET
ftr-402	258	15	cfc	cfc	PROPN
ftr-402	258	16	observations	observation	NOUN
ftr-402	258	17	are	be	AUX
ftr-402	258	18	unweighted	unweighte	VERB
ftr-402	258	19	and	and	CCONJ
ftr-402	258	20	also	also	ADV
ftr-402	258	21	those	those	PRON
ftr-402	258	22	weighted	weight	VERB
ftr-402	258	23	by	by	ADP
ftr-402	258	24	sales	sale	NOUN
ftr-402	258	25	to	to	PART
ftr-402	258	26	correct	correct	VERB
ftr-402	258	27	for	for	ADP
ftr-402	258	28	heteroskedasticity	heteroskedasticity	NOUN
ftr-402	258	29	.	.	PUNCT
ftr-402	259	1	as	as	SCONJ
ftr-402	259	2	mentioned	mention	VERB
ftr-402	259	3	above	above	ADV
ftr-402	259	4	,	,	PUNCT
ftr-402	259	5	if	if	SCONJ
ftr-402	259	6	companies	company	NOUN
ftr-402	259	7	have	have	AUX
ftr-402	259	8	increasingly	increasingly	ADV
ftr-402	259	9	used	use	VERB
ftr-402	259	10	hybrids	hybrid	NOUN
ftr-402	259	11	,	,	PUNCT
ftr-402	259	12	we	we	PRON
ftr-402	259	13	would	would	AUX
ftr-402	259	14	expect	expect	VERB
ftr-402	259	15	the	the	DET
ftr-402	259	16	significance	significance	NOUN
ftr-402	259	17	of	of	ADP
ftr-402	259	18	the	the	DET
ftr-402	259	19	statutory	statutory	ADJ
ftr-402	259	20	rate	rate	NOUN
ftr-402	259	21	in	in	ADP
ftr-402	259	22	explaining	explain	VERB
ftr-402	259	23	effective	effective	ADJ
ftr-402	259	24	tax	tax	NOUN
ftr-402	259	25	rates	rate	NOUN
ftr-402	259	26	to	to	PART
ftr-402	259	27	decrease	decrease	VERB
ftr-402	259	28	,	,	PUNCT
ftr-402	259	29	since	since	SCONJ
ftr-402	259	30	some	some	PRON
ftr-402	259	31	are	be	AUX
ftr-402	259	32	presumably	presumably	ADV
ftr-402	259	33	in	in	ADP
ftr-402	259	34	position	position	NOUN
ftr-402	259	35	to	to	PART
ftr-402	259	36	take	take	VERB
ftr-402	259	37	advantage	advantage	NOUN
ftr-402	259	38	of	of	ADP
ftr-402	259	39	the	the	DET
ftr-402	259	40	new	new	ADJ
ftr-402	259	41	planning	planning	NOUN
ftr-402	259	42	structures	structure	NOUN
ftr-402	259	43	while	while	SCONJ
ftr-402	259	44	others	other	NOUN
ftr-402	259	45	are	be	AUX
ftr-402	259	46	not	not	PART
ftr-402	259	47	due	due	ADJ
ftr-402	259	48	to	to	ADP
ftr-402	259	49	host	host	NOUN
ftr-402	259	50	country	country	NOUN
ftr-402	259	51	provisions	provision	NOUN
ftr-402	259	52	or	or	CCONJ
ftr-402	259	53	particular	particular	ADJ
ftr-402	259	54	company	company	NOUN
ftr-402	259	55	circumstances	circumstance	NOUN
ftr-402	259	56	.	.	PUNCT
ftr-402	260	1	this	this	PRON
ftr-402	260	2	is	be	AUX
ftr-402	260	3	born	bear	VERB
ftr-402	260	4	out	out	ADP
ftr-402	260	5	by	by	ADP
ftr-402	260	6	the	the	DET
ftr-402	260	7	regression	regression	NOUN
ftr-402	260	8	results	result	NOUN
ftr-402	260	9	.	.	PUNCT
ftr-402	261	1	the	the	DET
ftr-402	261	2	coefficient	coefficient	NOUN
ftr-402	261	3	on	on	ADP
ftr-402	261	4	the	the	DET
ftr-402	261	5	statutory	statutory	ADJ
ftr-402	261	6	rate	rate	NOUN
ftr-402	261	7	is	be	AUX
ftr-402	261	8	smaller	small	ADJ
ftr-402	261	9	and	and	CCONJ
ftr-402	261	10	much	much	ADV
ftr-402	261	11	less	less	ADV
ftr-402	261	12	statistically	statistically	ADV
ftr-402	261	13	significant	significant	ADJ
ftr-402	261	14	in	in	ADP
ftr-402	261	15	the	the	DET
ftr-402	261	16	2000	2000	NUM
ftr-402	261	17	regressions	regression	NOUN
ftr-402	261	18	than	than	ADP
ftr-402	261	19	in	in	ADP
ftr-402	261	20	the	the	DET
ftr-402	261	21	1996	1996	NUM
ftr-402	261	22	regressions	regression	NOUN
ftr-402	261	23	.	.	PUNCT
ftr-402	262	1	the	the	DET
ftr-402	262	2	t	t	PROPN
ftr-402	262	3	-	-	PUNCT
ftr-402	262	4	statistics4	statistics4	NOUN
ftr-402	262	5	in	in	ADP
ftr-402	262	6	the	the	DET
ftr-402	262	7	unweighted	unweighted	ADJ
ftr-402	262	8	(	(	PUNCT
ftr-402	262	9	weighted	weighted	ADJ
ftr-402	262	10	)	)	PUNCT
ftr-402	262	11	regression	regression	NOUN
ftr-402	262	12	falls	fall	VERB
ftr-402	262	13	from	from	ADP
ftr-402	262	14	13.7	13.7	NUM
ftr-402	262	15	(	(	PUNCT
ftr-402	262	16	21.1	21.1	NUM
ftr-402	262	17	)	)	PUNCT
ftr-402	262	18	to	to	ADP
ftr-402	262	19	7.7	7.7	NUM
ftr-402	262	20	(	(	PUNCT
ftr-402	262	21	10.2	10.2	NUM
ftr-402	262	22	)	)	PUNCT
ftr-402	262	23	.	.	PUNCT
ftr-402	263	1	the	the	DET
ftr-402	263	2	164	164	NUM
ftr-402	263	3	florida	florida	PROPN
ftr-402	263	4	tax	tax	NOUN
ftr-402	263	5	review	review	NOUN
ftr-402	264	1	[	[	X
ftr-402	264	2	vol.7:3	vol.7:3	NOUN
ftr-402	264	3	5	5	NUM
ftr-402	264	4	.	.	PUNCT
ftr-402	265	1	another	another	DET
ftr-402	265	2	piece	piece	NOUN
ftr-402	265	3	of	of	ADP
ftr-402	265	4	evidence	evidence	NOUN
ftr-402	265	5	consistent	consistent	ADJ
ftr-402	265	6	with	with	ADP
ftr-402	265	7	an	an	DET
ftr-402	265	8	increase	increase	NOUN
ftr-402	265	9	in	in	ADP
ftr-402	265	10	hybrids	hybrid	NOUN
ftr-402	265	11	is	be	AUX
ftr-402	265	12	that	that	SCONJ
ftr-402	265	13	there	there	PRON
ftr-402	265	14	are	be	VERB
ftr-402	265	15	less	less	ADV
ftr-402	265	16	cfcs	cfc	VERB
ftr-402	265	17	in	in	ADP
ftr-402	265	18	the	the	DET
ftr-402	265	19	2000	2000	NUM
ftr-402	265	20	sample	sample	NOUN
ftr-402	265	21	than	than	ADP
ftr-402	265	22	in	in	ADP
ftr-402	265	23	the	the	DET
ftr-402	265	24	1996	1996	NUM
ftr-402	265	25	.	.	PUNCT
ftr-402	266	1	there	there	PRON
ftr-402	266	2	were	be	VERB
ftr-402	266	3	about	about	ADV
ftr-402	266	4	600	600	NUM
ftr-402	266	5	fewer	few	ADJ
ftr-402	266	6	manufacturing	manufacturing	NOUN
ftr-402	266	7	cfcs	cfc	NOUN
ftr-402	266	8	among	among	ADP
ftr-402	266	9	the	the	DET
ftr-402	266	10	top	top	ADJ
ftr-402	266	11	7,500	7,500	NUM
ftr-402	266	12	(	(	PUNCT
ftr-402	266	13	in	in	ADP
ftr-402	266	14	terms	term	NOUN
ftr-402	266	15	of	of	ADP
ftr-402	266	16	assets	asset	NOUN
ftr-402	266	17	or	or	CCONJ
ftr-402	266	18	sales	sale	NOUN
ftr-402	266	19	)	)	PUNCT
ftr-402	266	20	in	in	ADP
ftr-402	266	21	2000	2000	NUM
ftr-402	266	22	.	.	PUNCT
ftr-402	267	1	some	some	PRON
ftr-402	267	2	of	of	ADP
ftr-402	267	3	the	the	DET
ftr-402	267	4	highly	highly	ADV
ftr-402	267	5	profitable	profitable	ADJ
ftr-402	267	6	cfcs	cfc	NOUN
ftr-402	267	7	in	in	ADP
ftr-402	267	8	high	high	ADJ
ftr-402	267	9	-	-	PUNCT
ftr-402	267	10	tax	tax	NOUN
ftr-402	267	11	locations	location	NOUN
ftr-402	267	12	may	may	AUX
ftr-402	267	13	now	now	ADV
ftr-402	267	14	be	be	AUX
ftr-402	267	15	consolidated	consolidate	VERB
ftr-402	267	16	with	with	ADP
ftr-402	267	17	another	another	DET
ftr-402	267	18	manufacturing	manufacture	VERB
ftr-402	267	19	cfc	cfc	NOUN
ftr-402	267	20	using	use	VERB
ftr-402	267	21	a	a	DET
ftr-402	267	22	hybrid	hybrid	NOUN
ftr-402	267	23	,	,	PUNCT
ftr-402	267	24	or	or	CCONJ
ftr-402	267	25	the	the	DET
ftr-402	267	26	surviving	survive	VERB
ftr-402	267	27	consolidated	consolidated	ADJ
ftr-402	267	28	entity	entity	NOUN
ftr-402	267	29	may	may	AUX
ftr-402	267	30	now	now	ADV
ftr-402	267	31	be	be	AUX
ftr-402	267	32	classified	classify	VERB
ftr-402	267	33	in	in	ADP
ftr-402	267	34	some	some	DET
ftr-402	267	35	nonmanufacturing	nonmanufacturing	ADJ
ftr-402	267	36	industry	industry	NOUN
ftr-402	267	37	.	.	PUNCT
ftr-402	268	1	another	another	DET
ftr-402	268	2	possibility	possibility	NOUN
ftr-402	268	3	is	be	AUX
ftr-402	268	4	the	the	DET
ftr-402	268	5	change	change	NOUN
ftr-402	268	6	to	to	ADP
ftr-402	268	7	the	the	DET
ftr-402	268	8	system	system	NOUN
ftr-402	268	9	of	of	ADP
ftr-402	268	10	classification	classification	NOUN
ftr-402	268	11	(	(	PUNCT
ftr-402	268	12	naics	naic	NOUN
ftr-402	268	13	)	)	PUNCT
ftr-402	268	14	that	that	PRON
ftr-402	268	15	may	may	AUX
ftr-402	268	16	have	have	AUX
ftr-402	268	17	resulted	result	VERB
ftr-402	268	18	in	in	ADP
ftr-402	268	19	some	some	DET
ftr-402	268	20	companies	company	NOUN
ftr-402	268	21	formerly	formerly	ADV
ftr-402	268	22	in	in	ADP
ftr-402	268	23	manufacturing	manufacturing	NOUN
ftr-402	268	24	ending	end	VERB
ftr-402	268	25	up	up	ADP
ftr-402	268	26	in	in	ADP
ftr-402	268	27	other	other	ADJ
ftr-402	268	28	classifications	classification	NOUN
ftr-402	268	29	such	such	ADJ
ftr-402	268	30	as	as	ADP
ftr-402	268	31	software	software	NOUN
ftr-402	268	32	.	.	PUNCT
ftr-402	269	1	as	as	SCONJ
ftr-402	269	2	we	we	PRON
ftr-402	269	3	will	will	AUX
ftr-402	269	4	see	see	VERB
ftr-402	269	5	below	below	ADV
ftr-402	269	6	,	,	PUNCT
ftr-402	269	7	the	the	DET
ftr-402	269	8	total	total	ADJ
ftr-402	269	9	number	number	NOUN
ftr-402	269	10	of	of	ADP
ftr-402	269	11	manufacturing	manufacturing	NOUN
ftr-402	269	12	cfcs	cfc	NOUN
ftr-402	269	13	did	do	AUX
ftr-402	269	14	grow	grow	VERB
ftr-402	269	15	from	from	ADP
ftr-402	269	16	1996	1996	NUM
ftr-402	269	17	to	to	ADP
ftr-402	269	18	2000	2000	NUM
ftr-402	269	19	.	.	PUNCT
ftr-402	270	1	lower	low	ADJ
ftr-402	270	2	adjusted	adjust	VERB
ftr-402	270	3	r	r	NOUN
ftr-402	270	4	-	-	PUNCT
ftr-402	270	5	squared	square	VERB
ftr-402	270	6	in	in	ADP
ftr-402	270	7	the	the	DET
ftr-402	270	8	2000	2000	NUM
ftr-402	270	9	regression	regression	NOUN
ftr-402	270	10	is	be	AUX
ftr-402	270	11	consistent	consistent	ADJ
ftr-402	270	12	with	with	ADP
ftr-402	270	13	the	the	DET
ftr-402	270	14	weaker	weak	ADJ
ftr-402	270	15	explanatory	explanatory	ADJ
ftr-402	270	16	power	power	NOUN
ftr-402	270	17	of	of	ADP
ftr-402	270	18	the	the	DET
ftr-402	270	19	statutory	statutory	ADJ
ftr-402	270	20	rates	rate	NOUN
ftr-402	270	21	.	.	PUNCT
ftr-402	271	1	note	note	VERB
ftr-402	271	2	that	that	SCONJ
ftr-402	271	3	the	the	DET
ftr-402	271	4	constant	constant	ADJ
ftr-402	271	5	term	term	NOUN
ftr-402	271	6	in	in	ADP
ftr-402	271	7	the	the	DET
ftr-402	271	8	regressions	regression	NOUN
ftr-402	271	9	rose	rise	VERB
ftr-402	271	10	substantially	substantially	ADV
ftr-402	271	11	in	in	ADP
ftr-402	271	12	2000	2000	NUM
ftr-402	271	13	,	,	PUNCT
ftr-402	271	14	suggesting	suggest	VERB
ftr-402	271	15	that	that	SCONJ
ftr-402	271	16	at	at	ADP
ftr-402	271	17	the	the	DET
ftr-402	271	18	low	low	ADJ
ftr-402	271	19	end	end	NOUN
ftr-402	271	20	effective	effective	ADJ
ftr-402	271	21	tax	tax	NOUN
ftr-402	271	22	rates	rate	NOUN
ftr-402	271	23	were	be	AUX
ftr-402	271	24	higher	high	ADJ
ftr-402	271	25	for	for	ADP
ftr-402	271	26	any	any	DET
ftr-402	271	27	given	give	VERB
ftr-402	271	28	statutory	statutory	ADJ
ftr-402	271	29	rate	rate	NOUN
ftr-402	271	30	.	.	PUNCT
ftr-402	272	1	these	these	PRON
ftr-402	272	2	would	would	AUX
ftr-402	272	3	reflect	reflect	VERB
ftr-402	272	4	the	the	DET
ftr-402	272	5	cases	case	NOUN
ftr-402	272	6	in	in	ADP
ftr-402	272	7	which	which	PRON
ftr-402	272	8	the	the	DET
ftr-402	272	9	subsidiary	subsidiary	NOUN
ftr-402	272	10	incorporated	incorporate	VERB
ftr-402	272	11	in	in	ADP
ftr-402	272	12	a	a	DET
ftr-402	272	13	low	low	ADJ
ftr-402	272	14	-	-	PUNCT
ftr-402	272	15	tax	tax	NOUN
ftr-402	272	16	country	country	NOUN
ftr-402	272	17	is	be	AUX
ftr-402	272	18	the	the	DET
ftr-402	272	19	surviving	survive	VERB
ftr-402	272	20	entity	entity	NOUN
ftr-402	272	21	and	and	CCONJ
ftr-402	272	22	some	some	PRON
ftr-402	272	23	of	of	ADP
ftr-402	272	24	the	the	DET
ftr-402	272	25	tax	tax	NOUN
ftr-402	272	26	was	be	AUX
ftr-402	272	27	in	in	ADP
ftr-402	272	28	fact	fact	NOUN
ftr-402	272	29	paid	pay	VERB
ftr-402	272	30	to	to	ADP
ftr-402	272	31	the	the	DET
ftr-402	272	32	high	high	ADJ
ftr-402	272	33	-	-	PUNCT
ftr-402	272	34	tax	tax	NOUN
ftr-402	272	35	jurisdiction	jurisdiction	NOUN
ftr-402	272	36	.	.	PUNCT
ftr-402	273	1	the	the	DET
ftr-402	273	2	lower	low	ADJ
ftr-402	273	3	effective	effective	ADJ
ftr-402	273	4	tax	tax	NOUN
ftr-402	273	5	rate	rate	NOUN
ftr-402	273	6	at	at	ADP
ftr-402	273	7	high	high	ADJ
ftr-402	273	8	statutory	statutory	ADJ
ftr-402	273	9	tax	tax	NOUN
ftr-402	273	10	rates	rate	NOUN
ftr-402	273	11	would	would	AUX
ftr-402	273	12	reflect	reflect	VERB
ftr-402	273	13	the	the	DET
ftr-402	273	14	cases	case	NOUN
ftr-402	273	15	in	in	ADP
ftr-402	273	16	which	which	PRON
ftr-402	273	17	the	the	DET
ftr-402	273	18	consolidated	consolidated	ADJ
ftr-402	273	19	operation	operation	NOUN
ftr-402	273	20	is	be	AUX
ftr-402	273	21	still	still	ADV
ftr-402	273	22	incorporated	incorporate	VERB
ftr-402	273	23	in	in	ADP
ftr-402	273	24	the	the	DET
ftr-402	273	25	high	high	ADJ
ftr-402	273	26	-	-	PUNCT
ftr-402	273	27	tax	tax	NOUN
ftr-402	273	28	location	location	NOUN
ftr-402	273	29	but	but	CCONJ
ftr-402	273	30	some	some	PRON
ftr-402	273	31	of	of	ADP
ftr-402	273	32	the	the	DET
ftr-402	273	33	income	income	NOUN
ftr-402	273	34	has	have	AUX
ftr-402	273	35	not	not	PART
ftr-402	273	36	been	be	AUX
ftr-402	273	37	subject	subject	ADJ
ftr-402	273	38	to	to	ADP
ftr-402	273	39	tax	tax	NOUN
ftr-402	273	40	there	there	ADV
ftr-402	273	41	.	.	PUNCT
ftr-402	274	1	the	the	DET
ftr-402	274	2	role	role	NOUN
ftr-402	274	3	of	of	ADP
ftr-402	274	4	profitability	profitability	NOUN
ftr-402	274	5	in	in	ADP
ftr-402	274	6	explaining	explain	VERB
ftr-402	274	7	differences	difference	NOUN
ftr-402	274	8	in	in	ADP
ftr-402	274	9	effective	effective	ADJ
ftr-402	274	10	tax	tax	NOUN
ftr-402	274	11	rates	rate	NOUN
ftr-402	274	12	has	have	AUX
ftr-402	274	13	also	also	ADV
ftr-402	274	14	changed	change	VERB
ftr-402	274	15	.	.	PUNCT
ftr-402	275	1	one	one	PRON
ftr-402	275	2	would	would	AUX
ftr-402	275	3	expect	expect	VERB
ftr-402	275	4	that	that	SCONJ
ftr-402	275	5	the	the	DET
ftr-402	275	6	more	more	ADV
ftr-402	275	7	profitable	profitable	ADJ
ftr-402	275	8	cfcs	cfc	NOUN
ftr-402	275	9	would	would	AUX
ftr-402	275	10	have	have	VERB
ftr-402	275	11	higher	high	ADJ
ftr-402	275	12	effective	effective	ADJ
ftr-402	275	13	rates	rate	NOUN
ftr-402	275	14	since	since	SCONJ
ftr-402	275	15	they	they	PRON
ftr-402	275	16	pay	pay	VERB
ftr-402	275	17	the	the	DET
ftr-402	275	18	statutory	statutory	ADJ
ftr-402	275	19	rate	rate	NOUN
ftr-402	275	20	on	on	ADP
ftr-402	275	21	the	the	DET
ftr-402	275	22	margin	margin	NOUN
ftr-402	275	23	.	.	PUNCT
ftr-402	276	1	at	at	ADP
ftr-402	276	2	the	the	DET
ftr-402	276	3	same	same	ADJ
ftr-402	276	4	time	time	NOUN
ftr-402	276	5	,	,	PUNCT
ftr-402	276	6	however	however	ADV
ftr-402	276	7	,	,	PUNCT
ftr-402	276	8	the	the	DET
ftr-402	276	9	more	more	ADV
ftr-402	276	10	profitable	profitable	ADJ
ftr-402	276	11	cfcs	cfc	NOUN
ftr-402	276	12	have	have	VERB
ftr-402	276	13	a	a	DET
ftr-402	276	14	greater	great	ADJ
ftr-402	276	15	incentive	incentive	NOUN
ftr-402	276	16	to	to	PART
ftr-402	276	17	use	use	VERB
ftr-402	276	18	hybrids	hybrid	NOUN
ftr-402	276	19	and	and	CCONJ
ftr-402	276	20	other	other	ADJ
ftr-402	276	21	planning	planning	NOUN
ftr-402	276	22	techniques	technique	NOUN
ftr-402	276	23	to	to	PART
ftr-402	276	24	strip	strip	VERB
ftr-402	276	25	income	income	NOUN
ftr-402	276	26	from	from	ADP
ftr-402	276	27	their	their	PRON
ftr-402	276	28	tax	tax	NOUN
ftr-402	276	29	base	base	NOUN
ftr-402	276	30	.	.	PUNCT
ftr-402	277	1	our	our	PRON
ftr-402	277	2	regression	regression	NOUN
ftr-402	277	3	results	result	NOUN
ftr-402	277	4	show	show	VERB
ftr-402	277	5	that	that	SCONJ
ftr-402	277	6	in	in	ADP
ftr-402	277	7	1996	1996	NUM
ftr-402	277	8	,	,	PUNCT
ftr-402	277	9	differences	difference	NOUN
ftr-402	277	10	in	in	ADP
ftr-402	277	11	profitability	profitability	NOUN
ftr-402	277	12	explained	explain	VERB
ftr-402	277	13	none	none	NOUN
ftr-402	277	14	of	of	ADP
ftr-402	277	15	the	the	DET
ftr-402	277	16	variation	variation	NOUN
ftr-402	277	17	in	in	ADP
ftr-402	277	18	cfc	cfc	PROPN
ftr-402	277	19	effective	effective	ADJ
ftr-402	277	20	tax	tax	NOUN
ftr-402	277	21	rates	rate	NOUN
ftr-402	277	22	(	(	PUNCT
ftr-402	277	23	the	the	DET
ftr-402	277	24	coefficient	coefficient	NOUN
ftr-402	277	25	is	be	AUX
ftr-402	277	26	not	not	PART
ftr-402	277	27	statistically	statistically	ADV
ftr-402	277	28	different	different	ADJ
ftr-402	277	29	from	from	ADP
ftr-402	277	30	zero	zero	NUM
ftr-402	277	31	)	)	PUNCT
ftr-402	277	32	.	.	PUNCT
ftr-402	278	1	in	in	ADP
ftr-402	278	2	2000	2000	NUM
ftr-402	278	3	,	,	PUNCT
ftr-402	278	4	however	however	ADV
ftr-402	278	5	,	,	PUNCT
ftr-402	278	6	the	the	DET
ftr-402	278	7	coefficient	coefficient	NOUN
ftr-402	278	8	on	on	ADP
ftr-402	278	9	cfc	cfc	PROPN
ftr-402	278	10	earnings	earning	NOUN
ftr-402	278	11	and	and	CCONJ
ftr-402	278	12	profits	profit	NOUN
ftr-402	278	13	(	(	PUNCT
ftr-402	278	14	as	as	ADP
ftr-402	278	15	a	a	DET
ftr-402	278	16	percentage	percentage	NOUN
ftr-402	278	17	of	of	ADP
ftr-402	278	18	sales	sale	NOUN
ftr-402	278	19	)	)	PUNCT
ftr-402	278	20	was	be	AUX
ftr-402	278	21	negative	negative	ADJ
ftr-402	278	22	and	and	CCONJ
ftr-402	278	23	statistically	statistically	ADV
ftr-402	278	24	different	different	ADJ
ftr-402	278	25	from	from	ADP
ftr-402	278	26	zero	zero	NUM
ftr-402	278	27	at	at	ADP
ftr-402	278	28	conventional	conventional	ADJ
ftr-402	278	29	levels	level	NOUN
ftr-402	278	30	.	.	PUNCT
ftr-402	279	1	higher	high	ADJ
ftr-402	279	2	profitability	profitability	NOUN
ftr-402	279	3	in	in	ADP
ftr-402	279	4	a	a	DET
ftr-402	279	5	country	country	NOUN
ftr-402	279	6	is	be	AUX
ftr-402	279	7	now	now	ADV
ftr-402	279	8	associated	associate	VERB
ftr-402	279	9	with	with	ADP
ftr-402	279	10	lower	low	ADJ
ftr-402	279	11	effective	effective	ADJ
ftr-402	279	12	tax	tax	NOUN
ftr-402	279	13	rates	rate	NOUN
ftr-402	279	14	.	.	PUNCT
ftr-402	280	1	we	we	PRON
ftr-402	280	2	also	also	ADV
ftr-402	280	3	find	find	VERB
ftr-402	280	4	a	a	DET
ftr-402	280	5	difference	difference	NOUN
ftr-402	280	6	in	in	ADP
ftr-402	280	7	the	the	DET
ftr-402	280	8	role	role	NOUN
ftr-402	280	9	of	of	ADP
ftr-402	280	10	parent	parent	NOUN
ftr-402	280	11	r&d	r&d	NOUN
ftr-402	280	12	intensity	intensity	NOUN
ftr-402	280	13	across	across	ADP
ftr-402	280	14	the	the	DET
ftr-402	280	15	two	two	NUM
ftr-402	280	16	years	year	NOUN
ftr-402	280	17	.	.	PUNCT
ftr-402	281	1	in	in	ADP
ftr-402	281	2	1996	1996	NUM
ftr-402	281	3	,	,	PUNCT
ftr-402	281	4	parent	parent	NOUN
ftr-402	281	5	r&d	r&d	NOUN
ftr-402	281	6	intensity	intensity	NOUN
ftr-402	281	7	had	have	VERB
ftr-402	281	8	a	a	DET
ftr-402	281	9	positive	positive	ADJ
ftr-402	281	10	and	and	CCONJ
ftr-402	281	11	significant	significant	ADJ
ftr-402	281	12	effect	effect	NOUN
ftr-402	281	13	on	on	ADP
ftr-402	281	14	cfc	cfc	PROPN
ftr-402	281	15	effective	effective	ADJ
ftr-402	281	16	tax	tax	NOUN
ftr-402	281	17	rates	rate	NOUN
ftr-402	281	18	.	.	PUNCT
ftr-402	282	1	this	this	PRON
ftr-402	282	2	suggests	suggest	VERB
ftr-402	282	3	rent	rent	NOUN
ftr-402	282	4	extraction	extraction	NOUN
ftr-402	282	5	by	by	ADP
ftr-402	282	6	host	host	NOUN
ftr-402	282	7	countries	country	NOUN
ftr-402	282	8	who	who	PRON
ftr-402	282	9	believe	believe	VERB
ftr-402	282	10	that	that	SCONJ
ftr-402	282	11	,	,	PUNCT
ftr-402	282	12	for	for	ADP
ftr-402	282	13	most	most	ADJ
ftr-402	282	14	intangibles	intangible	NOUN
ftr-402	282	15	assets	asset	NOUN
ftr-402	282	16	like	like	ADP
ftr-402	282	17	patents	patent	NOUN
ftr-402	282	18	,	,	PUNCT
ftr-402	282	19	the	the	DET
ftr-402	282	20	mnc	mnc	PROPN
ftr-402	282	21	has	have	VERB
ftr-402	282	22	to	to	PART
ftr-402	282	23	produce	produce	VERB
ftr-402	282	24	locally	locally	ADV
ftr-402	282	25	in	in	ADP
ftr-402	282	26	order	order	NOUN
ftr-402	282	27	to	to	PART
ftr-402	282	28	be	be	AUX
ftr-402	282	29	in	in	ADP
ftr-402	282	30	the	the	DET
ftr-402	282	31	market	market	NOUN
ftr-402	282	32	.	.	PUNCT
ftr-402	283	1	as	as	SCONJ
ftr-402	283	2	we	we	PRON
ftr-402	283	3	explained	explain	VERB
ftr-402	283	4	above	above	ADV
ftr-402	283	5	,	,	PUNCT
ftr-402	283	6	however	however	ADV
ftr-402	283	7	,	,	PUNCT
ftr-402	283	8	checkthe	checkthe	ADJ
ftr-402	283	9	-	-	PUNCT
ftr-402	283	10	box	box	NOUN
ftr-402	283	11	made	make	VERB
ftr-402	283	12	it	it	PRON
ftr-402	283	13	easier	easy	ADJ
ftr-402	283	14	to	to	PART
ftr-402	283	15	lower	lower	VERB
ftr-402	283	16	effective	effective	ADJ
ftr-402	283	17	tax	tax	NOUN
ftr-402	283	18	rates	rate	NOUN
ftr-402	283	19	in	in	ADP
ftr-402	283	20	high	high	ADJ
ftr-402	283	21	-	-	PUNCT
ftr-402	283	22	tax	tax	NOUN
ftr-402	283	23	countries	country	NOUN
ftr-402	283	24	through	through	ADP
ftr-402	283	25	cost	cost	NOUN
ftr-402	283	26	sharing	sharing	NOUN
ftr-402	283	27	agreements	agreement	NOUN
ftr-402	283	28	.	.	PUNCT
ftr-402	284	1	our	our	PRON
ftr-402	284	2	regression	regression	NOUN
ftr-402	284	3	results	result	NOUN
ftr-402	284	4	provide	provide	VERB
ftr-402	284	5	some	some	DET
ftr-402	284	6	suggestive	suggestive	ADJ
ftr-402	284	7	evidence	evidence	NOUN
ftr-402	284	8	of	of	ADP
ftr-402	284	9	this	this	DET
ftr-402	284	10	tax	tax	NOUN
ftr-402	284	11	planning	planning	NOUN
ftr-402	284	12	behavior	behavior	NOUN
ftr-402	284	13	.	.	PUNCT
ftr-402	285	1	the	the	DET
ftr-402	285	2	coefficient	coefficient	NOUN
ftr-402	285	3	on	on	ADP
ftr-402	285	4	parent	parent	NOUN
ftr-402	285	5	r&d	r&d	NOUN
ftr-402	285	6	intensity	intensity	NOUN
ftr-402	285	7	is	be	AUX
ftr-402	285	8	smaller	small	ADJ
ftr-402	285	9	in	in	ADP
ftr-402	285	10	magnitude	magnitude	NOUN
ftr-402	285	11	and	and	CCONJ
ftr-402	285	12	significance	significance	NOUN
ftr-402	285	13	in	in	ADP
ftr-402	285	14	2000	2000	NUM
ftr-402	285	15	compared	compare	VERB
ftr-402	285	16	to	to	ADP
ftr-402	285	17	1996	1996	NUM
ftr-402	285	18	.	.	PUNCT
ftr-402	286	1	in	in	ADP
ftr-402	286	2	the	the	DET
ftr-402	286	3	weighted	weight	VERB
ftr-402	286	4	regression	regression	NOUN
ftr-402	286	5	results	result	NOUN
ftr-402	286	6	,	,	PUNCT
ftr-402	286	7	the	the	DET
ftr-402	286	8	coefficient	coefficient	NOUN
ftr-402	286	9	actually	actually	ADV
ftr-402	286	10	becomes	become	VERB
ftr-402	286	11	negative	negative	ADJ
ftr-402	286	12	and	and	CCONJ
ftr-402	286	13	highly	highly	ADV
ftr-402	286	14	significant	significant	ADJ
ftr-402	286	15	statistically	statistically	ADV
ftr-402	286	16	.	.	PUNCT
ftr-402	287	1	higher	high	ADJ
ftr-402	287	2	r&d	r&d	NOUN
ftr-402	287	3	expenditures	expenditure	NOUN
ftr-402	287	4	at	at	ADP
ftr-402	287	5	the	the	DET
ftr-402	287	6	parent	parent	NOUN
ftr-402	287	7	level	level	NOUN
ftr-402	287	8	,	,	PUNCT
ftr-402	287	9	all	all	PRON
ftr-402	287	10	else	else	ADV
ftr-402	287	11	equal	equal	ADJ
ftr-402	287	12	,	,	PUNCT
ftr-402	287	13	are	be	AUX
ftr-402	287	14	associated	associate	VERB
ftr-402	287	15	with	with	ADP
ftr-402	287	16	lower	low	ADJ
ftr-402	287	17	effective	effective	ADJ
ftr-402	287	18	tax	tax	NOUN
ftr-402	287	19	rates	rate	NOUN
ftr-402	287	20	at	at	ADP
ftr-402	287	21	the	the	DET
ftr-402	287	22	cfc	cfc	NOUN
ftr-402	287	23	-	-	PUNCT
ftr-402	287	24	level	level	NOUN
ftr-402	287	25	in	in	ADP
ftr-402	287	26	2000.5	2000.5	NUM
ftr-402	287	27	2005	2005	NUM
ftr-402	287	28	]	]	PUNCT
ftr-402	287	29	the	the	DET
ftr-402	287	30	three	three	NUM
ftr-402	287	31	parties	party	NOUN
ftr-402	287	32	in	in	ADP
ftr-402	287	33	the	the	DET
ftr-402	287	34	race	race	NOUN
ftr-402	287	35	to	to	ADP
ftr-402	287	36	the	the	DET
ftr-402	287	37	bottom	bottom	ADJ
ftr-402	287	38	165	165	NUM
ftr-402	287	39	vi	vi	NOUN
ftr-402	287	40	.	.	NOUN
ftr-402	287	41	evidence	evidence	NOUN
ftr-402	287	42	on	on	ADP
ftr-402	287	43	the	the	DET
ftr-402	287	44	growth	growth	NOUN
ftr-402	287	45	of	of	ADP
ftr-402	287	46	income	income	NOUN
ftr-402	287	47	shifting	shift	VERB
ftr-402	287	48	at	at	ADP
ftr-402	287	49	the	the	DET
ftr-402	287	50	subsidiary	subsidiary	NOUN
ftr-402	287	51	level	level	NOUN
ftr-402	287	52	the	the	DET
ftr-402	287	53	observation	observation	NOUN
ftr-402	287	54	that	that	PRON
ftr-402	287	55	reported	report	VERB
ftr-402	287	56	profitability	profitability	NOUN
ftr-402	287	57	is	be	AUX
ftr-402	287	58	much	much	ADV
ftr-402	287	59	higher	high	ADJ
ftr-402	287	60	in	in	ADP
ftr-402	287	61	low	low	ADJ
ftr-402	287	62	-	-	PUNCT
ftr-402	287	63	tax	tax	NOUN
ftr-402	287	64	countries	country	NOUN
ftr-402	287	65	than	than	ADP
ftr-402	287	66	high	high	ADJ
ftr-402	287	67	-	-	PUNCT
ftr-402	287	68	tax	tax	NOUN
ftr-402	287	69	countries	country	NOUN
ftr-402	287	70	,	,	PUNCT
ftr-402	287	71	suggesting	suggest	VERB
ftr-402	287	72	tax	tax	NOUN
ftr-402	287	73	induced	induce	VERB
ftr-402	287	74	income	income	NOUN
ftr-402	287	75	shifting	shifting	NOUN
ftr-402	287	76	,	,	PUNCT
ftr-402	287	77	goes	go	VERB
ftr-402	287	78	back	back	ADV
ftr-402	287	79	a	a	DET
ftr-402	287	80	long	long	ADJ
ftr-402	287	81	way	way	NOUN
ftr-402	287	82	,	,	PUNCT
ftr-402	287	83	at	at	ADP
ftr-402	287	84	least	least	ADJ
ftr-402	287	85	to	to	PART
ftr-402	287	86	grubert	grubert	VERB
ftr-402	287	87	and	and	CCONJ
ftr-402	287	88	mutti	mutti	PROPN
ftr-402	287	89	(	(	PUNCT
ftr-402	287	90	1991	1991	NUM
ftr-402	287	91	)	)	PUNCT
ftr-402	287	92	.	.	PUNCT
ftr-402	288	1	these	these	DET
ftr-402	288	2	differences	difference	NOUN
ftr-402	288	3	in	in	ADP
ftr-402	288	4	profitability	profitability	NOUN
ftr-402	288	5	could	could	AUX
ftr-402	288	6	be	be	AUX
ftr-402	288	7	attributable	attributable	ADJ
ftr-402	288	8	to	to	ADP
ftr-402	288	9	the	the	DET
ftr-402	288	10	shifting	shifting	NOUN
ftr-402	288	11	of	of	ADP
ftr-402	288	12	debt	debt	NOUN
ftr-402	288	13	,	,	PUNCT
ftr-402	288	14	and	and	CCONJ
ftr-402	288	15	therefore	therefore	ADV
ftr-402	288	16	interest	interest	NOUN
ftr-402	288	17	deductions	deduction	NOUN
ftr-402	288	18	,	,	PUNCT
ftr-402	288	19	to	to	ADP
ftr-402	288	20	high	high	ADJ
ftr-402	288	21	-	-	PUNCT
ftr-402	288	22	tax	tax	NOUN
ftr-402	288	23	jurisdictions	jurisdiction	NOUN
ftr-402	288	24	,	,	PUNCT
ftr-402	288	25	the	the	DET
ftr-402	288	26	manipulation	manipulation	NOUN
ftr-402	288	27	of	of	ADP
ftr-402	288	28	transfer	transfer	NOUN
ftr-402	288	29	prices	price	NOUN
ftr-402	288	30	for	for	ADP
ftr-402	288	31	goods	good	NOUN
ftr-402	288	32	and	and	CCONJ
ftr-402	288	33	services	service	NOUN
ftr-402	288	34	,	,	PUNCT
ftr-402	288	35	or	or	CCONJ
ftr-402	288	36	the	the	DET
ftr-402	288	37	failure	failure	NOUN
ftr-402	288	38	to	to	PART
ftr-402	288	39	pay	pay	VERB
ftr-402	288	40	adequate	adequate	ADJ
ftr-402	288	41	royalties	royalty	NOUN
ftr-402	288	42	for	for	ADP
ftr-402	288	43	intellectual	intellectual	ADJ
ftr-402	288	44	property	property	NOUN
ftr-402	288	45	contributed	contribute	VERB
ftr-402	288	46	by	by	ADP
ftr-402	288	47	the	the	DET
ftr-402	288	48	parent	parent	NOUN
ftr-402	288	49	company	company	NOUN
ftr-402	288	50	.	.	PUNCT
ftr-402	289	1	here	here	ADV
ftr-402	289	2	we	we	PRON
ftr-402	289	3	attempt	attempt	VERB
ftr-402	289	4	to	to	PART
ftr-402	289	5	see	see	VERB
ftr-402	289	6	whether	whether	SCONJ
ftr-402	289	7	the	the	DET
ftr-402	289	8	new	new	ADJ
ftr-402	289	9	opportunities	opportunity	NOUN
ftr-402	289	10	for	for	ADP
ftr-402	289	11	tax	tax	NOUN
ftr-402	289	12	avoidance	avoidance	NOUN
ftr-402	289	13	made	make	VERB
ftr-402	289	14	possible	possible	ADJ
ftr-402	289	15	by	by	ADP
ftr-402	289	16	recent	recent	ADJ
ftr-402	289	17	regulatory	regulatory	ADJ
ftr-402	289	18	changes	change	NOUN
ftr-402	289	19	,	,	PUNCT
ftr-402	289	20	and	and	CCONJ
ftr-402	289	21	the	the	DET
ftr-402	289	22	possible	possible	ADJ
ftr-402	289	23	complaisant	complaisant	ADJ
ftr-402	289	24	attitude	attitude	NOUN
ftr-402	289	25	of	of	ADP
ftr-402	289	26	the	the	DET
ftr-402	289	27	high	high	ADJ
ftr-402	289	28	-	-	PUNCT
ftr-402	289	29	tax	tax	NOUN
ftr-402	289	30	host	host	NOUN
ftr-402	289	31	countries	country	NOUN
ftr-402	289	32	wishing	wish	VERB
ftr-402	289	33	to	to	PART
ftr-402	289	34	attract	attract	VERB
ftr-402	289	35	investment	investment	NOUN
ftr-402	289	36	,	,	PUNCT
ftr-402	289	37	contributed	contribute	VERB
ftr-402	289	38	to	to	ADP
ftr-402	289	39	a	a	DET
ftr-402	289	40	widening	widening	NOUN
ftr-402	289	41	of	of	ADP
ftr-402	289	42	the	the	DET
ftr-402	289	43	profitability	profitability	NOUN
ftr-402	289	44	difference	difference	NOUN
ftr-402	289	45	between	between	ADP
ftr-402	289	46	highand	highand	ADJ
ftr-402	289	47	low	low	ADJ
ftr-402	289	48	-	-	PUNCT
ftr-402	289	49	tax	tax	NOUN
ftr-402	289	50	countries	country	NOUN
ftr-402	289	51	.	.	PUNCT
ftr-402	290	1	the	the	DET
ftr-402	290	2	effective	effective	ADJ
ftr-402	290	3	tax	tax	NOUN
ftr-402	290	4	rate	rate	NOUN
ftr-402	290	5	relevant	relevant	ADJ
ftr-402	290	6	for	for	ADP
ftr-402	290	7	investment	investment	NOUN
ftr-402	290	8	in	in	ADP
ftr-402	290	9	a	a	DET
ftr-402	290	10	location	location	NOUN
ftr-402	290	11	should	should	AUX
ftr-402	290	12	be	be	AUX
ftr-402	290	13	reduced	reduce	VERB
ftr-402	290	14	to	to	PART
ftr-402	290	15	reflect	reflect	VERB
ftr-402	290	16	the	the	DET
ftr-402	290	17	opportunities	opportunity	NOUN
ftr-402	290	18	created	create	VERB
ftr-402	290	19	by	by	ADP
ftr-402	290	20	the	the	DET
ftr-402	290	21	investment	investment	NOUN
ftr-402	290	22	for	for	ADP
ftr-402	290	23	shifting	shift	VERB
ftr-402	290	24	income	income	NOUN
ftr-402	290	25	in	in	ADP
ftr-402	290	26	(	(	PUNCT
ftr-402	290	27	for	for	ADP
ftr-402	290	28	low	low	ADJ
ftr-402	290	29	-	-	PUNCT
ftr-402	290	30	tax	tax	NOUN
ftr-402	290	31	countries	country	NOUN
ftr-402	290	32	)	)	PUNCT
ftr-402	290	33	or	or	CCONJ
ftr-402	290	34	out	out	ADV
ftr-402	290	35	(	(	PUNCT
ftr-402	290	36	for	for	ADP
ftr-402	290	37	high	high	ADJ
ftr-402	290	38	-	-	PUNCT
ftr-402	290	39	tax	tax	NOUN
ftr-402	290	40	countries	country	NOUN
ftr-402	290	41	)	)	PUNCT
ftr-402	290	42	.	.	PUNCT
ftr-402	291	1	(	(	PUNCT
ftr-402	291	2	see	see	VERB
ftr-402	291	3	grubert	grubert	NOUN
ftr-402	291	4	(	(	PUNCT
ftr-402	291	5	2004	2004	NUM
ftr-402	291	6	)	)	PUNCT
ftr-402	291	7	for	for	ADP
ftr-402	291	8	a	a	DET
ftr-402	291	9	discussion	discussion	NOUN
ftr-402	291	10	of	of	ADP
ftr-402	291	11	revising	revise	VERB
ftr-402	291	12	effective	effective	ADJ
ftr-402	291	13	tax	tax	NOUN
ftr-402	291	14	rates	rate	NOUN
ftr-402	291	15	to	to	PART
ftr-402	291	16	reflect	reflect	VERB
ftr-402	291	17	income	income	NOUN
ftr-402	291	18	shifting	shifting	NOUN
ftr-402	291	19	.	.	PUNCT
ftr-402	291	20	)	)	PUNCT
ftr-402	292	1	tables	table	VERB
ftr-402	292	2	5a	5a	NUM
ftr-402	292	3	and	and	CCONJ
ftr-402	292	4	5b	5b	NOUN
ftr-402	292	5	therefore	therefore	ADV
ftr-402	292	6	compare	compare	VERB
ftr-402	292	7	income	income	NOUN
ftr-402	292	8	shifting	shift	VERB
ftr-402	292	9	behavior	behavior	NOUN
ftr-402	292	10	in	in	ADP
ftr-402	292	11	1996	1996	NUM
ftr-402	292	12	and	and	CCONJ
ftr-402	292	13	2000	2000	NUM
ftr-402	292	14	.	.	PUNCT
ftr-402	293	1	table	table	NOUN
ftr-402	293	2	5a	5a	NOUN
ftr-402	293	3	includes	include	VERB
ftr-402	293	4	all	all	DET
ftr-402	293	5	manufacturing	manufacturing	NOUN
ftr-402	293	6	cfcs	cfc	NOUN
ftr-402	293	7	with	with	ADP
ftr-402	293	8	positive	positive	ADJ
ftr-402	293	9	profits	profit	NOUN
ftr-402	293	10	while	while	SCONJ
ftr-402	293	11	table	table	NOUN
ftr-402	293	12	5b	5b	NOUN
ftr-402	293	13	includes	include	VERB
ftr-402	293	14	only	only	ADV
ftr-402	293	15	the	the	DET
ftr-402	293	16	manufacturing	manufacturing	NOUN
ftr-402	293	17	subsidiaries	subsidiary	NOUN
ftr-402	293	18	among	among	ADP
ftr-402	293	19	the	the	DET
ftr-402	293	20	7500	7500	NUM
ftr-402	293	21	largest	large	ADJ
ftr-402	293	22	.	.	PUNCT
ftr-402	294	1	the	the	DET
ftr-402	294	2	dependent	dependent	ADJ
ftr-402	294	3	variable	variable	NOUN
ftr-402	294	4	in	in	ADP
ftr-402	294	5	each	each	PRON
ftr-402	294	6	of	of	ADP
ftr-402	294	7	the	the	DET
ftr-402	294	8	regressions	regression	NOUN
ftr-402	294	9	is	be	AUX
ftr-402	294	10	the	the	DET
ftr-402	294	11	ratio	ratio	NOUN
ftr-402	294	12	of	of	ADP
ftr-402	294	13	pre	pre	ADJ
ftr-402	294	14	-	-	ADJ
ftr-402	294	15	tax	tax	ADJ
ftr-402	294	16	profits	profit	NOUN
ftr-402	294	17	to	to	ADP
ftr-402	294	18	sales	sale	NOUN
ftr-402	294	19	.	.	PUNCT
ftr-402	295	1	the	the	DET
ftr-402	295	2	explanatory	explanatory	ADJ
ftr-402	295	3	variables	variable	NOUN
ftr-402	295	4	are	be	AUX
ftr-402	295	5	two	two	NUM
ftr-402	295	6	dummies	dummy	NOUN
ftr-402	295	7	for	for	ADP
ftr-402	295	8	cfc	cfc	PROPN
ftr-402	295	9	age	age	NOUN
ftr-402	295	10	,	,	PUNCT
ftr-402	295	11	the	the	DET
ftr-402	295	12	r&d	r&d	NOUN
ftr-402	295	13	and	and	CCONJ
ftr-402	295	14	advertising	advertising	NOUN
ftr-402	295	15	intensity	intensity	NOUN
ftr-402	295	16	of	of	ADP
ftr-402	295	17	the	the	DET
ftr-402	295	18	parent	parent	NOUN
ftr-402	295	19	,	,	PUNCT
ftr-402	295	20	and	and	CCONJ
ftr-402	295	21	the	the	DET
ftr-402	295	22	local	local	ADJ
ftr-402	295	23	statutory	statutory	ADJ
ftr-402	295	24	tax	tax	NOUN
ftr-402	295	25	rate	rate	NOUN
ftr-402	295	26	.	.	PUNCT
ftr-402	296	1	the	the	DET
ftr-402	296	2	latter	latter	ADJ
ftr-402	296	3	indicates	indicate	VERB
ftr-402	296	4	the	the	DET
ftr-402	296	5	incentive	incentive	NOUN
ftr-402	296	6	to	to	PART
ftr-402	296	7	shift	shift	VERB
ftr-402	296	8	income	income	NOUN
ftr-402	296	9	in	in	ADP
ftr-402	296	10	or	or	CCONJ
ftr-402	296	11	out	out	ADV
ftr-402	296	12	because	because	SCONJ
ftr-402	296	13	it	it	PRON
ftr-402	296	14	is	be	AUX
ftr-402	296	15	the	the	DET
ftr-402	296	16	tax	tax	NOUN
ftr-402	296	17	paid	pay	VERB
ftr-402	296	18	or	or	CCONJ
ftr-402	296	19	saved	save	VERB
ftr-402	296	20	on	on	ADP
ftr-402	296	21	a	a	DET
ftr-402	296	22	marginal	marginal	ADJ
ftr-402	296	23	dollar	dollar	NOUN
ftr-402	296	24	of	of	ADP
ftr-402	296	25	income	income	NOUN
ftr-402	296	26	.	.	PUNCT
ftr-402	297	1	as	as	SCONJ
ftr-402	297	2	expected	expect	VERB
ftr-402	297	3	,	,	PUNCT
ftr-402	297	4	the	the	DET
ftr-402	297	5	r&d	r&d	NOUN
ftr-402	297	6	and	and	CCONJ
ftr-402	297	7	advertising	advertising	NOUN
ftr-402	297	8	intensity	intensity	NOUN
ftr-402	297	9	of	of	ADP
ftr-402	297	10	the	the	DET
ftr-402	297	11	parent	parent	NOUN
ftr-402	297	12	are	be	AUX
ftr-402	297	13	significant	significant	ADJ
ftr-402	297	14	contributors	contributor	NOUN
ftr-402	297	15	to	to	PART
ftr-402	297	16	cfc	cfc	VERB
ftr-402	297	17	profitability	profitability	NOUN
ftr-402	297	18	.	.	PUNCT
ftr-402	298	1	the	the	DET
ftr-402	298	2	shifting	shift	VERB
ftr-402	298	3	variable	variable	NOUN
ftr-402	298	4	,	,	PUNCT
ftr-402	298	5	the	the	DET
ftr-402	298	6	statutory	statutory	ADJ
ftr-402	298	7	tax	tax	NOUN
ftr-402	298	8	rate	rate	NOUN
ftr-402	298	9	,	,	PUNCT
ftr-402	298	10	has	have	VERB
ftr-402	298	11	the	the	DET
ftr-402	298	12	expected	expect	VERB
ftr-402	298	13	negative	negative	ADJ
ftr-402	298	14	sign	sign	NOUN
ftr-402	298	15	and	and	CCONJ
ftr-402	298	16	is	be	AUX
ftr-402	298	17	highly	highly	ADV
ftr-402	298	18	significant	significant	ADJ
ftr-402	298	19	in	in	ADP
ftr-402	298	20	all	all	DET
ftr-402	298	21	the	the	DET
ftr-402	298	22	regressions	regression	NOUN
ftr-402	298	23	.	.	PUNCT
ftr-402	299	1	but	but	CCONJ
ftr-402	299	2	what	what	PRON
ftr-402	299	3	is	be	AUX
ftr-402	299	4	notable	notable	ADJ
ftr-402	299	5	is	be	AUX
ftr-402	299	6	that	that	SCONJ
ftr-402	299	7	the	the	DET
ftr-402	299	8	coefficient	coefficient	NOUN
ftr-402	299	9	for	for	ADP
ftr-402	299	10	2000	2000	NUM
ftr-402	299	11	is	be	AUX
ftr-402	299	12	significantly	significantly	ADV
ftr-402	299	13	larger	large	ADJ
ftr-402	299	14	in	in	ADP
ftr-402	299	15	absolute	absolute	ADJ
ftr-402	299	16	value	value	NOUN
ftr-402	299	17	than	than	ADP
ftr-402	299	18	the	the	DET
ftr-402	299	19	1996	1996	NUM
ftr-402	299	20	coefficient	coefficient	NOUN
ftr-402	299	21	,	,	PUNCT
ftr-402	299	22	by	by	ADP
ftr-402	299	23	about	about	ADV
ftr-402	299	24	two	two	NUM
ftr-402	299	25	thirds	third	NOUN
ftr-402	299	26	.	.	PUNCT
ftr-402	300	1	there	there	PRON
ftr-402	300	2	indeed	indeed	ADV
ftr-402	300	3	seems	seem	VERB
ftr-402	300	4	to	to	PART
ftr-402	300	5	have	have	AUX
ftr-402	300	6	been	be	AUX
ftr-402	300	7	a	a	DET
ftr-402	300	8	significant	significant	ADJ
ftr-402	300	9	widening	widening	NOUN
ftr-402	300	10	in	in	ADP
ftr-402	300	11	the	the	DET
ftr-402	300	12	profitability	profitability	NOUN
ftr-402	300	13	disparities	disparity	NOUN
ftr-402	300	14	between	between	ADP
ftr-402	300	15	high	high	ADJ
ftr-402	300	16	-	-	PUNCT
ftr-402	300	17	tax	tax	NOUN
ftr-402	300	18	and	and	CCONJ
ftr-402	300	19	low	low	ADJ
ftr-402	300	20	-	-	PUNCT
ftr-402	300	21	tax	tax	NOUN
ftr-402	300	22	countries	country	NOUN
ftr-402	300	23	.	.	PUNCT
ftr-402	301	1	this	this	DET
ftr-402	301	2	evidence	evidence	NOUN
ftr-402	301	3	of	of	ADP
ftr-402	301	4	growing	grow	VERB
ftr-402	301	5	profitability	profitability	NOUN
ftr-402	301	6	disparities	disparity	NOUN
ftr-402	301	7	has	have	VERB
ftr-402	301	8	several	several	ADJ
ftr-402	301	9	possible	possible	ADJ
ftr-402	301	10	explanations	explanation	NOUN
ftr-402	301	11	.	.	PUNCT
ftr-402	302	1	high	high	ADJ
ftr-402	302	2	-	-	PUNCT
ftr-402	302	3	tax	tax	NOUN
ftr-402	302	4	host	host	NOUN
ftr-402	302	5	countries	country	NOUN
ftr-402	302	6	may	may	AUX
ftr-402	302	7	have	have	AUX
ftr-402	302	8	reacted	react	VERB
ftr-402	302	9	to	to	ADP
ftr-402	302	10	the	the	DET
ftr-402	302	11	increasing	increase	VERB
ftr-402	302	12	tax	tax	NOUN
ftr-402	302	13	sensitivity	sensitivity	NOUN
ftr-402	302	14	of	of	ADP
ftr-402	302	15	investment	investment	NOUN
ftr-402	302	16	by	by	ADP
ftr-402	302	17	easing	ease	VERB
ftr-402	302	18	up	up	ADP
ftr-402	302	19	on	on	ADP
ftr-402	302	20	their	their	PRON
ftr-402	302	21	transfer	transfer	NOUN
ftr-402	302	22	pricing	pricing	NOUN
ftr-402	302	23	and	and	CCONJ
ftr-402	302	24	thin	thin	ADJ
ftr-402	302	25	capitalization	capitalization	NOUN
ftr-402	302	26	rules	rule	NOUN
ftr-402	302	27	in	in	ADP
ftr-402	302	28	order	order	NOUN
ftr-402	302	29	to	to	PART
ftr-402	302	30	attract	attract	VERB
ftr-402	302	31	mobile	mobile	ADJ
ftr-402	302	32	corporations	corporation	NOUN
ftr-402	302	33	.	.	PUNCT
ftr-402	303	1	it	it	PRON
ftr-402	303	2	could	could	AUX
ftr-402	303	3	be	be	AUX
ftr-402	303	4	that	that	SCONJ
ftr-402	303	5	some	some	DET
ftr-402	303	6	highly	highly	ADV
ftr-402	303	7	profitable	profitable	ADJ
ftr-402	303	8	subsidiaries	subsidiary	NOUN
ftr-402	303	9	in	in	ADP
ftr-402	303	10	high	high	ADJ
ftr-402	303	11	-	-	PUNCT
ftr-402	303	12	tax	tax	NOUN
ftr-402	303	13	countries	country	NOUN
ftr-402	303	14	“	"	PUNCT
ftr-402	303	15	disappeared	disappear	VERB
ftr-402	303	16	”	"	PUNCT
ftr-402	303	17	as	as	ADP
ftr-402	303	18	separate	separate	ADJ
ftr-402	303	19	cfcs	cfc	NOUN
ftr-402	303	20	and	and	CCONJ
ftr-402	303	21	became	become	VERB
ftr-402	303	22	part	part	NOUN
ftr-402	303	23	of	of	ADP
ftr-402	303	24	a	a	DET
ftr-402	303	25	consolidated	consolidated	ADJ
ftr-402	303	26	entity	entity	NOUN
ftr-402	303	27	based	base	VERB
ftr-402	303	28	in	in	ADP
ftr-402	303	29	a	a	DET
ftr-402	303	30	tax	tax	NOUN
ftr-402	303	31	haven	haven	NOUN
ftr-402	303	32	and	and	CCONJ
ftr-402	303	33	are	be	AUX
ftr-402	303	34	classified	classify	VERB
ftr-402	303	35	as	as	ADP
ftr-402	303	36	holding	hold	VERB
ftr-402	303	37	companies	company	NOUN
ftr-402	303	38	.	.	PUNCT
ftr-402	304	1	(	(	PUNCT
ftr-402	304	2	the	the	DET
ftr-402	304	3	consolidated	consolidated	ADJ
ftr-402	304	4	entities	entity	NOUN
ftr-402	304	5	that	that	PRON
ftr-402	304	6	survive	survive	VERB
ftr-402	304	7	as	as	ADP
ftr-402	304	8	hightax	hightax	NOUN
ftr-402	304	9	corporations	corporation	NOUN
ftr-402	304	10	in	in	ADP
ftr-402	304	11	the	the	DET
ftr-402	304	12	treasury	treasury	NOUN
ftr-402	304	13	files	file	NOUN
ftr-402	304	14	explain	explain	VERB
ftr-402	304	15	the	the	DET
ftr-402	304	16	negative	negative	ADJ
ftr-402	304	17	coefficient	coefficient	NOUN
ftr-402	304	18	for	for	ADP
ftr-402	304	19	profits	profit	NOUN
ftr-402	304	20	in	in	ADP
ftr-402	304	21	the	the	DET
ftr-402	304	22	effective	effective	ADJ
ftr-402	304	23	tax	tax	NOUN
ftr-402	304	24	rate	rate	NOUN
ftr-402	304	25	regressions	regression	NOUN
ftr-402	304	26	for	for	ADP
ftr-402	304	27	2000	2000	NUM
ftr-402	304	28	in	in	ADP
ftr-402	304	29	the	the	DET
ftr-402	304	30	previous	previous	ADJ
ftr-402	304	31	section	section	NOUN
ftr-402	304	32	.	.	PUNCT
ftr-402	305	1	for	for	ADP
ftr-402	305	2	both	both	DET
ftr-402	305	3	structures	structure	NOUN
ftr-402	305	4	,	,	PUNCT
ftr-402	305	5	the	the	DET
ftr-402	305	6	most	most	ADV
ftr-402	305	7	profitable	profitable	ADJ
ftr-402	305	8	companies	company	NOUN
ftr-402	305	9	are	be	AUX
ftr-402	305	10	the	the	DET
ftr-402	305	11	ones	one	NOUN
ftr-402	305	12	most	most	ADV
ftr-402	305	13	likely	likely	ADJ
ftr-402	305	14	to	to	PART
ftr-402	305	15	avail	avail	VERB
ftr-402	305	16	themselves	themselves	PRON
ftr-402	305	17	of	of	ADP
ftr-402	305	18	the	the	DET
ftr-402	305	19	new	new	ADJ
ftr-402	305	20	planning	planning	NOUN
ftr-402	305	21	strategies	strategy	NOUN
ftr-402	305	22	.	.	PUNCT
ftr-402	305	23	)	)	PUNCT
ftr-402	306	1	some	some	DET
ftr-402	306	2	consolidated	consolidated	ADJ
ftr-402	306	3	entities	entity	NOUN
ftr-402	306	4	listed	list	VERB
ftr-402	306	5	in	in	ADP
ftr-402	306	6	tax	tax	NOUN
ftr-402	306	7	havens	haven	NOUN
ftr-402	306	8	do	do	AUX
ftr-402	306	9	continue	continue	VERB
ftr-402	306	10	to	to	PART
ftr-402	306	11	be	be	AUX
ftr-402	306	12	classified	classify	VERB
ftr-402	306	13	in	in	ADP
ftr-402	306	14	manufacturing	manufacturing	NOUN
ftr-402	306	15	and	and	CCONJ
ftr-402	306	16	are	be	AUX
ftr-402	306	17	therefore	therefore	ADV
ftr-402	306	18	166	166	NUM
ftr-402	306	19	florida	florida	PROPN
ftr-402	306	20	tax	tax	NOUN
ftr-402	306	21	review	review	NOUN
ftr-402	307	1	[	[	X
ftr-402	307	2	vol.7:3	vol.7:3	NOUN
ftr-402	307	3	6	6	NUM
ftr-402	307	4	.	.	X
ftr-402	307	5	note	note	VERB
ftr-402	307	6	that	that	SCONJ
ftr-402	307	7	these	these	DET
ftr-402	307	8	figures	figure	NOUN
ftr-402	307	9	do	do	AUX
ftr-402	307	10	not	not	PART
ftr-402	307	11	include	include	VERB
ftr-402	307	12	dividends	dividend	NOUN
ftr-402	307	13	received	receive	VERB
ftr-402	307	14	by	by	ADP
ftr-402	307	15	hybrid	hybrid	ADJ
ftr-402	307	16	entities	entity	NOUN
ftr-402	307	17	in	in	ADP
ftr-402	307	18	low	low	ADJ
ftr-402	307	19	-	-	PUNCT
ftr-402	307	20	tax	tax	NOUN
ftr-402	307	21	countries	country	NOUN
ftr-402	307	22	since	since	SCONJ
ftr-402	307	23	information	information	NOUN
ftr-402	307	24	on	on	ADP
ftr-402	307	25	these	these	DET
ftr-402	307	26	operations	operation	NOUN
ftr-402	307	27	does	do	AUX
ftr-402	307	28	not	not	PART
ftr-402	307	29	appear	appear	VERB
ftr-402	307	30	in	in	ADP
ftr-402	307	31	the	the	DET
ftr-402	307	32	form	form	NOUN
ftr-402	307	33	5471	5471	NUM
ftr-402	307	34	file	file	NOUN
ftr-402	307	35	.	.	PUNCT
ftr-402	308	1	included	include	VERB
ftr-402	308	2	as	as	ADP
ftr-402	308	3	observations	observation	NOUN
ftr-402	308	4	in	in	ADP
ftr-402	308	5	our	our	PRON
ftr-402	308	6	regressions	regression	NOUN
ftr-402	308	7	.	.	PUNCT
ftr-402	309	1	in	in	ADP
ftr-402	309	2	fact	fact	NOUN
ftr-402	309	3	,	,	PUNCT
ftr-402	309	4	this	this	PRON
ftr-402	309	5	explains	explain	VERB
ftr-402	309	6	part	part	NOUN
ftr-402	309	7	of	of	ADP
ftr-402	309	8	the	the	DET
ftr-402	309	9	apparent	apparent	ADJ
ftr-402	309	10	growing	grow	VERB
ftr-402	309	11	amount	amount	NOUN
ftr-402	309	12	of	of	ADP
ftr-402	309	13	income	income	NOUN
ftr-402	309	14	shifting	shift	VERB
ftr-402	309	15	.	.	PUNCT
ftr-402	310	1	in	in	ADP
ftr-402	310	2	some	some	PRON
ftr-402	310	3	of	of	ADP
ftr-402	310	4	the	the	DET
ftr-402	310	5	regressions	regression	NOUN
ftr-402	310	6	,	,	PUNCT
ftr-402	310	7	such	such	ADJ
ftr-402	310	8	as	as	ADP
ftr-402	310	9	the	the	DET
ftr-402	310	10	unweighted	unweighted	ADJ
ftr-402	310	11	regressions	regression	NOUN
ftr-402	310	12	in	in	ADP
ftr-402	310	13	table	table	NOUN
ftr-402	310	14	5b	5b	NOUN
ftr-402	310	15	,	,	PUNCT
ftr-402	310	16	the	the	DET
ftr-402	310	17	increase	increase	NOUN
ftr-402	310	18	in	in	ADP
ftr-402	310	19	the	the	DET
ftr-402	310	20	shifting	shift	VERB
ftr-402	310	21	coefficient	coefficient	NOUN
ftr-402	310	22	shrinks	shrink	VERB
ftr-402	310	23	by	by	ADP
ftr-402	310	24	almost	almost	ADV
ftr-402	310	25	one	one	NUM
ftr-402	310	26	half	half	NOUN
ftr-402	310	27	when	when	SCONJ
ftr-402	310	28	cfcs	cfc	VERB
ftr-402	310	29	in	in	ADP
ftr-402	310	30	two	two	NUM
ftr-402	310	31	“	"	PUNCT
ftr-402	310	32	pure	pure	ADJ
ftr-402	310	33	”	"	PUNCT
ftr-402	310	34	tax	tax	NOUN
ftr-402	310	35	havens	haven	NOUN
ftr-402	310	36	with	with	ADP
ftr-402	310	37	no	no	DET
ftr-402	310	38	actual	actual	ADJ
ftr-402	310	39	manufacturing	manufacturing	NOUN
ftr-402	310	40	,	,	PUNCT
ftr-402	310	41	bermuda	bermuda	NOUN
ftr-402	310	42	and	and	CCONJ
ftr-402	310	43	the	the	DET
ftr-402	310	44	cayman	cayman	PROPN
ftr-402	310	45	islands	island	NOUN
ftr-402	310	46	,	,	PUNCT
ftr-402	310	47	are	be	AUX
ftr-402	310	48	excluded	exclude	VERB
ftr-402	310	49	from	from	ADP
ftr-402	310	50	the	the	DET
ftr-402	310	51	regressions	regression	NOUN
ftr-402	310	52	.	.	PUNCT
ftr-402	311	1	(	(	PUNCT
ftr-402	311	2	the	the	DET
ftr-402	311	3	next	next	ADJ
ftr-402	311	4	section	section	NOUN
ftr-402	311	5	examines	examine	VERB
ftr-402	311	6	more	more	ADV
ftr-402	311	7	aggregated	aggregated	ADJ
ftr-402	311	8	data	datum	NOUN
ftr-402	311	9	on	on	ADP
ftr-402	311	10	cfcs	cfc	NOUN
ftr-402	311	11	incorporated	incorporate	VERB
ftr-402	311	12	in	in	ADP
ftr-402	311	13	tax	tax	NOUN
ftr-402	311	14	havens	haven	NOUN
ftr-402	311	15	and	and	CCONJ
ftr-402	311	16	their	their	PRON
ftr-402	311	17	real	real	ADJ
ftr-402	311	18	investment	investment	NOUN
ftr-402	311	19	that	that	PRON
ftr-402	311	20	must	must	AUX
ftr-402	311	21	be	be	AUX
ftr-402	311	22	located	locate	VERB
ftr-402	311	23	elsewhere	elsewhere	ADV
ftr-402	311	24	.	.	PUNCT
ftr-402	311	25	)	)	PUNCT
ftr-402	312	1	in	in	ADP
ftr-402	312	2	summary	summary	NOUN
ftr-402	312	3	,	,	PUNCT
ftr-402	312	4	these	these	DET
ftr-402	312	5	subsidiary	subsidiary	ADJ
ftr-402	312	6	level	level	NOUN
ftr-402	312	7	data	datum	NOUN
ftr-402	312	8	suggest	suggest	VERB
ftr-402	312	9	the	the	DET
ftr-402	312	10	growing	grow	VERB
ftr-402	312	11	use	use	NOUN
ftr-402	312	12	of	of	ADP
ftr-402	312	13	aggressive	aggressive	ADJ
ftr-402	312	14	strategies	strategy	NOUN
ftr-402	312	15	,	,	PUNCT
ftr-402	312	16	with	with	ADP
ftr-402	312	17	the	the	DET
ftr-402	312	18	cooperation	cooperation	NOUN
ftr-402	312	19	of	of	ADP
ftr-402	312	20	host	host	NOUN
ftr-402	312	21	and	and	CCONJ
ftr-402	312	22	home	home	NOUN
ftr-402	312	23	countries	country	NOUN
ftr-402	312	24	,	,	PUNCT
ftr-402	312	25	to	to	PART
ftr-402	312	26	lower	low	ADJ
ftr-402	312	27	tax	tax	NOUN
ftr-402	312	28	burdens	burden	NOUN
ftr-402	312	29	on	on	ADP
ftr-402	312	30	direct	direct	ADJ
ftr-402	312	31	investment	investment	NOUN
ftr-402	312	32	abroad	abroad	ADV
ftr-402	312	33	.	.	PUNCT
ftr-402	313	1	the	the	DET
ftr-402	313	2	next	next	ADJ
ftr-402	313	3	two	two	NUM
ftr-402	313	4	sections	section	NOUN
ftr-402	313	5	use	use	VERB
ftr-402	313	6	more	more	ADJ
ftr-402	313	7	aggregate	aggregate	ADJ
ftr-402	313	8	data	datum	NOUN
ftr-402	313	9	on	on	ADP
ftr-402	313	10	income	income	NOUN
ftr-402	313	11	and	and	CCONJ
ftr-402	313	12	capital	capital	NOUN
ftr-402	313	13	from	from	ADP
ftr-402	313	14	both	both	CCONJ
ftr-402	313	15	the	the	DET
ftr-402	313	16	treasury	treasury	NOUN
ftr-402	313	17	files	file	NOUN
ftr-402	313	18	and	and	CCONJ
ftr-402	313	19	the	the	DET
ftr-402	313	20	bureau	bureau	NOUN
ftr-402	313	21	of	of	ADP
ftr-402	313	22	economic	economic	ADJ
ftr-402	313	23	analysis	analysis	NOUN
ftr-402	313	24	to	to	PART
ftr-402	313	25	supplement	supplement	VERB
ftr-402	313	26	this	this	DET
ftr-402	313	27	picture	picture	NOUN
ftr-402	313	28	.	.	PUNCT
ftr-402	314	1	vii	vii	PROPN
ftr-402	314	2	.	.	PROPN
ftr-402	314	3	evidence	evidence	NOUN
ftr-402	314	4	on	on	ADP
ftr-402	314	5	the	the	DET
ftr-402	314	6	location	location	NOUN
ftr-402	314	7	of	of	ADP
ftr-402	314	8	income	income	NOUN
ftr-402	314	9	and	and	CCONJ
ftr-402	314	10	real	real	ADJ
ftr-402	314	11	capital	capital	NOUN
ftr-402	314	12	further	further	ADJ
ftr-402	314	13	insight	insight	NOUN
ftr-402	314	14	on	on	ADP
ftr-402	314	15	self	self	NOUN
ftr-402	314	16	-	-	PUNCT
ftr-402	314	17	help	help	NOUN
ftr-402	314	18	and	and	CCONJ
ftr-402	314	19	its	its	PRON
ftr-402	314	20	impact	impact	NOUN
ftr-402	314	21	on	on	ADP
ftr-402	314	22	the	the	DET
ftr-402	314	23	location	location	NOUN
ftr-402	314	24	of	of	ADP
ftr-402	314	25	income	income	NOUN
ftr-402	314	26	can	can	AUX
ftr-402	314	27	be	be	AUX
ftr-402	314	28	obtained	obtain	VERB
ftr-402	314	29	from	from	ADP
ftr-402	314	30	table	table	NOUN
ftr-402	314	31	6	6	NUM
ftr-402	314	32	which	which	PRON
ftr-402	314	33	presents	present	VERB
ftr-402	314	34	selected	select	VERB
ftr-402	314	35	tabulations	tabulation	NOUN
ftr-402	314	36	from	from	ADP
ftr-402	314	37	the	the	DET
ftr-402	314	38	treasury	treasury	NOUN
ftr-402	314	39	form	form	NOUN
ftr-402	314	40	5471	5471	NUM
ftr-402	314	41	files	file	NOUN
ftr-402	314	42	for	for	ADP
ftr-402	314	43	1996	1996	NUM
ftr-402	314	44	and	and	CCONJ
ftr-402	314	45	2000	2000	NUM
ftr-402	314	46	.	.	PUNCT
ftr-402	315	1	the	the	DET
ftr-402	315	2	first	first	ADJ
ftr-402	315	3	two	two	NUM
ftr-402	315	4	rows	row	NOUN
ftr-402	315	5	confirm	confirm	VERB
ftr-402	315	6	that	that	SCONJ
ftr-402	315	7	earnings	earning	NOUN
ftr-402	315	8	in	in	ADP
ftr-402	315	9	seven	seven	NUM
ftr-402	315	10	major	major	ADJ
ftr-402	315	11	low	low	ADJ
ftr-402	315	12	-	-	PUNCT
ftr-402	315	13	tax	tax	NOUN
ftr-402	315	14	countries	country	NOUN
ftr-402	315	15	grew	grow	VERB
ftr-402	315	16	much	much	ADV
ftr-402	315	17	more	more	ADV
ftr-402	315	18	rapidly	rapidly	ADV
ftr-402	315	19	than	than	ADP
ftr-402	315	20	total	total	ADJ
ftr-402	315	21	earning	earning	NOUN
ftr-402	315	22	and	and	CCONJ
ftr-402	315	23	profits	profit	NOUN
ftr-402	315	24	of	of	ADP
ftr-402	315	25	all	all	DET
ftr-402	315	26	u.s	u.s	PROPN
ftr-402	315	27	subsidiaries	subsidiary	NOUN
ftr-402	315	28	.	.	PUNCT
ftr-402	316	1	the	the	DET
ftr-402	316	2	next	next	ADJ
ftr-402	316	3	row	row	NOUN
ftr-402	316	4	shows	show	VERB
ftr-402	316	5	that	that	SCONJ
ftr-402	316	6	a	a	DET
ftr-402	316	7	part	part	NOUN
ftr-402	316	8	of	of	ADP
ftr-402	316	9	this	this	DET
ftr-402	316	10	“	"	PUNCT
ftr-402	316	11	excess	excess	ADJ
ftr-402	316	12	”	"	PUNCT
ftr-402	316	13	growth	growth	NOUN
ftr-402	316	14	of	of	ADP
ftr-402	316	15	income	income	NOUN
ftr-402	316	16	in	in	ADP
ftr-402	316	17	these	these	DET
ftr-402	316	18	locations	location	NOUN
ftr-402	316	19	,	,	PUNCT
ftr-402	316	20	perhaps	perhaps	ADV
ftr-402	316	21	a	a	DET
ftr-402	316	22	third	third	ADJ
ftr-402	316	23	,	,	PUNCT
ftr-402	316	24	is	be	AUX
ftr-402	316	25	attributable	attributable	ADJ
ftr-402	316	26	to	to	ADP
ftr-402	316	27	the	the	DET
ftr-402	316	28	growth	growth	NOUN
ftr-402	316	29	in	in	ADP
ftr-402	316	30	dividends	dividend	NOUN
ftr-402	316	31	.	.	PUNCT
ftr-402	317	1	the	the	DET
ftr-402	317	2	remainder	remainder	NOUN
ftr-402	317	3	reflects	reflect	VERB
ftr-402	317	4	both	both	DET
ftr-402	317	5	increased	increase	VERB
ftr-402	317	6	real	real	ADJ
ftr-402	317	7	activity	activity	NOUN
ftr-402	317	8	and6	and6	NOUN
ftr-402	317	9	increased	increase	VERB
ftr-402	317	10	tax	tax	NOUN
ftr-402	317	11	planning	planning	NOUN
ftr-402	317	12	.	.	PUNCT
ftr-402	318	1	as	as	SCONJ
ftr-402	318	2	we	we	PRON
ftr-402	318	3	have	have	AUX
ftr-402	318	4	noted	note	VERB
ftr-402	318	5	,	,	PUNCT
ftr-402	318	6	tax	tax	NOUN
ftr-402	318	7	planning	planning	NOUN
ftr-402	318	8	can	can	AUX
ftr-402	318	9	not	not	PART
ftr-402	318	10	be	be	AUX
ftr-402	318	11	identified	identify	VERB
ftr-402	318	12	in	in	ADP
ftr-402	318	13	the	the	DET
ftr-402	318	14	treasury	treasury	NOUN
ftr-402	318	15	data	datum	NOUN
ftr-402	318	16	exclusively	exclusively	ADV
ftr-402	318	17	based	base	VERB
ftr-402	318	18	on	on	ADP
ftr-402	318	19	the	the	DET
ftr-402	318	20	country	country	NOUN
ftr-402	318	21	of	of	ADP
ftr-402	318	22	incorporation	incorporation	NOUN
ftr-402	318	23	of	of	ADP
ftr-402	318	24	the	the	DET
ftr-402	318	25	reporting	reporting	NOUN
ftr-402	318	26	cfc	cfc	NOUN
ftr-402	318	27	.	.	PUNCT
ftr-402	319	1	with	with	ADP
ftr-402	319	2	a	a	DET
ftr-402	319	3	low	low	ADJ
ftr-402	319	4	-	-	PUNCT
ftr-402	319	5	tax	tax	NOUN
ftr-402	319	6	company	company	NOUN
ftr-402	319	7	being	be	AUX
ftr-402	319	8	the	the	DET
ftr-402	319	9	disregarded	disregarded	ADJ
ftr-402	319	10	entity	entity	NOUN
ftr-402	319	11	that	that	PRON
ftr-402	319	12	disappears	disappear	VERB
ftr-402	319	13	from	from	ADP
ftr-402	319	14	the	the	DET
ftr-402	319	15	treasury	treasury	NOUN
ftr-402	319	16	’s	’s	PART
ftr-402	319	17	vision	vision	NOUN
ftr-402	319	18	,	,	PUNCT
ftr-402	319	19	the	the	DET
ftr-402	319	20	consolidated	consolidated	ADJ
ftr-402	319	21	income	income	NOUN
ftr-402	319	22	would	would	AUX
ftr-402	319	23	still	still	ADV
ftr-402	319	24	be	be	AUX
ftr-402	319	25	lodged	lodge	VERB
ftr-402	319	26	in	in	ADP
ftr-402	319	27	a	a	DET
ftr-402	319	28	cfc	cfc	NOUN
ftr-402	319	29	incorporated	incorporate	VERB
ftr-402	319	30	in	in	ADP
ftr-402	319	31	a	a	DET
ftr-402	319	32	high	high	ADJ
ftr-402	319	33	-	-	PUNCT
ftr-402	319	34	tax	tax	NOUN
ftr-402	319	35	country	country	NOUN
ftr-402	319	36	even	even	ADV
ftr-402	319	37	though	though	SCONJ
ftr-402	319	38	some	some	PRON
ftr-402	319	39	had	have	AUX
ftr-402	319	40	been	be	AUX
ftr-402	319	41	stripped	strip	VERB
ftr-402	319	42	out	out	ADP
ftr-402	319	43	.	.	PUNCT
ftr-402	320	1	(	(	PUNCT
ftr-402	320	2	the	the	DET
ftr-402	320	3	effective	effective	ADJ
ftr-402	320	4	tax	tax	NOUN
ftr-402	320	5	rate	rate	NOUN
ftr-402	320	6	regressions	regression	NOUN
ftr-402	320	7	above	above	ADV
ftr-402	320	8	,	,	PUNCT
ftr-402	320	9	which	which	PRON
ftr-402	320	10	showed	show	VERB
ftr-402	320	11	the	the	DET
ftr-402	320	12	lower	low	ADJ
ftr-402	320	13	correlation	correlation	NOUN
ftr-402	320	14	with	with	ADP
ftr-402	320	15	local	local	ADJ
ftr-402	320	16	statutory	statutory	ADJ
ftr-402	320	17	rates	rate	NOUN
ftr-402	320	18	and	and	CCONJ
ftr-402	320	19	the	the	DET
ftr-402	320	20	negative	negative	ADJ
ftr-402	320	21	influence	influence	NOUN
ftr-402	320	22	of	of	ADP
ftr-402	320	23	profitability	profitability	NOUN
ftr-402	320	24	,	,	PUNCT
ftr-402	320	25	reflected	reflect	VERB
ftr-402	320	26	this	this	DET
ftr-402	320	27	structure	structure	NOUN
ftr-402	320	28	.	.	PUNCT
ftr-402	321	1	as	as	SCONJ
ftr-402	321	2	explained	explain	VERB
ftr-402	321	3	further	far	ADV
ftr-402	321	4	below	below	ADV
ftr-402	321	5	,	,	PUNCT
ftr-402	321	6	the	the	DET
ftr-402	321	7	bureau	bureau	NOUN
ftr-402	321	8	of	of	ADP
ftr-402	321	9	economic	economic	ADJ
ftr-402	321	10	analysis	analysis	NOUN
ftr-402	321	11	(	(	PUNCT
ftr-402	321	12	bea	bea	PROPN
ftr-402	321	13	)	)	PUNCT
ftr-402	321	14	data	datum	NOUN
ftr-402	321	15	captures	capture	VERB
ftr-402	321	16	both	both	DET
ftr-402	321	17	structures	structure	NOUN
ftr-402	321	18	because	because	SCONJ
ftr-402	321	19	both	both	DET
ftr-402	321	20	locations	location	NOUN
ftr-402	321	21	are	be	AUX
ftr-402	321	22	given	give	VERB
ftr-402	321	23	separately	separately	ADV
ftr-402	321	24	,	,	PUNCT
ftr-402	321	25	with	with	ADP
ftr-402	321	26	one	one	NUM
ftr-402	321	27	owning	own	VERB
ftr-402	321	28	an	an	DET
ftr-402	321	29	interest	interest	NOUN
ftr-402	321	30	in	in	ADP
ftr-402	321	31	the	the	DET
ftr-402	321	32	other	other	ADJ
ftr-402	321	33	.	.	PUNCT
ftr-402	321	34	)	)	PUNCT
ftr-402	322	1	the	the	DET
ftr-402	322	2	next	next	ADJ
ftr-402	322	3	two	two	NUM
ftr-402	322	4	rows	row	NOUN
ftr-402	322	5	provide	provide	VERB
ftr-402	322	6	further	further	ADJ
ftr-402	322	7	evidence	evidence	NOUN
ftr-402	322	8	of	of	ADP
ftr-402	322	9	the	the	DET
ftr-402	322	10	hybrid	hybrid	ADJ
ftr-402	322	11	structure	structure	NOUN
ftr-402	322	12	in	in	ADP
ftr-402	322	13	which	which	PRON
ftr-402	322	14	the	the	DET
ftr-402	322	15	high	high	ADJ
ftr-402	322	16	-	-	PUNCT
ftr-402	322	17	tax	tax	NOUN
ftr-402	322	18	company	company	NOUN
ftr-402	322	19	disappears	disappear	VERB
ftr-402	322	20	.	.	PUNCT
ftr-402	323	1	total	total	ADJ
ftr-402	323	2	tangible	tangible	ADJ
ftr-402	323	3	capital	capital	NOUN
ftr-402	323	4	in	in	ADP
ftr-402	323	5	all	all	DET
ftr-402	323	6	locations	location	NOUN
ftr-402	323	7	grew	grow	VERB
ftr-402	323	8	by	by	ADP
ftr-402	323	9	28	28	NUM
ftr-402	323	10	%	%	NOUN
ftr-402	323	11	from	from	ADP
ftr-402	323	12	1996	1996	NUM
ftr-402	323	13	to	to	ADP
ftr-402	323	14	2000	2000	NUM
ftr-402	323	15	.	.	PUNCT
ftr-402	324	1	but	but	CCONJ
ftr-402	324	2	in	in	ADP
ftr-402	324	3	five	five	NUM
ftr-402	324	4	low	low	ADJ
ftr-402	324	5	-	-	PUNCT
ftr-402	324	6	tax	tax	NOUN
ftr-402	324	7	countries	country	NOUN
ftr-402	324	8	in	in	ADP
ftr-402	324	9	which	which	PRON
ftr-402	324	10	holding	hold	VERB
ftr-402	324	11	company	company	NOUN
ftr-402	324	12	income	income	NOUN
ftr-402	324	13	or	or	CCONJ
ftr-402	324	14	inter	inter	ADJ
ftr-402	324	15	-	-	ADJ
ftr-402	324	16	company	company	ADJ
ftr-402	324	17	equity	equity	NOUN
ftr-402	324	18	income	income	NOUN
ftr-402	324	19	is	be	AUX
ftr-402	324	20	a	a	DET
ftr-402	324	21	disproportionate	disproportionate	ADJ
ftr-402	324	22	share	share	NOUN
ftr-402	324	23	of	of	ADP
ftr-402	324	24	income	income	NOUN
ftr-402	324	25	,	,	PUNCT
ftr-402	324	26	tangible	tangible	ADJ
ftr-402	324	27	capital	capital	NOUN
ftr-402	324	28	grew	grow	VERB
ftr-402	324	29	by	by	ADP
ftr-402	324	30	almost	almost	ADV
ftr-402	324	31	200	200	NUM
ftr-402	324	32	%	%	NOUN
ftr-402	324	33	.	.	PUNCT
ftr-402	325	1	indeed	indeed	ADV
ftr-402	325	2	,	,	PUNCT
ftr-402	325	3	by	by	ADP
ftr-402	325	4	2000	2000	NUM
ftr-402	325	5	tangible	tangible	ADJ
ftr-402	325	6	capital	capital	NOUN
ftr-402	325	7	in	in	ADP
ftr-402	325	8	these	these	DET
ftr-402	325	9	countries	country	NOUN
ftr-402	325	10	accounted	account	VERB
ftr-402	325	11	for	for	ADP
ftr-402	325	12	about	about	ADV
ftr-402	325	13	15	15	NUM
ftr-402	325	14	%	%	NOUN
ftr-402	325	15	of	of	ADP
ftr-402	325	16	all	all	DET
ftr-402	325	17	capital	capital	NOUN
ftr-402	325	18	abroad	abroad	ADV
ftr-402	325	19	.	.	PUNCT
ftr-402	326	1	most	most	ADJ
ftr-402	326	2	of	of	ADP
ftr-402	326	3	this	this	PRON
ftr-402	326	4	2005	2005	NUM
ftr-402	326	5	]	]	PUNCT
ftr-402	326	6	the	the	DET
ftr-402	326	7	three	three	NUM
ftr-402	326	8	parties	party	NOUN
ftr-402	326	9	in	in	ADP
ftr-402	326	10	the	the	DET
ftr-402	326	11	race	race	NOUN
ftr-402	326	12	to	to	ADP
ftr-402	326	13	the	the	DET
ftr-402	326	14	bottom	bottom	ADJ
ftr-402	326	15	167	167	NUM
ftr-402	326	16	growth	growth	NOUN
ftr-402	326	17	must	must	AUX
ftr-402	326	18	reflect	reflect	VERB
ftr-402	326	19	the	the	DET
ftr-402	326	20	consolidation	consolidation	NOUN
ftr-402	326	21	of	of	ADP
ftr-402	326	22	the	the	DET
ftr-402	326	23	low	low	ADJ
ftr-402	326	24	-	-	PUNCT
ftr-402	326	25	tax	tax	NOUN
ftr-402	326	26	cfc	cfc	NOUN
ftr-402	326	27	with	with	ADP
ftr-402	326	28	the	the	DET
ftr-402	326	29	operations	operation	NOUN
ftr-402	326	30	of	of	ADP
ftr-402	326	31	a	a	DET
ftr-402	326	32	high	high	ADJ
ftr-402	326	33	-	-	PUNCT
ftr-402	326	34	tax	tax	NOUN
ftr-402	326	35	affiliate	affiliate	NOUN
ftr-402	326	36	.	.	PUNCT
ftr-402	327	1	viii	viii	PROPN
ftr-402	327	2	.	.	PUNCT
ftr-402	328	1	evidence	evidence	NOUN
ftr-402	328	2	on	on	ADP
ftr-402	328	3	tax	tax	NOUN
ftr-402	328	4	planning	planning	NOUN
ftr-402	328	5	in	in	ADP
ftr-402	328	6	the	the	DET
ftr-402	328	7	bea	bea	PROPN
ftr-402	328	8	data	data	PROPN
ftr-402	328	9	sullivan	sullivan	PROPN
ftr-402	328	10	(	(	PUNCT
ftr-402	328	11	2004	2004	NUM
ftr-402	328	12	)	)	PUNCT
ftr-402	328	13	reports	report	VERB
ftr-402	328	14	a	a	DET
ftr-402	328	15	dramatic	dramatic	ADJ
ftr-402	328	16	increase	increase	NOUN
ftr-402	328	17	in	in	ADP
ftr-402	328	18	u.s	u.s	PROPN
ftr-402	328	19	.	.	PROPN
ftr-402	328	20	profits	profit	NOUN
ftr-402	328	21	reported	report	VERB
ftr-402	328	22	abroad	abroad	ADV
ftr-402	328	23	in	in	ADP
ftr-402	328	24	low	low	ADJ
ftr-402	328	25	-	-	PUNCT
ftr-402	328	26	tax	tax	NOUN
ftr-402	328	27	countries	country	NOUN
ftr-402	328	28	between	between	ADP
ftr-402	328	29	1999	1999	NUM
ftr-402	328	30	and	and	CCONJ
ftr-402	328	31	2002	2002	NUM
ftr-402	328	32	.	.	PUNCT
ftr-402	329	1	(	(	PUNCT
ftr-402	329	2	his	his	PRON
ftr-402	329	3	analysis	analysis	NOUN
ftr-402	329	4	received	receive	VERB
ftr-402	329	5	wide	wide	ADJ
ftr-402	329	6	coverage	coverage	NOUN
ftr-402	329	7	in	in	ADP
ftr-402	329	8	the	the	DET
ftr-402	329	9	u.s	u.s	PROPN
ftr-402	329	10	.	.	PROPN
ftr-402	329	11	press	press	PROPN
ftr-402	329	12	.	.	PUNCT
ftr-402	329	13	)	)	PUNCT
ftr-402	330	1	according	accord	VERB
ftr-402	330	2	to	to	ADP
ftr-402	330	3	bea	bea	PROPN
ftr-402	330	4	data	data	PROPN
ftr-402	330	5	,	,	PUNCT
ftr-402	330	6	the	the	DET
ftr-402	330	7	pre	pre	ADJ
ftr-402	330	8	-	-	ADJ
ftr-402	330	9	tax	tax	ADJ
ftr-402	330	10	profits	profit	NOUN
ftr-402	330	11	of	of	ADP
ftr-402	330	12	foreign	foreign	ADJ
ftr-402	330	13	subsidiaries	subsidiary	NOUN
ftr-402	330	14	grew	grow	VERB
ftr-402	330	15	from	from	ADP
ftr-402	330	16	$	$	SYM
ftr-402	330	17	207	207	NUM
ftr-402	330	18	billion	billion	NUM
ftr-402	330	19	in	in	ADP
ftr-402	330	20	1999	1999	NUM
ftr-402	330	21	to	to	ADP
ftr-402	330	22	$	$	SYM
ftr-402	330	23	255	255	NUM
ftr-402	330	24	billion	billion	NUM
ftr-402	330	25	in	in	ADP
ftr-402	330	26	2002	2002	NUM
ftr-402	330	27	.	.	PUNCT
ftr-402	331	1	this	this	DET
ftr-402	331	2	23	23	NUM
ftr-402	331	3	%	%	NOUN
ftr-402	331	4	increase	increase	NOUN
ftr-402	331	5	in	in	ADP
ftr-402	331	6	foreign	foreign	ADJ
ftr-402	331	7	profits	profit	NOUN
ftr-402	331	8	was	be	AUX
ftr-402	331	9	dwarfed	dwarfed	ADJ
ftr-402	331	10	by	by	ADP
ftr-402	331	11	the	the	DET
ftr-402	331	12	growth	growth	NOUN
ftr-402	331	13	of	of	ADP
ftr-402	331	14	profits	profit	NOUN
ftr-402	331	15	in	in	ADP
ftr-402	331	16	18	18	NUM
ftr-402	331	17	countries	country	NOUN
ftr-402	331	18	sullivan	sullivan	NOUN
ftr-402	331	19	denotes	denote	NOUN
ftr-402	331	20	as	as	ADP
ftr-402	331	21	tax	tax	NOUN
ftr-402	331	22	havens	haven	NOUN
ftr-402	331	23	.	.	PUNCT
ftr-402	332	1	profits	profit	NOUN
ftr-402	332	2	in	in	ADP
ftr-402	332	3	these	these	DET
ftr-402	332	4	countries	country	NOUN
ftr-402	332	5	increased	increase	VERB
ftr-402	332	6	68	68	NUM
ftr-402	332	7	%	%	NOUN
ftr-402	332	8	over	over	ADP
ftr-402	332	9	the	the	DET
ftr-402	332	10	same	same	ADJ
ftr-402	332	11	period	period	NOUN
ftr-402	332	12	from	from	ADP
ftr-402	332	13	$	$	SYM
ftr-402	332	14	88	88	NUM
ftr-402	332	15	billion	billion	NUM
ftr-402	332	16	in	in	ADP
ftr-402	332	17	1999	1999	NUM
ftr-402	332	18	to	to	ADP
ftr-402	332	19	$	$	SYM
ftr-402	332	20	149	149	NUM
ftr-402	332	21	billion	billion	NUM
ftr-402	332	22	in	in	ADP
ftr-402	332	23	2002	2002	NUM
ftr-402	332	24	.	.	PUNCT
ftr-402	333	1	sullivan	sullivan	PROPN
ftr-402	333	2	calculates	calculate	VERB
ftr-402	333	3	the	the	DET
ftr-402	333	4	share	share	NOUN
ftr-402	333	5	of	of	ADP
ftr-402	333	6	foreign	foreign	ADJ
ftr-402	333	7	profits	profit	NOUN
ftr-402	333	8	as	as	ADV
ftr-402	333	9	well	well	ADV
ftr-402	333	10	as	as	ADP
ftr-402	333	11	effective	effective	ADJ
ftr-402	333	12	tax	tax	NOUN
ftr-402	333	13	rates	rate	NOUN
ftr-402	333	14	by	by	ADP
ftr-402	333	15	country	country	NOUN
ftr-402	333	16	for	for	ADP
ftr-402	333	17	both	both	DET
ftr-402	333	18	1999	1999	NUM
ftr-402	333	19	and	and	CCONJ
ftr-402	333	20	2002	2002	NUM
ftr-402	333	21	.	.	PUNCT
ftr-402	334	1	almost	almost	ADV
ftr-402	334	2	one	one	NUM
ftr-402	334	3	-	-	PUNCT
ftr-402	334	4	third	third	NOUN
ftr-402	334	5	(	(	PUNCT
ftr-402	334	6	31	31	NUM
ftr-402	334	7	%	%	NOUN
ftr-402	334	8	)	)	PUNCT
ftr-402	334	9	of	of	ADP
ftr-402	334	10	profits	profit	NOUN
ftr-402	334	11	were	be	AUX
ftr-402	334	12	“	"	PUNCT
ftr-402	334	13	located	locate	VERB
ftr-402	334	14	”	"	PUNCT
ftr-402	334	15	in	in	ADP
ftr-402	334	16	luxembourg	luxembourg	PROPN
ftr-402	334	17	,	,	PUNCT
ftr-402	334	18	ireland	ireland	PROPN
ftr-402	334	19	,	,	PUNCT
ftr-402	334	20	bermuda	bermuda	NOUN
ftr-402	334	21	,	,	PUNCT
ftr-402	334	22	and	and	CCONJ
ftr-402	334	23	singapore	singapore	PROPN
ftr-402	334	24	in	in	ADP
ftr-402	334	25	2002	2002	NUM
ftr-402	334	26	(	(	PUNCT
ftr-402	334	27	up	up	ADP
ftr-402	334	28	from	from	ADP
ftr-402	334	29	15	15	NUM
ftr-402	334	30	%	%	NOUN
ftr-402	334	31	in	in	ADP
ftr-402	334	32	1999	1999	NUM
ftr-402	334	33	)	)	PUNCT
ftr-402	334	34	.	.	PUNCT
ftr-402	335	1	effective	effective	ADJ
ftr-402	335	2	tax	tax	NOUN
ftr-402	335	3	rates	rate	NOUN
ftr-402	335	4	fell	fall	VERB
ftr-402	335	5	over	over	ADP
ftr-402	335	6	the	the	DET
ftr-402	335	7	sample	sample	NOUN
ftr-402	335	8	period	period	NOUN
ftr-402	335	9	from	from	ADP
ftr-402	335	10	22	22	NUM
ftr-402	335	11	%	%	NOUN
ftr-402	335	12	in	in	ADP
ftr-402	335	13	1999	1999	NUM
ftr-402	335	14	to	to	ADP
ftr-402	335	15	20	20	NUM
ftr-402	335	16	%	%	NOUN
ftr-402	335	17	in	in	ADP
ftr-402	335	18	2002	2002	NUM
ftr-402	335	19	.	.	PUNCT
ftr-402	336	1	for	for	ADP
ftr-402	336	2	some	some	DET
ftr-402	336	3	countries	country	NOUN
ftr-402	336	4	the	the	DET
ftr-402	336	5	decrease	decrease	NOUN
ftr-402	336	6	in	in	ADP
ftr-402	336	7	effective	effective	ADJ
ftr-402	336	8	tax	tax	NOUN
ftr-402	336	9	rates	rate	NOUN
ftr-402	336	10	was	be	AUX
ftr-402	336	11	extreme	extreme	ADJ
ftr-402	336	12	.	.	PUNCT
ftr-402	337	1	the	the	DET
ftr-402	337	2	effective	effective	ADJ
ftr-402	337	3	tax	tax	NOUN
ftr-402	337	4	rates	rate	NOUN
ftr-402	337	5	for	for	ADP
ftr-402	337	6	spain	spain	PROPN
ftr-402	337	7	,	,	PUNCT
ftr-402	337	8	belgium	belgium	PROPN
ftr-402	337	9	,	,	PUNCT
ftr-402	337	10	denmark	denmark	PROPN
ftr-402	337	11	,	,	PUNCT
ftr-402	337	12	luxembourg	luxembourg	PROPN
ftr-402	337	13	,	,	PUNCT
ftr-402	337	14	portugal	portugal	PROPN
ftr-402	337	15	and	and	CCONJ
ftr-402	337	16	new	new	PROPN
ftr-402	337	17	zealand	zealand	PROPN
ftr-402	337	18	fell	fall	VERB
ftr-402	337	19	by	by	ADP
ftr-402	337	20	half	half	DET
ftr-402	337	21	or	or	CCONJ
ftr-402	337	22	more	more	ADJ
ftr-402	337	23	.	.	PUNCT
ftr-402	338	1	ix	ix	INTJ
ftr-402	338	2	.	.	PUNCT
ftr-402	339	1	the	the	DET
ftr-402	339	2	double	double	ADJ
ftr-402	339	3	counting	counting	NOUN
ftr-402	339	4	problem	problem	NOUN
ftr-402	339	5	sullivan	sullivan	PROPN
ftr-402	339	6	uses	use	VERB
ftr-402	339	7	data	datum	NOUN
ftr-402	339	8	tabulated	tabulate	VERB
ftr-402	339	9	by	by	ADP
ftr-402	339	10	country	country	NOUN
ftr-402	339	11	on	on	ADP
ftr-402	339	12	the	the	DET
ftr-402	339	13	income	income	NOUN
ftr-402	339	14	of	of	ADP
ftr-402	339	15	majorityowned	majorityowne	VERB
ftr-402	339	16	foreign	foreign	ADJ
ftr-402	339	17	affiliates	affiliate	NOUN
ftr-402	339	18	(	(	PUNCT
ftr-402	339	19	mofas	mofas	NOUN
ftr-402	339	20	)	)	PUNCT
ftr-402	339	21	based	base	VERB
ftr-402	339	22	on	on	ADP
ftr-402	339	23	annual	annual	ADJ
ftr-402	339	24	surveys	survey	NOUN
ftr-402	339	25	compiled	compile	VERB
ftr-402	339	26	by	by	ADP
ftr-402	339	27	the	the	DET
ftr-402	339	28	bea	bea	PROPN
ftr-402	339	29	.	.	PUNCT
ftr-402	340	1	a	a	DET
ftr-402	340	2	mofa	mofa	PROPN
ftr-402	340	3	is	be	AUX
ftr-402	340	4	a	a	DET
ftr-402	340	5	foreign	foreign	ADJ
ftr-402	340	6	affiliate	affiliate	NOUN
ftr-402	340	7	in	in	ADP
ftr-402	340	8	which	which	PRON
ftr-402	340	9	the	the	DET
ftr-402	340	10	combined	combined	ADJ
ftr-402	340	11	direct	direct	ADJ
ftr-402	340	12	and	and	CCONJ
ftr-402	340	13	indirect	indirect	ADJ
ftr-402	340	14	ownership	ownership	NOUN
ftr-402	340	15	interest	interest	NOUN
ftr-402	340	16	of	of	ADP
ftr-402	340	17	all	all	DET
ftr-402	340	18	u.s	u.s	PROPN
ftr-402	340	19	.	.	PROPN
ftr-402	340	20	parents	parent	NOUN
ftr-402	340	21	exceeds	exceed	VERB
ftr-402	340	22	50	50	NUM
ftr-402	340	23	%	%	NOUN
ftr-402	340	24	.	.	PUNCT
ftr-402	341	1	among	among	ADP
ftr-402	341	2	other	other	ADJ
ftr-402	341	3	items	item	NOUN
ftr-402	341	4	,	,	PUNCT
ftr-402	341	5	the	the	DET
ftr-402	341	6	parent	parent	NOUN
ftr-402	341	7	is	be	AUX
ftr-402	341	8	asked	ask	VERB
ftr-402	341	9	to	to	PART
ftr-402	341	10	provide	provide	VERB
ftr-402	341	11	income	income	NOUN
ftr-402	341	12	and	and	CCONJ
ftr-402	341	13	balance	balance	NOUN
ftr-402	341	14	sheet	sheet	NOUN
ftr-402	341	15	information	information	NOUN
ftr-402	341	16	for	for	ADP
ftr-402	341	17	each	each	DET
ftr-402	341	18	mofa	mofa	PROPN
ftr-402	341	19	.	.	PUNCT
ftr-402	342	1	an	an	DET
ftr-402	342	2	advantage	advantage	NOUN
ftr-402	342	3	of	of	ADP
ftr-402	342	4	this	this	DET
ftr-402	342	5	dataset	dataset	NOUN
ftr-402	342	6	is	be	AUX
ftr-402	342	7	that	that	SCONJ
ftr-402	342	8	,	,	PUNCT
ftr-402	342	9	unlike	unlike	ADP
ftr-402	342	10	the	the	DET
ftr-402	342	11	treasury	treasury	NOUN
ftr-402	342	12	form	form	NOUN
ftr-402	342	13	5471	5471	NUM
ftr-402	342	14	data	datum	NOUN
ftr-402	342	15	,	,	PUNCT
ftr-402	342	16	these	these	DET
ftr-402	342	17	data	datum	NOUN
ftr-402	342	18	include	include	VERB
ftr-402	342	19	information	information	NOUN
ftr-402	342	20	for	for	ADP
ftr-402	342	21	the	the	DET
ftr-402	342	22	“	"	PUNCT
ftr-402	342	23	disregarded	disregarded	ADJ
ftr-402	342	24	”	"	PUNCT
ftr-402	342	25	hybrid	hybrid	ADJ
ftr-402	342	26	entities	entity	NOUN
ftr-402	342	27	.	.	PUNCT
ftr-402	343	1	u.s	u.s	PROPN
ftr-402	343	2	.	.	PROPN
ftr-402	343	3	parents	parent	NOUN
ftr-402	343	4	are	be	AUX
ftr-402	343	5	instructed	instruct	VERB
ftr-402	343	6	to	to	PART
ftr-402	343	7	include	include	VERB
ftr-402	343	8	income	income	NOUN
ftr-402	343	9	from	from	ADP
ftr-402	343	10	equity	equity	NOUN
ftr-402	343	11	investments	investment	NOUN
ftr-402	343	12	in	in	ADP
ftr-402	343	13	foreign	foreign	ADJ
ftr-402	343	14	affiliates	affiliate	NOUN
ftr-402	343	15	in	in	ADP
ftr-402	343	16	their	their	PRON
ftr-402	343	17	report	report	NOUN
ftr-402	343	18	of	of	ADP
ftr-402	343	19	total	total	ADJ
ftr-402	343	20	income	income	NOUN
ftr-402	343	21	for	for	ADP
ftr-402	343	22	each	each	DET
ftr-402	343	23	mofa	mofa	PROPN
ftr-402	343	24	.	.	PUNCT
ftr-402	344	1	if	if	SCONJ
ftr-402	344	2	the	the	DET
ftr-402	344	3	intercompany	intercompany	NOUN
ftr-402	344	4	payment	payment	NOUN
ftr-402	344	5	is	be	AUX
ftr-402	344	6	a	a	DET
ftr-402	344	7	dividend	dividend	NOUN
ftr-402	344	8	paid	pay	VERB
ftr-402	344	9	out	out	ADP
ftr-402	344	10	of	of	ADP
ftr-402	344	11	net	net	ADJ
ftr-402	344	12	income	income	NOUN
ftr-402	344	13	,	,	PUNCT
ftr-402	344	14	it	it	PRON
ftr-402	344	15	will	will	AUX
ftr-402	344	16	continue	continue	VERB
ftr-402	344	17	to	to	PART
ftr-402	344	18	be	be	AUX
ftr-402	344	19	counted	count	VERB
ftr-402	344	20	in	in	ADP
ftr-402	344	21	the	the	DET
ftr-402	344	22	paying	pay	VERB
ftr-402	344	23	company	company	NOUN
ftr-402	344	24	’s	’s	PART
ftr-402	344	25	profits	profit	NOUN
ftr-402	344	26	.	.	PUNCT
ftr-402	345	1	as	as	ADP
ftr-402	345	2	a	a	DET
ftr-402	345	3	result	result	NOUN
ftr-402	345	4	,	,	PUNCT
ftr-402	345	5	these	these	DET
ftr-402	345	6	data	datum	NOUN
ftr-402	345	7	reflect	reflect	VERB
ftr-402	345	8	double	double	ADJ
ftr-402	345	9	counting	counting	NOUN
ftr-402	345	10	of	of	ADP
ftr-402	345	11	inter	inter	ADJ
ftr-402	345	12	-	-	ADJ
ftr-402	345	13	company	company	ADJ
ftr-402	345	14	dividends	dividend	NOUN
ftr-402	345	15	.	.	PUNCT
ftr-402	346	1	to	to	PART
ftr-402	346	2	see	see	VERB
ftr-402	346	3	why	why	SCONJ
ftr-402	346	4	this	this	PRON
ftr-402	346	5	would	would	AUX
ftr-402	346	6	cause	cause	VERB
ftr-402	346	7	a	a	DET
ftr-402	346	8	problem	problem	NOUN
ftr-402	346	9	in	in	ADP
ftr-402	346	10	analyzing	analyze	VERB
ftr-402	346	11	this	this	DET
ftr-402	346	12	data	datum	NOUN
ftr-402	346	13	,	,	PUNCT
ftr-402	346	14	consider	consider	VERB
ftr-402	346	15	the	the	DET
ftr-402	346	16	following	follow	VERB
ftr-402	346	17	example	example	NOUN
ftr-402	346	18	.	.	PUNCT
ftr-402	347	1	suppose	suppose	VERB
ftr-402	347	2	a	a	DET
ftr-402	347	3	u.s	u.s	PROPN
ftr-402	347	4	.	.	PROPN
ftr-402	347	5	parent	parent	NOUN
ftr-402	347	6	fully	fully	ADV
ftr-402	347	7	owns	own	VERB
ftr-402	347	8	a	a	DET
ftr-402	347	9	holding	hold	VERB
ftr-402	347	10	company	company	NOUN
ftr-402	347	11	in	in	ADP
ftr-402	347	12	country	country	PROPN
ftr-402	347	13	a	a	PRON
ftr-402	347	14	that	that	PRON
ftr-402	347	15	has	have	VERB
ftr-402	347	16	no	no	DET
ftr-402	347	17	corporate	corporate	ADJ
ftr-402	347	18	income	income	NOUN
ftr-402	347	19	tax	tax	NOUN
ftr-402	347	20	.	.	PUNCT
ftr-402	348	1	suppose	suppose	VERB
ftr-402	348	2	further	far	ADV
ftr-402	348	3	that	that	SCONJ
ftr-402	348	4	the	the	DET
ftr-402	348	5	holding	hold	VERB
ftr-402	348	6	company	company	NOUN
ftr-402	348	7	in	in	ADP
ftr-402	348	8	country	country	NOUN
ftr-402	348	9	a	a	PRON
ftr-402	348	10	fully	fully	ADV
ftr-402	348	11	owns	own	VERB
ftr-402	348	12	a	a	DET
ftr-402	348	13	manufacturing	manufacturing	NOUN
ftr-402	348	14	affiliate	affiliate	NOUN
ftr-402	348	15	in	in	ADP
ftr-402	348	16	country	country	PROPN
ftr-402	348	17	b	b	PROPN
ftr-402	348	18	that	that	PRON
ftr-402	348	19	generates	generate	VERB
ftr-402	348	20	$	$	SYM
ftr-402	348	21	1,000	1,000	NUM
ftr-402	348	22	in	in	ADP
ftr-402	348	23	pre	pre	ADJ
ftr-402	348	24	-	-	ADJ
ftr-402	348	25	tax	tax	ADJ
ftr-402	348	26	profits	profit	NOUN
ftr-402	348	27	.	.	PUNCT
ftr-402	349	1	assume	assume	VERB
ftr-402	349	2	that	that	SCONJ
ftr-402	349	3	country	country	NOUN
ftr-402	349	4	b	b	PROPN
ftr-402	349	5	has	have	VERB
ftr-402	349	6	a	a	DET
ftr-402	349	7	corporate	corporate	ADJ
ftr-402	349	8	statutory	statutory	ADJ
ftr-402	349	9	rate	rate	NOUN
ftr-402	349	10	of	of	ADP
ftr-402	349	11	40	40	NUM
ftr-402	349	12	%	%	NOUN
ftr-402	349	13	.	.	PUNCT
ftr-402	350	1	for	for	ADP
ftr-402	350	2	simplicity	simplicity	NOUN
ftr-402	350	3	,	,	PUNCT
ftr-402	350	4	suppose	suppose	VERB
ftr-402	350	5	that	that	SCONJ
ftr-402	350	6	the	the	DET
ftr-402	350	7	affiliate	affiliate	NOUN
ftr-402	350	8	in	in	ADP
ftr-402	350	9	country	country	PROPN
ftr-402	350	10	b	b	PROPN
ftr-402	350	11	remits	remit	VERB
ftr-402	350	12	all	all	DET
ftr-402	350	13	$	$	SYM
ftr-402	350	14	600	600	NUM
ftr-402	350	15	of	of	ADP
ftr-402	350	16	after	after	ADP
ftr-402	350	17	-	-	PUNCT
ftr-402	350	18	tax	tax	NOUN
ftr-402	350	19	profits	profit	NOUN
ftr-402	350	20	to	to	ADP
ftr-402	350	21	the	the	DET
ftr-402	350	22	holding	hold	VERB
ftr-402	350	23	company	company	NOUN
ftr-402	350	24	in	in	ADP
ftr-402	350	25	the	the	DET
ftr-402	350	26	form	form	NOUN
ftr-402	350	27	of	of	ADP
ftr-402	350	28	a	a	DET
ftr-402	350	29	dividend	dividend	NOUN
ftr-402	350	30	payment	payment	NOUN
ftr-402	350	31	.	.	PUNCT
ftr-402	351	1	income	income	NOUN
ftr-402	351	2	earned	earn	VERB
ftr-402	351	3	in	in	ADP
ftr-402	351	4	the	the	DET
ftr-402	351	5	manufacturing	manufacturing	NOUN
ftr-402	351	6	affiliate	affiliate	NOUN
ftr-402	351	7	in	in	ADP
ftr-402	351	8	country	country	PROPN
ftr-402	351	9	b	b	PROPN
ftr-402	351	10	will	will	AUX
ftr-402	351	11	be	be	AUX
ftr-402	351	12	reported	report	VERB
ftr-402	351	13	on	on	ADP
ftr-402	351	14	the	the	DET
ftr-402	351	15	information	information	NOUN
ftr-402	351	16	form	form	VERB
ftr-402	351	17	the	the	DET
ftr-402	351	18	parent	parent	NOUN
ftr-402	351	19	files	file	NOUN
ftr-402	351	20	for	for	ADP
ftr-402	351	21	this	this	DET
ftr-402	351	22	indirectly	indirectly	ADV
ftr-402	351	23	held	hold	VERB
ftr-402	351	24	affiliate	affiliate	NOUN
ftr-402	351	25	.	.	PUNCT
ftr-402	352	1	importantly	importantly	ADV
ftr-402	352	2	,	,	PUNCT
ftr-402	352	3	the	the	DET
ftr-402	352	4	income	income	NOUN
ftr-402	352	5	earned	earn	VERB
ftr-402	352	6	in	in	ADP
ftr-402	352	7	the	the	DET
ftr-402	352	8	country	country	NOUN
ftr-402	352	9	b	b	PROPN
ftr-402	352	10	affiliate	affiliate	NOUN
ftr-402	352	11	will	will	AUX
ftr-402	352	12	also	also	ADV
ftr-402	352	13	be	be	AUX
ftr-402	352	14	reported	report	VERB
ftr-402	352	15	on	on	ADP
ftr-402	352	16	the	the	DET
ftr-402	352	17	information	information	NOUN
ftr-402	352	18	form	form	VERB
ftr-402	352	19	the	the	DET
ftr-402	352	20	168	168	NUM
ftr-402	352	21	florida	florida	PROPN
ftr-402	352	22	tax	tax	NOUN
ftr-402	352	23	review	review	NOUN
ftr-402	353	1	[	[	X
ftr-402	353	2	vol.7:3	vol.7:3	NOUN
ftr-402	353	3	7	7	X
ftr-402	353	4	.	.	PUNCT
ftr-402	353	5	see	see	VERB
ftr-402	353	6	borga	borga	NOUN
ftr-402	353	7	and	and	CCONJ
ftr-402	353	8	mataloni	mataloni	NOUN
ftr-402	353	9	(	(	PUNCT
ftr-402	353	10	2001	2001	NUM
ftr-402	353	11	)	)	PUNCT
ftr-402	353	12	for	for	ADP
ftr-402	353	13	a	a	DET
ftr-402	353	14	discussion	discussion	NOUN
ftr-402	353	15	of	of	ADP
ftr-402	353	16	the	the	DET
ftr-402	353	17	problems	problem	NOUN
ftr-402	353	18	created	create	VERB
ftr-402	353	19	for	for	ADP
ftr-402	353	20	the	the	DET
ftr-402	353	21	bea	bea	PROPN
ftr-402	353	22	direct	direct	PROPN
ftr-402	353	23	investment	investment	NOUN
ftr-402	353	24	data	datum	NOUN
ftr-402	353	25	by	by	ADP
ftr-402	353	26	the	the	DET
ftr-402	353	27	rise	rise	NOUN
ftr-402	353	28	of	of	ADP
ftr-402	353	29	holding	hold	VERB
ftr-402	353	30	companies	company	NOUN
ftr-402	353	31	.	.	PUNCT
ftr-402	354	1	parent	parent	NOUN
ftr-402	354	2	files	file	NOUN
ftr-402	354	3	for	for	ADP
ftr-402	354	4	the	the	DET
ftr-402	354	5	holding	hold	VERB
ftr-402	354	6	company	company	NOUN
ftr-402	354	7	in	in	ADP
ftr-402	354	8	country	country	NOUN
ftr-402	354	9	a.	a.	NOUN
ftr-402	354	10	instead	instead	ADV
ftr-402	354	11	of	of	ADP
ftr-402	354	12	showing	show	VERB
ftr-402	354	13	$	$	SYM
ftr-402	354	14	600	600	NUM
ftr-402	354	15	in	in	ADP
ftr-402	354	16	after	after	ADP
ftr-402	354	17	-	-	PUNCT
ftr-402	354	18	tax	tax	NOUN
ftr-402	354	19	total	total	ADJ
ftr-402	354	20	affiliate	affiliate	NOUN
ftr-402	354	21	profits	profit	NOUN
ftr-402	354	22	,	,	PUNCT
ftr-402	354	23	the	the	DET
ftr-402	354	24	bea	bea	PROPN
ftr-402	354	25	data	data	PROPN
ftr-402	354	26	shows	show	VERB
ftr-402	354	27	$	$	SYM
ftr-402	354	28	1,200	1,200	NUM
ftr-402	354	29	.	.	PUNCT
ftr-402	355	1	this	this	DET
ftr-402	355	2	potential	potential	ADJ
ftr-402	355	3	double	double	ADJ
ftr-402	355	4	counting	counting	NOUN
ftr-402	355	5	of	of	ADP
ftr-402	355	6	lower	low	ADJ
ftr-402	355	7	-	-	PUNCT
ftr-402	355	8	tier	tier	NOUN
ftr-402	355	9	profits	profit	NOUN
ftr-402	355	10	presents	present	VERB
ftr-402	355	11	serious	serious	ADJ
ftr-402	355	12	problems	problem	NOUN
ftr-402	355	13	in	in	ADP
ftr-402	355	14	the	the	DET
ftr-402	355	15	interpretation	interpretation	NOUN
ftr-402	355	16	of	of	ADP
ftr-402	355	17	this	this	DET
ftr-402	355	18	affiliate	affiliate	NOUN
ftr-402	355	19	income	income	NOUN
ftr-402	355	20	data	datum	NOUN
ftr-402	355	21	.	.	PUNCT
ftr-402	356	1	continuing	continue	VERB
ftr-402	356	2	with	with	ADP
ftr-402	356	3	our	our	PRON
ftr-402	356	4	example	example	NOUN
ftr-402	356	5	using	use	VERB
ftr-402	356	6	the	the	DET
ftr-402	356	7	years	year	NOUN
ftr-402	356	8	1999	1999	NUM
ftr-402	356	9	to	to	ADP
ftr-402	356	10	2002	2002	NUM
ftr-402	356	11	,	,	PUNCT
ftr-402	356	12	assume	assume	VERB
ftr-402	356	13	that	that	SCONJ
ftr-402	356	14	the	the	DET
ftr-402	356	15	profits	profit	NOUN
ftr-402	356	16	of	of	ADP
ftr-402	356	17	the	the	DET
ftr-402	356	18	manufacturing	manufacturing	NOUN
ftr-402	356	19	affiliate	affiliate	NOUN
ftr-402	356	20	in	in	ADP
ftr-402	356	21	country	country	PROPN
ftr-402	356	22	b	b	NOUN
ftr-402	356	23	did	do	AUX
ftr-402	356	24	not	not	PART
ftr-402	356	25	change	change	VERB
ftr-402	356	26	between	between	ADP
ftr-402	356	27	1999	1999	NUM
ftr-402	356	28	and	and	CCONJ
ftr-402	356	29	2002	2002	NUM
ftr-402	356	30	,	,	PUNCT
ftr-402	356	31	but	but	CCONJ
ftr-402	356	32	the	the	DET
ftr-402	356	33	parent	parent	NOUN
ftr-402	356	34	inserted	insert	VERB
ftr-402	356	35	the	the	DET
ftr-402	356	36	holding	hold	VERB
ftr-402	356	37	company	company	NOUN
ftr-402	356	38	in	in	ADP
ftr-402	356	39	our	our	PRON
ftr-402	356	40	example	example	NOUN
ftr-402	356	41	between	between	ADP
ftr-402	356	42	itself	itself	PRON
ftr-402	356	43	and	and	CCONJ
ftr-402	356	44	country	country	NOUN
ftr-402	356	45	b	b	NOUN
ftr-402	356	46	during	during	ADP
ftr-402	356	47	this	this	DET
ftr-402	356	48	period	period	NOUN
ftr-402	356	49	(	(	PUNCT
ftr-402	356	50	in	in	ADP
ftr-402	356	51	other	other	ADJ
ftr-402	356	52	words	word	NOUN
ftr-402	356	53	,	,	PUNCT
ftr-402	356	54	the	the	DET
ftr-402	356	55	holding	hold	VERB
ftr-402	356	56	company	company	NOUN
ftr-402	356	57	in	in	ADP
ftr-402	356	58	country	country	NOUN
ftr-402	356	59	a	a	PRON
ftr-402	356	60	did	do	AUX
ftr-402	356	61	not	not	PART
ftr-402	356	62	exist	exist	VERB
ftr-402	356	63	in	in	ADP
ftr-402	356	64	1999	1999	NUM
ftr-402	356	65	)	)	PUNCT
ftr-402	356	66	.	.	PUNCT
ftr-402	357	1	the	the	DET
ftr-402	357	2	bea	bea	PROPN
ftr-402	357	3	mofa	mofa	PROPN
ftr-402	357	4	data	data	PROPN
ftr-402	357	5	would	would	AUX
ftr-402	357	6	show	show	VERB
ftr-402	357	7	a	a	DET
ftr-402	357	8	60	60	NUM
ftr-402	357	9	%	%	NOUN
ftr-402	357	10	increase	increase	NOUN
ftr-402	357	11	in	in	ADP
ftr-402	357	12	worldwide	worldwide	ADJ
ftr-402	357	13	pre	pre	ADJ
ftr-402	357	14	-	-	ADJ
ftr-402	357	15	tax	tax	ADJ
ftr-402	357	16	profits	profit	NOUN
ftr-402	357	17	(	(	PUNCT
ftr-402	357	18	from	from	ADP
ftr-402	357	19	$	$	SYM
ftr-402	357	20	1000	1000	NUM
ftr-402	357	21	to	to	ADP
ftr-402	357	22	$	$	SYM
ftr-402	357	23	1600	1600	NUM
ftr-402	357	24	)	)	PUNCT
ftr-402	357	25	even	even	ADV
ftr-402	357	26	though	though	SCONJ
ftr-402	357	27	there	there	PRON
ftr-402	357	28	was	be	VERB
ftr-402	357	29	no	no	DET
ftr-402	357	30	change	change	NOUN
ftr-402	357	31	in	in	ADP
ftr-402	357	32	these	these	DET
ftr-402	357	33	profits	profit	NOUN
ftr-402	357	34	and	and	CCONJ
ftr-402	357	35	no	no	DET
ftr-402	357	36	tax	tax	NOUN
ftr-402	357	37	savings	saving	NOUN
ftr-402	357	38	.	.	PUNCT
ftr-402	358	1	further	far	ADV
ftr-402	358	2	,	,	PUNCT
ftr-402	358	3	since	since	SCONJ
ftr-402	358	4	country	country	NOUN
ftr-402	358	5	a	a	PRON
ftr-402	358	6	would	would	AUX
ftr-402	358	7	be	be	AUX
ftr-402	358	8	classified	classify	VERB
ftr-402	358	9	as	as	ADP
ftr-402	358	10	a	a	DET
ftr-402	358	11	tax	tax	NOUN
ftr-402	358	12	haven	haven	NOUN
ftr-402	358	13	country	country	NOUN
ftr-402	358	14	and	and	CCONJ
ftr-402	358	15	country	country	NOUN
ftr-402	358	16	b	b	NOUN
ftr-402	358	17	would	would	AUX
ftr-402	358	18	not	not	PART
ftr-402	358	19	,	,	PUNCT
ftr-402	358	20	the	the	DET
ftr-402	358	21	data	datum	NOUN
ftr-402	358	22	would	would	AUX
ftr-402	358	23	depict	depict	VERB
ftr-402	358	24	a	a	DET
ftr-402	358	25	dramatic	dramatic	ADJ
ftr-402	358	26	growth	growth	NOUN
ftr-402	358	27	of	of	ADP
ftr-402	358	28	profits	profit	NOUN
ftr-402	358	29	in	in	ADP
ftr-402	358	30	tax	tax	NOUN
ftr-402	358	31	havens	haven	NOUN
ftr-402	358	32	(	(	PUNCT
ftr-402	358	33	from	from	ADP
ftr-402	358	34	$	$	SYM
ftr-402	358	35	0	0	NUM
ftr-402	358	36	to	to	ADP
ftr-402	358	37	$	$	SYM
ftr-402	358	38	600	600	NUM
ftr-402	358	39	)	)	PUNCT
ftr-402	358	40	.	.	PUNCT
ftr-402	359	1	note	note	VERB
ftr-402	359	2	that	that	SCONJ
ftr-402	359	3	if	if	SCONJ
ftr-402	359	4	the	the	DET
ftr-402	359	5	affiliate	affiliate	NOUN
ftr-402	359	6	in	in	ADP
ftr-402	359	7	country	country	NOUN
ftr-402	359	8	b	b	PROPN
ftr-402	359	9	made	make	VERB
ftr-402	359	10	a	a	DET
ftr-402	359	11	deductible	deductible	ADJ
ftr-402	359	12	payment	payment	NOUN
ftr-402	359	13	to	to	ADP
ftr-402	359	14	the	the	DET
ftr-402	359	15	tax	tax	NOUN
ftr-402	359	16	haven	haven	NOUN
ftr-402	359	17	affiliate	affiliate	NOUN
ftr-402	359	18	in	in	ADP
ftr-402	359	19	country	country	PROPN
ftr-402	359	20	a	a	PRON
ftr-402	359	21	,	,	PUNCT
ftr-402	359	22	pre	pre	ADJ
ftr-402	359	23	-	-	ADJ
ftr-402	359	24	tax	tax	ADJ
ftr-402	359	25	income	income	NOUN
ftr-402	359	26	would	would	AUX
ftr-402	359	27	increase	increase	VERB
ftr-402	359	28	by	by	ADP
ftr-402	359	29	the	the	DET
ftr-402	359	30	amount	amount	NOUN
ftr-402	359	31	of	of	ADP
ftr-402	359	32	the	the	DET
ftr-402	359	33	payment	payment	NOUN
ftr-402	359	34	in	in	ADP
ftr-402	359	35	country	country	NOUN
ftr-402	359	36	a	a	PRON
ftr-402	359	37	and	and	CCONJ
ftr-402	359	38	fall	fall	VERB
ftr-402	359	39	by	by	ADP
ftr-402	359	40	the	the	DET
ftr-402	359	41	same	same	ADJ
ftr-402	359	42	amount	amount	NOUN
ftr-402	359	43	in	in	ADP
ftr-402	359	44	country	country	NOUN
ftr-402	359	45	b	b	NOUN
ftr-402	359	46	,	,	PUNCT
ftr-402	359	47	leaving	leave	VERB
ftr-402	359	48	total	total	ADJ
ftr-402	359	49	affiliate	affiliate	NOUN
ftr-402	359	50	income	income	NOUN
ftr-402	360	1	unchanged.7	unchanged.7	NOUN
ftr-402	360	2	x.	x.	NOUN
ftr-402	360	3	implications	implication	NOUN
ftr-402	360	4	of	of	ADP
ftr-402	360	5	the	the	DET
ftr-402	360	6	growth	growth	NOUN
ftr-402	360	7	of	of	ADP
ftr-402	360	8	equity	equity	NOUN
ftr-402	360	9	income	income	NOUN
ftr-402	360	10	from	from	ADP
ftr-402	360	11	foreign	foreign	ADJ
ftr-402	360	12	affiliates	affiliate	NOUN
ftr-402	360	13	our	our	PRON
ftr-402	360	14	simple	simple	ADJ
ftr-402	360	15	example	example	NOUN
ftr-402	360	16	shows	show	VERB
ftr-402	360	17	the	the	DET
ftr-402	360	18	importance	importance	NOUN
ftr-402	360	19	of	of	ADP
ftr-402	360	20	inter	inter	ADJ
ftr-402	360	21	-	-	ADJ
ftr-402	360	22	company	company	ADJ
ftr-402	360	23	equity	equity	NOUN
ftr-402	360	24	income	income	NOUN
ftr-402	360	25	in	in	ADP
ftr-402	360	26	explaining	explain	VERB
ftr-402	360	27	the	the	DET
ftr-402	360	28	growth	growth	NOUN
ftr-402	360	29	of	of	ADP
ftr-402	360	30	affiliate	affiliate	NOUN
ftr-402	360	31	profits	profit	NOUN
ftr-402	360	32	abroad	abroad	ADV
ftr-402	360	33	.	.	PUNCT
ftr-402	361	1	the	the	DET
ftr-402	361	2	equity	equity	NOUN
ftr-402	361	3	in	in	ADP
ftr-402	361	4	the	the	DET
ftr-402	361	5	income	income	NOUN
ftr-402	361	6	of	of	ADP
ftr-402	361	7	foreign	foreign	ADJ
ftr-402	361	8	affiliates	affiliate	NOUN
ftr-402	361	9	has	have	AUX
ftr-402	361	10	increased	increase	VERB
ftr-402	361	11	very	very	ADV
ftr-402	361	12	rapidly	rapidly	ADV
ftr-402	361	13	in	in	ADP
ftr-402	361	14	recent	recent	ADJ
ftr-402	361	15	years	year	NOUN
ftr-402	361	16	.	.	PUNCT
ftr-402	362	1	table	table	NOUN
ftr-402	362	2	7	7	NUM
ftr-402	362	3	shows	show	VERB
ftr-402	362	4	information	information	NOUN
ftr-402	362	5	on	on	ADP
ftr-402	362	6	the	the	DET
ftr-402	362	7	growth	growth	NOUN
ftr-402	362	8	of	of	ADP
ftr-402	362	9	equity	equity	NOUN
ftr-402	362	10	income	income	NOUN
ftr-402	362	11	from	from	ADP
ftr-402	362	12	the	the	DET
ftr-402	362	13	bea	bea	PROPN
ftr-402	362	14	data	data	PROPN
ftr-402	362	15	.	.	PUNCT
ftr-402	363	1	from	from	ADP
ftr-402	363	2	1997	1997	NUM
ftr-402	363	3	,	,	PUNCT
ftr-402	363	4	when	when	SCONJ
ftr-402	363	5	check	check	VERB
ftr-402	363	6	-	-	PUNCT
ftr-402	363	7	the	the	DET
ftr-402	363	8	-	-	PUNCT
ftr-402	363	9	box	box	NOUN
ftr-402	363	10	was	be	AUX
ftr-402	363	11	implemented	implement	VERB
ftr-402	363	12	,	,	PUNCT
ftr-402	363	13	to	to	ADP
ftr-402	363	14	2002	2002	NUM
ftr-402	363	15	this	this	DET
ftr-402	363	16	inter	inter	ADJ
ftr-402	363	17	-	-	ADJ
ftr-402	363	18	company	company	ADJ
ftr-402	363	19	equity	equity	NOUN
ftr-402	363	20	income	income	NOUN
ftr-402	363	21	rose	rise	VERB
ftr-402	363	22	from	from	ADP
ftr-402	363	23	$	$	SYM
ftr-402	363	24	40.7	40.7	NUM
ftr-402	363	25	billion	billion	NUM
ftr-402	363	26	to	to	PART
ftr-402	363	27	$	$	SYM
ftr-402	363	28	120.8	120.8	NUM
ftr-402	363	29	billion	billion	NUM
ftr-402	363	30	.	.	PUNCT
ftr-402	364	1	indeed	indeed	ADV
ftr-402	364	2	,	,	PUNCT
ftr-402	364	3	table	table	NOUN
ftr-402	364	4	7	7	NUM
ftr-402	364	5	shows	show	VERB
ftr-402	364	6	that	that	SCONJ
ftr-402	364	7	almost	almost	ADV
ftr-402	364	8	100	100	NUM
ftr-402	364	9	%	%	NOUN
ftr-402	364	10	of	of	ADP
ftr-402	364	11	the	the	DET
ftr-402	364	12	growth	growth	NOUN
ftr-402	364	13	in	in	ADP
ftr-402	364	14	income	income	NOUN
ftr-402	364	15	in	in	ADP
ftr-402	364	16	the	the	DET
ftr-402	364	17	seven	seven	NUM
ftr-402	364	18	major	major	ADJ
ftr-402	364	19	low	low	ADJ
ftr-402	364	20	-	-	PUNCT
ftr-402	364	21	tax	tax	NOUN
ftr-402	364	22	countries	country	NOUN
ftr-402	364	23	(	(	PUNCT
ftr-402	364	24	bermuda	bermuda	PROPN
ftr-402	364	25	,	,	PUNCT
ftr-402	364	26	the	the	DET
ftr-402	364	27	cayman	cayman	PROPN
ftr-402	364	28	islands	islands	PROPN
ftr-402	364	29	,	,	PUNCT
ftr-402	364	30	ireland	ireland	PROPN
ftr-402	364	31	,	,	PUNCT
ftr-402	364	32	singapore	singapore	PROPN
ftr-402	364	33	,	,	PUNCT
ftr-402	364	34	the	the	DET
ftr-402	364	35	netherlands	netherlands	PROPN
ftr-402	364	36	,	,	PUNCT
ftr-402	364	37	luxembourg	luxembourg	PROPN
ftr-402	364	38	and	and	CCONJ
ftr-402	364	39	switzerland	switzerland	PROPN
ftr-402	364	40	)	)	PUNCT
ftr-402	364	41	from	from	ADP
ftr-402	364	42	1997	1997	NUM
ftr-402	364	43	to	to	ADP
ftr-402	364	44	2002	2002	NUM
ftr-402	364	45	can	can	AUX
ftr-402	364	46	be	be	AUX
ftr-402	364	47	accounted	account	VERB
ftr-402	364	48	for	for	ADP
ftr-402	364	49	by	by	ADP
ftr-402	364	50	this	this	DET
ftr-402	364	51	inter	inter	ADJ
ftr-402	364	52	-	-	ADJ
ftr-402	364	53	company	company	ADJ
ftr-402	364	54	equity	equity	NOUN
ftr-402	364	55	income	income	NOUN
ftr-402	364	56	.	.	PUNCT
ftr-402	365	1	it	it	PRON
ftr-402	365	2	is	be	AUX
ftr-402	365	3	difficult	difficult	ADJ
ftr-402	365	4	to	to	PART
ftr-402	365	5	interpret	interpret	VERB
ftr-402	365	6	the	the	DET
ftr-402	365	7	significance	significance	NOUN
ftr-402	365	8	of	of	ADP
ftr-402	365	9	this	this	DET
ftr-402	365	10	inter	inter	ADJ
ftr-402	365	11	-	-	ADJ
ftr-402	365	12	company	company	ADJ
ftr-402	365	13	equity	equity	NOUN
ftr-402	365	14	income	income	NOUN
ftr-402	365	15	for	for	ADP
ftr-402	365	16	worldwide	worldwide	ADJ
ftr-402	365	17	tax	tax	NOUN
ftr-402	365	18	payments	payment	NOUN
ftr-402	365	19	from	from	ADP
ftr-402	365	20	just	just	ADV
ftr-402	365	21	the	the	DET
ftr-402	365	22	affiliate	affiliate	NOUN
ftr-402	365	23	income	income	NOUN
ftr-402	365	24	data	datum	NOUN
ftr-402	365	25	alone	alone	ADV
ftr-402	365	26	.	.	PUNCT
ftr-402	366	1	it	it	PRON
ftr-402	366	2	could	could	AUX
ftr-402	366	3	just	just	ADV
ftr-402	366	4	represent	represent	VERB
ftr-402	366	5	inter	inter	ADJ
ftr-402	366	6	-	-	ADJ
ftr-402	366	7	company	company	ADJ
ftr-402	366	8	dividends	dividend	NOUN
ftr-402	366	9	paid	pay	VERB
ftr-402	366	10	up	up	ADP
ftr-402	366	11	to	to	ADP
ftr-402	366	12	holding	hold	VERB
ftr-402	366	13	companies	company	NOUN
ftr-402	366	14	.	.	PUNCT
ftr-402	367	1	in	in	ADP
ftr-402	367	2	that	that	DET
ftr-402	367	3	case	case	NOUN
ftr-402	367	4	the	the	DET
ftr-402	367	5	income	income	NOUN
ftr-402	367	6	paid	pay	VERB
ftr-402	367	7	out	out	ADP
ftr-402	367	8	by	by	ADP
ftr-402	367	9	the	the	DET
ftr-402	367	10	lower	low	ADJ
ftr-402	367	11	tier	tier	NOUN
ftr-402	367	12	company	company	NOUN
ftr-402	367	13	still	still	ADV
ftr-402	367	14	bears	bear	VERB
ftr-402	367	15	a	a	DET
ftr-402	367	16	tax	tax	NOUN
ftr-402	367	17	in	in	ADP
ftr-402	367	18	its	its	PRON
ftr-402	367	19	host	host	NOUN
ftr-402	367	20	country	country	NOUN
ftr-402	367	21	as	as	ADP
ftr-402	367	22	before	before	ADV
ftr-402	367	23	.	.	PUNCT
ftr-402	368	1	as	as	SCONJ
ftr-402	368	2	we	we	PRON
ftr-402	368	3	saw	see	VERB
ftr-402	368	4	in	in	ADP
ftr-402	368	5	the	the	DET
ftr-402	368	6	discussion	discussion	NOUN
ftr-402	368	7	of	of	ADP
ftr-402	368	8	hybrids	hybrid	NOUN
ftr-402	368	9	,	,	PUNCT
ftr-402	368	10	check	check	NOUN
ftr-402	368	11	-	-	PUNCT
ftr-402	368	12	the	the	DET
ftr-402	368	13	-	-	PUNCT
ftr-402	368	14	box	box	NOUN
ftr-402	368	15	makes	make	VERB
ftr-402	368	16	it	it	PRON
ftr-402	368	17	easier	easy	ADJ
ftr-402	368	18	to	to	PART
ftr-402	368	19	avoid	avoid	VERB
ftr-402	368	20	a	a	DET
ftr-402	368	21	current	current	ADJ
ftr-402	368	22	tax	tax	NOUN
ftr-402	368	23	on	on	ADP
ftr-402	368	24	inter	inter	ADJ
ftr-402	368	25	-	-	ADJ
ftr-402	368	26	company	company	ADJ
ftr-402	368	27	dividends	dividend	NOUN
ftr-402	368	28	under	under	ADP
ftr-402	368	29	the	the	DET
ftr-402	368	30	cfc	cfc	NOUN
ftr-402	368	31	rules	rule	NOUN
ftr-402	368	32	.	.	PUNCT
ftr-402	369	1	on	on	ADP
ftr-402	369	2	the	the	DET
ftr-402	369	3	other	other	ADJ
ftr-402	369	4	hand	hand	NOUN
ftr-402	369	5	,	,	PUNCT
ftr-402	369	6	these	these	DET
ftr-402	369	7	inter	inter	ADJ
ftr-402	369	8	-	-	ADJ
ftr-402	369	9	company	company	ADJ
ftr-402	369	10	payments	payment	NOUN
ftr-402	369	11	may	may	AUX
ftr-402	369	12	be	be	AUX
ftr-402	369	13	deductible	deductible	ADJ
ftr-402	369	14	in	in	ADP
ftr-402	369	15	the	the	DET
ftr-402	369	16	host	host	NOUN
ftr-402	369	17	country	country	NOUN
ftr-402	369	18	.	.	PUNCT
ftr-402	370	1	as	as	SCONJ
ftr-402	370	2	noted	note	VERB
ftr-402	370	3	above	above	ADV
ftr-402	370	4	,	,	PUNCT
ftr-402	370	5	if	if	SCONJ
ftr-402	370	6	the	the	DET
ftr-402	370	7	inter	inter	ADJ
ftr-402	370	8	-	-	ADJ
ftr-402	370	9	company	company	ADJ
ftr-402	370	10	payments	payment	NOUN
ftr-402	370	11	are	be	AUX
ftr-402	370	12	deductible	deductible	ADJ
ftr-402	370	13	,	,	PUNCT
ftr-402	370	14	then	then	ADV
ftr-402	370	15	any	any	DET
ftr-402	370	16	increased	increase	VERB
ftr-402	370	17	income	income	NOUN
ftr-402	370	18	in	in	ADP
ftr-402	370	19	the	the	DET
ftr-402	370	20	receiving	receive	VERB
ftr-402	370	21	country	country	NOUN
ftr-402	370	22	would	would	AUX
ftr-402	370	23	just	just	ADV
ftr-402	370	24	be	be	AUX
ftr-402	370	25	offset	offset	VERB
ftr-402	370	26	by	by	ADP
ftr-402	370	27	a	a	DET
ftr-402	370	28	reduction	reduction	NOUN
ftr-402	370	29	in	in	ADP
ftr-402	370	30	net	net	ADJ
ftr-402	370	31	income	income	NOUN
ftr-402	370	32	in	in	ADP
ftr-402	370	33	the	the	DET
ftr-402	370	34	paying	pay	VERB
ftr-402	370	35	country	country	NOUN
ftr-402	370	36	.	.	PUNCT
ftr-402	371	1	total	total	ADJ
ftr-402	371	2	affiliate	affiliate	NOUN
ftr-402	371	3	income	income	NOUN
ftr-402	371	4	2005	2005	NUM
ftr-402	371	5	]	]	PUNCT
ftr-402	371	6	the	the	DET
ftr-402	371	7	three	three	NUM
ftr-402	371	8	parties	party	NOUN
ftr-402	371	9	in	in	ADP
ftr-402	371	10	the	the	DET
ftr-402	371	11	race	race	NOUN
ftr-402	371	12	to	to	ADP
ftr-402	371	13	the	the	DET
ftr-402	371	14	bottom	bottom	ADJ
ftr-402	371	15	169	169	NUM
ftr-402	371	16	would	would	AUX
ftr-402	371	17	not	not	PART
ftr-402	371	18	increase	increase	VERB
ftr-402	371	19	.	.	PUNCT
ftr-402	372	1	but	but	CCONJ
ftr-402	372	2	if	if	SCONJ
ftr-402	372	3	the	the	DET
ftr-402	372	4	payments	payment	NOUN
ftr-402	372	5	are	be	AUX
ftr-402	372	6	nondeductible	nondeductible	ADJ
ftr-402	372	7	dividends	dividend	NOUN
ftr-402	372	8	,	,	PUNCT
ftr-402	372	9	there	there	PRON
ftr-402	372	10	would	would	AUX
ftr-402	372	11	be	be	AUX
ftr-402	372	12	an	an	DET
ftr-402	372	13	equivalent	equivalent	ADJ
ftr-402	372	14	increase	increase	NOUN
ftr-402	372	15	in	in	ADP
ftr-402	372	16	inter	inter	ADJ
ftr-402	372	17	-	-	ADJ
ftr-402	372	18	company	company	ADJ
ftr-402	372	19	income	income	NOUN
ftr-402	372	20	and	and	CCONJ
ftr-402	372	21	total	total	ADJ
ftr-402	372	22	,	,	PUNCT
ftr-402	372	23	double	double	ADJ
ftr-402	372	24	counting	counting	NOUN
ftr-402	372	25	distorted	distort	VERB
ftr-402	372	26	,	,	PUNCT
ftr-402	372	27	affiliate	affiliate	NOUN
ftr-402	372	28	income	income	NOUN
ftr-402	372	29	.	.	PUNCT
ftr-402	373	1	how	how	SCONJ
ftr-402	373	2	much	much	ADJ
ftr-402	373	3	of	of	ADP
ftr-402	373	4	the	the	DET
ftr-402	373	5	increase	increase	NOUN
ftr-402	373	6	in	in	ADP
ftr-402	373	7	affiliate	affiliate	NOUN
ftr-402	373	8	income	income	NOUN
ftr-402	373	9	is	be	AUX
ftr-402	373	10	associated	associate	VERB
ftr-402	373	11	with	with	ADP
ftr-402	373	12	deductible	deductible	ADJ
ftr-402	373	13	tax	tax	NOUN
ftr-402	373	14	payments	payment	NOUN
ftr-402	373	15	and	and	CCONJ
ftr-402	373	16	thus	thus	ADV
ftr-402	373	17	lower	low	ADJ
ftr-402	373	18	host	host	NOUN
ftr-402	373	19	country	country	NOUN
ftr-402	373	20	taxes	taxis	NOUN
ftr-402	373	21	?	?	PUNCT
ftr-402	374	1	to	to	PART
ftr-402	374	2	estimate	estimate	VERB
ftr-402	374	3	this	this	DET
ftr-402	374	4	breakdown	breakdown	NOUN
ftr-402	374	5	,	,	PUNCT
ftr-402	374	6	it	it	PRON
ftr-402	374	7	is	be	AUX
ftr-402	374	8	necessary	necessary	ADJ
ftr-402	374	9	to	to	PART
ftr-402	374	10	know	know	VERB
ftr-402	374	11	how	how	SCONJ
ftr-402	374	12	much	much	ADJ
ftr-402	374	13	total	total	ADJ
ftr-402	374	14	affiliate	affiliate	NOUN
ftr-402	374	15	income	income	NOUN
ftr-402	374	16	would	would	AUX
ftr-402	374	17	have	have	AUX
ftr-402	374	18	grown	grow	VERB
ftr-402	374	19	for	for	ADP
ftr-402	374	20	other	other	ADJ
ftr-402	374	21	reasons	reason	NOUN
ftr-402	374	22	,	,	PUNCT
ftr-402	374	23	unrelated	unrelated	ADJ
ftr-402	374	24	to	to	ADP
ftr-402	374	25	intercompany	intercompany	NOUN
ftr-402	374	26	income	income	NOUN
ftr-402	374	27	.	.	PUNCT
ftr-402	375	1	this	this	DET
ftr-402	375	2	puzzle	puzzle	NOUN
ftr-402	375	3	regarding	regard	VERB
ftr-402	375	4	deductible	deductible	ADJ
ftr-402	375	5	versus	versus	ADP
ftr-402	375	6	nondeductible	nondeductible	ADJ
ftr-402	375	7	payments	payment	NOUN
ftr-402	375	8	can	can	AUX
ftr-402	375	9	be	be	AUX
ftr-402	375	10	solved	solve	VERB
ftr-402	375	11	by	by	ADP
ftr-402	375	12	using	use	VERB
ftr-402	375	13	another	another	DET
ftr-402	375	14	bea	bea	PROPN
ftr-402	375	15	series	series	NOUN
ftr-402	375	16	,	,	PUNCT
ftr-402	375	17	“	"	PUNCT
ftr-402	375	18	foreign	foreign	ADJ
ftr-402	375	19	direct	direct	ADJ
ftr-402	375	20	investment	investment	NOUN
ftr-402	375	21	income	income	NOUN
ftr-402	375	22	”	"	PUNCT
ftr-402	375	23	which	which	PRON
ftr-402	375	24	is	be	AUX
ftr-402	375	25	computed	compute	VERB
ftr-402	375	26	for	for	ADP
ftr-402	375	27	the	the	DET
ftr-402	375	28	balance	balance	NOUN
ftr-402	375	29	of	of	ADP
ftr-402	375	30	payments	payment	NOUN
ftr-402	375	31	.	.	PUNCT
ftr-402	376	1	this	this	DET
ftr-402	376	2	income	income	NOUN
ftr-402	376	3	is	be	AUX
ftr-402	376	4	not	not	PART
ftr-402	376	5	double	double	ADV
ftr-402	376	6	counted	count	VERB
ftr-402	376	7	and	and	CCONJ
ftr-402	376	8	tells	tell	VERB
ftr-402	376	9	us	we	PRON
ftr-402	376	10	how	how	SCONJ
ftr-402	376	11	affiliate	affiliate	NOUN
ftr-402	376	12	net	net	ADJ
ftr-402	376	13	income	income	NOUN
ftr-402	376	14	evolves	evolves	AUX
ftr-402	376	15	unrelated	unrelated	ADJ
ftr-402	376	16	to	to	ADP
ftr-402	376	17	double	double	ADJ
ftr-402	376	18	counting	counting	NOUN
ftr-402	376	19	issues	issue	NOUN
ftr-402	376	20	.	.	PUNCT
ftr-402	377	1	the	the	DET
ftr-402	377	2	two	two	NUM
ftr-402	377	3	series	series	NOUN
ftr-402	377	4	do	do	AUX
ftr-402	377	5	not	not	PART
ftr-402	377	6	have	have	VERB
ftr-402	377	7	exactly	exactly	ADV
ftr-402	377	8	the	the	DET
ftr-402	377	9	same	same	ADJ
ftr-402	377	10	coverage	coverage	NOUN
ftr-402	377	11	because	because	SCONJ
ftr-402	377	12	the	the	DET
ftr-402	377	13	foreign	foreign	ADJ
ftr-402	377	14	direct	direct	ADJ
ftr-402	377	15	investment	investment	NOUN
ftr-402	377	16	(	(	PUNCT
ftr-402	377	17	fdi	fdi	NOUN
ftr-402	377	18	)	)	PUNCT
ftr-402	377	19	series	series	NOUN
ftr-402	377	20	includes	include	VERB
ftr-402	377	21	income	income	NOUN
ftr-402	377	22	earned	earn	VERB
ftr-402	377	23	by	by	ADP
ftr-402	377	24	affiliates	affiliate	NOUN
ftr-402	377	25	that	that	PRON
ftr-402	377	26	are	be	AUX
ftr-402	377	27	not	not	PART
ftr-402	377	28	majority	majority	NOUN
ftr-402	377	29	owned	own	VERB
ftr-402	377	30	.	.	PUNCT
ftr-402	378	1	however	however	ADV
ftr-402	378	2	,	,	PUNCT
ftr-402	378	3	the	the	DET
ftr-402	378	4	overwhelming	overwhelming	ADJ
ftr-402	378	5	component	component	NOUN
ftr-402	378	6	of	of	ADP
ftr-402	378	7	the	the	DET
ftr-402	378	8	fdi	fdi	NOUN
ftr-402	378	9	income	income	NOUN
ftr-402	378	10	is	be	AUX
ftr-402	378	11	the	the	DET
ftr-402	378	12	income	income	NOUN
ftr-402	378	13	of	of	ADP
ftr-402	378	14	majority	majority	NOUN
ftr-402	378	15	owned	own	VERB
ftr-402	378	16	affiliates	affiliate	NOUN
ftr-402	378	17	.	.	PUNCT
ftr-402	379	1	we	we	PRON
ftr-402	379	2	will	will	AUX
ftr-402	379	3	assume	assume	VERB
ftr-402	379	4	that	that	SCONJ
ftr-402	379	5	the	the	DET
ftr-402	379	6	share	share	NOUN
ftr-402	379	7	of	of	ADP
ftr-402	379	8	non	non	ADJ
ftr-402	379	9	-	-	ADJ
ftr-402	379	10	majority	majority	ADJ
ftr-402	379	11	owned	own	VERB
ftr-402	379	12	income	income	NOUN
ftr-402	379	13	in	in	ADP
ftr-402	379	14	the	the	DET
ftr-402	379	15	total	total	NOUN
ftr-402	379	16	remains	remain	VERB
ftr-402	379	17	constant	constant	ADJ
ftr-402	379	18	over	over	ADP
ftr-402	379	19	the	the	DET
ftr-402	379	20	1997	1997	NUM
ftr-402	379	21	to	to	ADP
ftr-402	379	22	2002	2002	NUM
ftr-402	379	23	period	period	NOUN
ftr-402	379	24	in	in	ADP
ftr-402	379	25	our	our	PRON
ftr-402	379	26	calculations	calculation	NOUN
ftr-402	379	27	.	.	PUNCT
ftr-402	380	1	in	in	ADP
ftr-402	380	2	1997	1997	NUM
ftr-402	380	3	,	,	PUNCT
ftr-402	380	4	total	total	ADJ
ftr-402	380	5	pre	pre	ADJ
ftr-402	380	6	-	-	ADJ
ftr-402	380	7	tax	tax	ADJ
ftr-402	380	8	affiliate	affiliate	NOUN
ftr-402	380	9	income	income	NOUN
ftr-402	380	10	(	(	PUNCT
ftr-402	380	11	from	from	ADP
ftr-402	380	12	the	the	DET
ftr-402	380	13	mofa	mofa	PROPN
ftr-402	380	14	data	data	PROPN
ftr-402	380	15	)	)	PUNCT
ftr-402	380	16	,	,	PUNCT
ftr-402	380	17	including	include	VERB
ftr-402	380	18	double	double	ADJ
ftr-402	380	19	counting	counting	NOUN
ftr-402	380	20	,	,	PUNCT
ftr-402	380	21	was	be	AUX
ftr-402	380	22	$	$	SYM
ftr-402	380	23	188.1	188.1	NUM
ftr-402	380	24	billion	billion	NUM
ftr-402	380	25	and	and	CCONJ
ftr-402	380	26	of	of	ADP
ftr-402	380	27	this	this	PRON
ftr-402	380	28	,	,	PUNCT
ftr-402	380	29	equity	equity	NOUN
ftr-402	380	30	income	income	NOUN
ftr-402	380	31	was	be	AUX
ftr-402	380	32	$	$	SYM
ftr-402	380	33	41.8	41.8	NUM
ftr-402	380	34	billion	billion	NUM
ftr-402	380	35	.	.	PUNCT
ftr-402	381	1	foreign	foreign	ADJ
ftr-402	381	2	direct	direct	ADJ
ftr-402	381	3	investment	investment	NOUN
ftr-402	381	4	income	income	NOUN
ftr-402	381	5	(	(	PUNCT
ftr-402	381	6	from	from	ADP
ftr-402	381	7	the	the	DET
ftr-402	381	8	fdi	fdi	NOUN
ftr-402	381	9	data	datum	NOUN
ftr-402	381	10	)	)	PUNCT
ftr-402	381	11	,	,	PUNCT
ftr-402	381	12	adjusted	adjust	VERB
ftr-402	381	13	for	for	ADP
ftr-402	381	14	host	host	NOUN
ftr-402	381	15	country	country	NOUN
ftr-402	381	16	corporate	corporate	ADJ
ftr-402	381	17	tax	tax	NOUN
ftr-402	381	18	(	(	PUNCT
ftr-402	381	19	from	from	ADP
ftr-402	381	20	the	the	DET
ftr-402	381	21	mofa	mofa	PROPN
ftr-402	381	22	data	data	PROPN
ftr-402	381	23	)	)	PUNCT
ftr-402	381	24	,	,	PUNCT
ftr-402	381	25	was	be	AUX
ftr-402	381	26	$	$	SYM
ftr-402	381	27	157.0	157.0	NUM
ftr-402	381	28	billion	billion	NUM
ftr-402	381	29	.	.	PUNCT
ftr-402	382	1	by	by	ADP
ftr-402	382	2	2002	2002	NUM
ftr-402	382	3	this	this	DET
ftr-402	382	4	foreign	foreign	ADJ
ftr-402	382	5	direct	direct	ADJ
ftr-402	382	6	investment	investment	NOUN
ftr-402	382	7	income	income	NOUN
ftr-402	382	8	had	have	AUX
ftr-402	382	9	increased	increase	VERB
ftr-402	382	10	to	to	ADP
ftr-402	382	11	$	$	SYM
ftr-402	382	12	174.3	174.3	NUM
ftr-402	382	13	billion	billion	NUM
ftr-402	382	14	,	,	PUNCT
ftr-402	382	15	or	or	CCONJ
ftr-402	382	16	by	by	ADP
ftr-402	382	17	11.02	11.02	NUM
ftr-402	382	18	%	%	NOUN
ftr-402	382	19	.	.	PUNCT
ftr-402	383	1	if	if	SCONJ
ftr-402	383	2	total	total	ADJ
ftr-402	383	3	affiliate	affiliate	NOUN
ftr-402	383	4	income	income	NOUN
ftr-402	383	5	and	and	CCONJ
ftr-402	383	6	equity	equity	NOUN
ftr-402	383	7	income	income	NOUN
ftr-402	383	8	had	have	AUX
ftr-402	383	9	continued	continue	VERB
ftr-402	383	10	to	to	PART
ftr-402	383	11	bear	bear	VERB
ftr-402	383	12	the	the	DET
ftr-402	383	13	same	same	ADJ
ftr-402	383	14	relationship	relationship	NOUN
ftr-402	383	15	to	to	ADP
ftr-402	383	16	foreign	foreign	ADJ
ftr-402	383	17	direct	direct	ADJ
ftr-402	383	18	investment	investment	NOUN
ftr-402	383	19	income	income	NOUN
ftr-402	383	20	as	as	ADP
ftr-402	383	21	in	in	ADP
ftr-402	383	22	1997	1997	NUM
ftr-402	383	23	,	,	PUNCT
ftr-402	383	24	total	total	ADJ
ftr-402	383	25	affiliate	affiliate	NOUN
ftr-402	383	26	income	income	NOUN
ftr-402	383	27	would	would	AUX
ftr-402	383	28	have	have	AUX
ftr-402	383	29	increased	increase	VERB
ftr-402	383	30	to	to	ADP
ftr-402	383	31	$	$	SYM
ftr-402	383	32	208.8	208.8	NUM
ftr-402	383	33	billion	billion	NUM
ftr-402	383	34	and	and	CCONJ
ftr-402	383	35	equity	equity	NOUN
ftr-402	383	36	income	income	NOUN
ftr-402	383	37	would	would	AUX
ftr-402	383	38	have	have	AUX
ftr-402	383	39	increased	increase	VERB
ftr-402	383	40	to	to	ADP
ftr-402	383	41	$	$	SYM
ftr-402	383	42	46.4	46.4	NUM
ftr-402	383	43	billion	billion	NUM
ftr-402	383	44	.	.	PUNCT
ftr-402	384	1	in	in	ADP
ftr-402	384	2	fact	fact	NOUN
ftr-402	384	3	inter	inter	ADJ
ftr-402	384	4	-	-	ADJ
ftr-402	384	5	company	company	ADJ
ftr-402	384	6	equity	equity	NOUN
ftr-402	384	7	income	income	NOUN
ftr-402	384	8	increased	increase	VERB
ftr-402	384	9	to	to	ADP
ftr-402	384	10	$	$	SYM
ftr-402	384	11	120.8	120.8	NUM
ftr-402	384	12	billion	billion	NUM
ftr-402	384	13	,	,	PUNCT
ftr-402	384	14	or	or	CCONJ
ftr-402	384	15	$	$	SYM
ftr-402	384	16	74.4	74.4	NUM
ftr-402	384	17	billion	billion	NUM
ftr-402	384	18	more	more	ADJ
ftr-402	384	19	than	than	SCONJ
ftr-402	384	20	projected	project	VERB
ftr-402	384	21	.	.	PUNCT
ftr-402	385	1	furthermore	furthermore	ADV
ftr-402	385	2	,	,	PUNCT
ftr-402	385	3	total	total	ADJ
ftr-402	385	4	affiliate	affiliate	NOUN
ftr-402	385	5	income	income	NOUN
ftr-402	385	6	rose	rise	VERB
ftr-402	385	7	to	to	ADP
ftr-402	385	8	$	$	SYM
ftr-402	385	9	255.2	255.2	NUM
ftr-402	385	10	billion	billion	NUM
ftr-402	385	11	,	,	PUNCT
ftr-402	385	12	$	$	SYM
ftr-402	385	13	46.4	46.4	NUM
ftr-402	385	14	billion	billion	NUM
ftr-402	385	15	more	more	ADJ
ftr-402	385	16	than	than	SCONJ
ftr-402	385	17	projected	project	VERB
ftr-402	385	18	if	if	SCONJ
ftr-402	385	19	the	the	DET
ftr-402	385	20	relationship	relationship	NOUN
ftr-402	385	21	to	to	ADP
ftr-402	385	22	foreign	foreign	ADJ
ftr-402	385	23	direct	direct	ADJ
ftr-402	385	24	investment	investment	NOUN
ftr-402	385	25	income	income	NOUN
ftr-402	385	26	had	have	AUX
ftr-402	385	27	remained	remain	VERB
ftr-402	385	28	unchanged	unchanged	ADJ
ftr-402	385	29	.	.	PUNCT
ftr-402	386	1	this	this	DET
ftr-402	386	2	$	$	SYM
ftr-402	386	3	46.4	46.4	NUM
ftr-402	386	4	billion	billion	NUM
ftr-402	386	5	of	of	ADP
ftr-402	386	6	“	"	PUNCT
ftr-402	386	7	excess	excess	ADJ
ftr-402	386	8	”	"	PUNCT
ftr-402	386	9	total	total	ADJ
ftr-402	386	10	affiliate	affiliate	NOUN
ftr-402	386	11	income	income	NOUN
ftr-402	386	12	represents	represent	VERB
ftr-402	386	13	“	"	PUNCT
ftr-402	386	14	true	true	ADJ
ftr-402	386	15	”	"	PUNCT
ftr-402	386	16	double	double	ADJ
ftr-402	386	17	counting	counting	NOUN
ftr-402	386	18	,	,	PUNCT
ftr-402	386	19	that	that	ADV
ftr-402	386	20	is	is	ADV
ftr-402	386	21	,	,	PUNCT
ftr-402	386	22	increased	increase	VERB
ftr-402	386	23	inter	inter	ADJ
ftr-402	386	24	-	-	ADJ
ftr-402	386	25	company	company	ADJ
ftr-402	386	26	equity	equity	NOUN
ftr-402	386	27	income	income	NOUN
ftr-402	386	28	that	that	PRON
ftr-402	386	29	is	be	AUX
ftr-402	386	30	not	not	PART
ftr-402	386	31	offset	offset	VERB
ftr-402	386	32	by	by	ADP
ftr-402	386	33	a	a	DET
ftr-402	386	34	reduction	reduction	NOUN
ftr-402	386	35	in	in	ADP
ftr-402	386	36	net	net	ADJ
ftr-402	386	37	income	income	NOUN
ftr-402	386	38	in	in	ADP
ftr-402	386	39	the	the	DET
ftr-402	386	40	paying	pay	VERB
ftr-402	386	41	country	country	NOUN
ftr-402	386	42	.	.	PUNCT
ftr-402	387	1	accordingly	accordingly	ADV
ftr-402	387	2	,	,	PUNCT
ftr-402	387	3	46.4/74.4	46.4/74.4	PROPN
ftr-402	387	4	,	,	PUNCT
ftr-402	387	5	or	or	CCONJ
ftr-402	387	6	62.3	62.3	NUM
ftr-402	387	7	%	%	NOUN
ftr-402	387	8	of	of	ADP
ftr-402	387	9	the	the	DET
ftr-402	387	10	greater	great	ADJ
ftr-402	387	11	than	than	SCONJ
ftr-402	387	12	expected	expect	VERB
ftr-402	387	13	increase	increase	NOUN
ftr-402	387	14	in	in	ADP
ftr-402	387	15	equity	equity	NOUN
ftr-402	387	16	income	income	NOUN
ftr-402	387	17	represents	represent	VERB
ftr-402	387	18	double	double	ADJ
ftr-402	387	19	counting	counting	NOUN
ftr-402	387	20	.	.	PUNCT
ftr-402	388	1	our	our	PRON
ftr-402	388	2	calculation	calculation	NOUN
ftr-402	388	3	leaves	leave	VERB
ftr-402	388	4	$	$	SYM
ftr-402	388	5	28	28	NUM
ftr-402	388	6	billion	billion	NUM
ftr-402	388	7	of	of	ADP
ftr-402	388	8	inter	inter	ADJ
ftr-402	388	9	-	-	ADJ
ftr-402	388	10	company	company	ADJ
ftr-402	388	11	income	income	NOUN
ftr-402	388	12	that	that	PRON
ftr-402	388	13	was	be	AUX
ftr-402	388	14	apparently	apparently	ADV
ftr-402	388	15	deductible	deductible	ADJ
ftr-402	388	16	by	by	ADP
ftr-402	388	17	the	the	DET
ftr-402	388	18	paying	pay	VERB
ftr-402	388	19	company	company	NOUN
ftr-402	388	20	.	.	PUNCT
ftr-402	389	1	to	to	PART
ftr-402	389	2	estimate	estimate	VERB
ftr-402	389	3	the	the	DET
ftr-402	389	4	amount	amount	NOUN
ftr-402	389	5	of	of	ADP
ftr-402	389	6	tax	tax	NOUN
ftr-402	389	7	saving	saving	NOUN
ftr-402	389	8	,	,	PUNCT
ftr-402	389	9	we	we	PRON
ftr-402	389	10	assume	assume	VERB
ftr-402	389	11	an	an	DET
ftr-402	389	12	average	average	ADJ
ftr-402	389	13	tax	tax	NOUN
ftr-402	389	14	rate	rate	NOUN
ftr-402	389	15	of	of	ADP
ftr-402	389	16	25	25	NUM
ftr-402	389	17	%	%	NOUN
ftr-402	389	18	in	in	ADP
ftr-402	389	19	the	the	DET
ftr-402	389	20	paying	pay	VERB
ftr-402	389	21	corporation	corporation	NOUN
ftr-402	389	22	’s	’s	PART
ftr-402	389	23	country	country	NOUN
ftr-402	389	24	and	and	CCONJ
ftr-402	389	25	no	no	DET
ftr-402	389	26	tax	tax	NOUN
ftr-402	389	27	in	in	ADP
ftr-402	389	28	the	the	DET
ftr-402	389	29	receiving	receive	VERB
ftr-402	389	30	company	company	NOUN
ftr-402	389	31	’s	’s	PART
ftr-402	389	32	country	country	NOUN
ftr-402	389	33	,	,	PUNCT
ftr-402	389	34	either	either	CCONJ
ftr-402	389	35	because	because	SCONJ
ftr-402	389	36	it	it	PRON
ftr-402	389	37	is	be	AUX
ftr-402	389	38	a	a	DET
ftr-402	389	39	tax	tax	NOUN
ftr-402	389	40	haven	haven	NOUN
ftr-402	389	41	or	or	CCONJ
ftr-402	389	42	has	have	VERB
ftr-402	389	43	a	a	DET
ftr-402	389	44	dividend	dividend	NOUN
ftr-402	389	45	exemption	exemption	NOUN
ftr-402	389	46	system	system	NOUN
ftr-402	389	47	in	in	ADP
ftr-402	389	48	which	which	PRON
ftr-402	389	49	hybrid	hybrid	ADJ
ftr-402	389	50	securities	security	NOUN
ftr-402	389	51	can	can	AUX
ftr-402	389	52	be	be	AUX
ftr-402	389	53	used	use	VERB
ftr-402	389	54	.	.	PUNCT
ftr-402	390	1	we	we	PRON
ftr-402	390	2	also	also	ADV
ftr-402	390	3	assume	assume	VERB
ftr-402	390	4	that	that	SCONJ
ftr-402	390	5	the	the	DET
ftr-402	390	6	book	book	NOUN
ftr-402	390	7	income	income	NOUN
ftr-402	390	8	data	datum	NOUN
ftr-402	390	9	reported	report	VERB
ftr-402	390	10	to	to	ADP
ftr-402	390	11	bea	bea	PROPN
ftr-402	390	12	is	be	AUX
ftr-402	390	13	consistent	consistent	ADJ
ftr-402	390	14	with	with	ADP
ftr-402	390	15	the	the	DET
ftr-402	390	16	taxable	taxable	ADJ
ftr-402	390	17	income	income	NOUN
ftr-402	390	18	reported	report	VERB
ftr-402	390	19	to	to	ADP
ftr-402	390	20	the	the	DET
ftr-402	390	21	respective	respective	ADJ
ftr-402	390	22	governments	government	NOUN
ftr-402	390	23	.	.	PUNCT
ftr-402	391	1	accordingly	accordingly	ADV
ftr-402	391	2	we	we	PRON
ftr-402	391	3	estimate	estimate	VERB
ftr-402	391	4	that	that	SCONJ
ftr-402	391	5	these	these	DET
ftr-402	391	6	arrangements	arrangement	NOUN
ftr-402	391	7	have	have	AUX
ftr-402	391	8	generated	generate	VERB
ftr-402	391	9	an	an	DET
ftr-402	391	10	annual	annual	ADJ
ftr-402	391	11	foreign	foreign	ADJ
ftr-402	391	12	tax	tax	NOUN
ftr-402	391	13	saving	saving	NOUN
ftr-402	391	14	of	of	ADP
ftr-402	391	15	approximately	approximately	ADV
ftr-402	391	16	$	$	SYM
ftr-402	391	17	7	7	NUM
ftr-402	391	18	billion	billion	NUM
ftr-402	391	19	in	in	ADP
ftr-402	391	20	2002	2002	NUM
ftr-402	391	21	,	,	PUNCT
ftr-402	391	22	or	or	CCONJ
ftr-402	391	23	about	about	ADV
ftr-402	391	24	4	4	NUM
ftr-402	391	25	%	%	NOUN
ftr-402	391	26	of	of	ADP
ftr-402	391	27	total	total	ADJ
ftr-402	391	28	foreign	foreign	ADJ
ftr-402	391	29	affiliate	affiliate	NOUN
ftr-402	391	30	income	income	NOUN
ftr-402	391	31	reported	report	VERB
ftr-402	391	32	in	in	ADP
ftr-402	391	33	the	the	DET
ftr-402	391	34	mofa	mofa	PROPN
ftr-402	391	35	data	data	PROPN
ftr-402	391	36	.	.	PUNCT
ftr-402	392	1	170	170	NUM
ftr-402	392	2	florida	florida	PROPN
ftr-402	392	3	tax	tax	NOUN
ftr-402	392	4	review	review	NOUN
ftr-402	392	5	[	[	X
ftr-402	392	6	vol.7:3	vol.7:3	NOUN
ftr-402	392	7	x.	x.	NOUN
ftr-402	392	8	conclusion	conclusion	VERB
ftr-402	392	9	the	the	DET
ftr-402	392	10	various	various	ADJ
ftr-402	392	11	types	type	NOUN
ftr-402	392	12	of	of	ADP
ftr-402	392	13	evidence	evidence	NOUN
ftr-402	392	14	used	use	VERB
ftr-402	392	15	in	in	ADP
ftr-402	392	16	this	this	DET
ftr-402	392	17	paper	paper	NOUN
ftr-402	392	18	show	show	VERB
ftr-402	392	19	the	the	DET
ftr-402	392	20	role	role	NOUN
ftr-402	392	21	of	of	ADP
ftr-402	392	22	the	the	DET
ftr-402	392	23	various	various	ADJ
ftr-402	392	24	parties	party	NOUN
ftr-402	392	25	in	in	ADP
ftr-402	392	26	the	the	DET
ftr-402	392	27	decline	decline	NOUN
ftr-402	392	28	of	of	ADP
ftr-402	392	29	tax	tax	NOUN
ftr-402	392	30	burdens	burden	NOUN
ftr-402	392	31	on	on	ADP
ftr-402	392	32	multinational	multinational	ADJ
ftr-402	392	33	companies	company	NOUN
ftr-402	392	34	from	from	ADP
ftr-402	392	35	1992	1992	NUM
ftr-402	392	36	to	to	ADP
ftr-402	392	37	2002	2002	NUM
ftr-402	392	38	.	.	PUNCT
ftr-402	393	1	in	in	ADP
ftr-402	393	2	the	the	DET
ftr-402	393	3	early	early	ADJ
ftr-402	393	4	part	part	NOUN
ftr-402	393	5	of	of	ADP
ftr-402	393	6	the	the	DET
ftr-402	393	7	period	period	NOUN
ftr-402	393	8	,	,	PUNCT
ftr-402	393	9	from	from	ADP
ftr-402	393	10	1992	1992	NUM
ftr-402	393	11	to	to	ADP
ftr-402	393	12	1998	1998	NUM
ftr-402	393	13	,	,	PUNCT
ftr-402	393	14	the	the	DET
ftr-402	393	15	decline	decline	NOUN
ftr-402	393	16	in	in	ADP
ftr-402	393	17	tax	tax	NOUN
ftr-402	393	18	burdens	burden	NOUN
ftr-402	393	19	seemed	seemed	AUX
ftr-402	393	20	primarily	primarily	ADV
ftr-402	393	21	driven	drive	VERB
ftr-402	393	22	by	by	ADP
ftr-402	393	23	the	the	DET
ftr-402	393	24	host	host	NOUN
ftr-402	393	25	countries	country	NOUN
ftr-402	393	26	’	'	PUNCT
ftr-402	393	27	desire	desire	NOUN
ftr-402	393	28	to	to	PART
ftr-402	393	29	compete	compete	VERB
ftr-402	393	30	and	and	CCONJ
ftr-402	393	31	defend	defend	VERB
ftr-402	393	32	their	their	PRON
ftr-402	393	33	market	market	NOUN
ftr-402	393	34	share	share	NOUN
ftr-402	393	35	.	.	PUNCT
ftr-402	394	1	from	from	ADP
ftr-402	394	2	1998	1998	NUM
ftr-402	394	3	onwards	onwards	ADP
ftr-402	394	4	the	the	DET
ftr-402	394	5	tax	tax	NOUN
ftr-402	394	6	planning	planning	NOUN
ftr-402	394	7	by	by	ADP
ftr-402	394	8	the	the	DET
ftr-402	394	9	companies	company	NOUN
ftr-402	394	10	seems	seem	VERB
ftr-402	394	11	much	much	ADV
ftr-402	394	12	more	more	ADV
ftr-402	394	13	significant	significant	ADJ
ftr-402	394	14	,	,	PUNCT
ftr-402	394	15	facilitated	facilitate	VERB
ftr-402	394	16	by	by	ADP
ftr-402	394	17	more	more	ADV
ftr-402	394	18	permissive	permissive	ADJ
ftr-402	394	19	u.s	u.s	PROPN
ftr-402	394	20	.	.	PROPN
ftr-402	394	21	rules	rule	NOUN
ftr-402	394	22	introduced	introduce	VERB
ftr-402	394	23	in	in	ADP
ftr-402	394	24	1997	1997	NUM
ftr-402	394	25	.	.	PUNCT
ftr-402	395	1	high	high	ADJ
ftr-402	395	2	-	-	PUNCT
ftr-402	395	3	tax	tax	NOUN
ftr-402	395	4	host	host	NOUN
ftr-402	395	5	countries	country	NOUN
ftr-402	395	6	had	have	VERB
ftr-402	395	7	to	to	PART
ftr-402	395	8	acquiesce	acquiesce	VERB
ftr-402	395	9	in	in	ADP
ftr-402	395	10	this	this	DET
ftr-402	395	11	income	income	NOUN
ftr-402	395	12	shifting	shift	VERB
ftr-402	395	13	,	,	PUNCT
ftr-402	395	14	perhaps	perhaps	ADV
ftr-402	395	15	because	because	SCONJ
ftr-402	395	16	it	it	PRON
ftr-402	395	17	was	be	AUX
ftr-402	395	18	a	a	DET
ftr-402	395	19	way	way	NOUN
ftr-402	395	20	of	of	ADP
ftr-402	395	21	favoring	favor	VERB
ftr-402	395	22	more	more	ADJ
ftr-402	395	23	mobile	mobile	ADJ
ftr-402	395	24	capital	capital	NOUN
ftr-402	395	25	.	.	PUNCT
ftr-402	396	1	the	the	DET
ftr-402	396	2	results	result	NOUN
ftr-402	396	3	illustrate	illustrate	VERB
ftr-402	396	4	the	the	DET
ftr-402	396	5	importance	importance	NOUN
ftr-402	396	6	of	of	ADP
ftr-402	396	7	including	include	VERB
ftr-402	396	8	both	both	DET
ftr-402	396	9	company	company	NOUN
ftr-402	396	10	tax	tax	NOUN
ftr-402	396	11	planning	planning	NOUN
ftr-402	396	12	and	and	CCONJ
ftr-402	396	13	the	the	DET
ftr-402	396	14	cooperation	cooperation	NOUN
ftr-402	396	15	of	of	ADP
ftr-402	396	16	home	home	NOUN
ftr-402	396	17	and	and	CCONJ
ftr-402	396	18	host	host	NOUN
ftr-402	396	19	governments	government	NOUN
ftr-402	396	20	in	in	ADP
ftr-402	396	21	an	an	DET
ftr-402	396	22	accurate	accurate	ADJ
ftr-402	396	23	depiction	depiction	NOUN
ftr-402	396	24	of	of	ADP
ftr-402	396	25	any	any	DET
ftr-402	396	26	race	race	NOUN
ftr-402	396	27	to	to	ADP
ftr-402	396	28	the	the	DET
ftr-402	396	29	bottom	bottom	NOUN
ftr-402	396	30	.	.	PUNCT
ftr-402	397	1	for	for	ADP
ftr-402	397	2	example	example	NOUN
ftr-402	397	3	,	,	PUNCT
ftr-402	397	4	we	we	PRON
ftr-402	397	5	estimate	estimate	VERB
ftr-402	397	6	that	that	SCONJ
ftr-402	397	7	in	in	ADP
ftr-402	397	8	2002	2002	NUM
ftr-402	397	9	u.s	u.s	PROPN
ftr-402	397	10	.	.	PROPN
ftr-402	397	11	companies	company	NOUN
ftr-402	397	12	paid	pay	VERB
ftr-402	397	13	$	$	SYM
ftr-402	397	14	7	7	NUM
ftr-402	397	15	billion	billion	NUM
ftr-402	397	16	less	less	ADJ
ftr-402	397	17	in	in	ADP
ftr-402	397	18	host	host	NOUN
ftr-402	397	19	country	country	NOUN
ftr-402	397	20	taxes	taxis	NOUN
ftr-402	397	21	compared	compare	VERB
ftr-402	397	22	to	to	ADP
ftr-402	397	23	1997	1997	NUM
ftr-402	397	24	by	by	ADP
ftr-402	397	25	using	use	VERB
ftr-402	397	26	intercompany	intercompany	NOUN
ftr-402	397	27	payments	payment	NOUN
ftr-402	397	28	deductible	deductible	ADJ
ftr-402	397	29	in	in	ADP
ftr-402	397	30	the	the	DET
ftr-402	397	31	paying	pay	VERB
ftr-402	397	32	country	country	NOUN
ftr-402	397	33	but	but	CCONJ
ftr-402	397	34	exempt	exempt	ADJ
ftr-402	397	35	from	from	ADP
ftr-402	397	36	tax	tax	NOUN
ftr-402	397	37	in	in	ADP
ftr-402	397	38	the	the	DET
ftr-402	397	39	recipient	recipient	NOUN
ftr-402	397	40	.	.	PUNCT
ftr-402	398	1	this	this	PRON
ftr-402	398	2	amounted	amount	VERB
ftr-402	398	3	to	to	ADP
ftr-402	398	4	about	about	ADV
ftr-402	398	5	4	4	NUM
ftr-402	398	6	%	%	NOUN
ftr-402	398	7	of	of	ADP
ftr-402	398	8	total	total	ADJ
ftr-402	398	9	direct	direct	ADJ
ftr-402	398	10	investment	investment	NOUN
ftr-402	398	11	income	income	NOUN
ftr-402	398	12	,	,	PUNCT
ftr-402	398	13	a	a	DET
ftr-402	398	14	substantial	substantial	ADJ
ftr-402	398	15	reduction	reduction	NOUN
ftr-402	398	16	in	in	ADP
ftr-402	398	17	such	such	DET
ftr-402	398	18	a	a	DET
ftr-402	398	19	short	short	ADJ
ftr-402	398	20	period	period	NOUN
ftr-402	398	21	.	.	PUNCT
ftr-402	399	1	2005	2005	NUM
ftr-402	399	2	]	]	PUNCT
ftr-402	399	3	the	the	DET
ftr-402	399	4	three	three	NUM
ftr-402	399	5	parties	party	NOUN
ftr-402	399	6	in	in	ADP
ftr-402	399	7	the	the	DET
ftr-402	399	8	race	race	NOUN
ftr-402	399	9	to	to	ADP
ftr-402	399	10	the	the	DET
ftr-402	399	11	bottom	bottom	ADJ
ftr-402	399	12	171	171	NUM
ftr-402	399	13	references	reference	NOUN
ftr-402	399	14	altshuler	altshuler	NOUN
ftr-402	399	15	,	,	PUNCT
ftr-402	399	16	rosanne	rosanne	NOUN
ftr-402	399	17	,	,	PUNCT
ftr-402	399	18	and	and	CCONJ
ftr-402	399	19	harry	harry	PROPN
ftr-402	399	20	grubert	grubert	PROPN
ftr-402	399	21	.	.	PUNCT
ftr-402	399	22	2003	2003	NUM
ftr-402	399	23	,	,	PUNCT
ftr-402	399	24	“	"	PUNCT
ftr-402	399	25	repatriation	repatriation	NOUN
ftr-402	399	26	taxes	taxis	NOUN
ftr-402	399	27	,	,	PUNCT
ftr-402	399	28	repatriation	repatriation	NOUN
ftr-402	399	29	strategies	strategy	NOUN
ftr-402	399	30	,	,	PUNCT
ftr-402	399	31	and	and	CCONJ
ftr-402	399	32	multinational	multinational	ADJ
ftr-402	399	33	financial	financial	ADJ
ftr-402	399	34	policy	policy	NOUN
ftr-402	399	35	.	.	PUNCT
ftr-402	399	36	”	"	PUNCT
ftr-402	400	1	journal	journal	NOUN
ftr-402	400	2	of	of	ADP
ftr-402	400	3	public	public	ADJ
ftr-402	400	4	economics	economic	NOUN
ftr-402	400	5	87	87	NUM
ftr-402	400	6	no.1	no.1	NOUN
ftr-402	400	7	:	:	PUNCT
ftr-402	400	8	73	73	NUM
ftr-402	400	9	-	-	SYM
ftr-402	400	10	107	107	NUM
ftr-402	400	11	.	.	PUNCT
ftr-402	401	1	altshuler	altshuler	PROPN
ftr-402	401	2	,	,	PUNCT
ftr-402	401	3	rosanne	rosanne	PROPN
ftr-402	401	4	and	and	CCONJ
ftr-402	401	5	harry	harry	PROPN
ftr-402	401	6	grubert	grubert	PROPN
ftr-402	401	7	,	,	PUNCT
ftr-402	401	8	2004	2004	NUM
ftr-402	401	9	,	,	PUNCT
ftr-402	401	10	“	"	PUNCT
ftr-402	401	11	taxpayer	taxpayer	NOUN
ftr-402	401	12	responses	response	NOUN
ftr-402	401	13	to	to	ADP
ftr-402	401	14	competitive	competitive	ADJ
ftr-402	401	15	tax	tax	NOUN
ftr-402	401	16	policies	policy	NOUN
ftr-402	401	17	and	and	CCONJ
ftr-402	401	18	tax	tax	NOUN
ftr-402	401	19	policy	policy	NOUN
ftr-402	401	20	responses	response	NOUN
ftr-402	401	21	to	to	ADP
ftr-402	401	22	competitive	competitive	ADJ
ftr-402	401	23	taxpayers	taxpayer	NOUN
ftr-402	401	24	:	:	PUNCT
ftr-402	401	25	recent	recent	ADJ
ftr-402	401	26	evidence	evidence	NOUN
ftr-402	401	27	,	,	PUNCT
ftr-402	401	28	”	"	PUNCT
ftr-402	401	29	tax	tax	NOUN
ftr-402	401	30	notes	note	NOUN
ftr-402	401	31	international	international	ADJ
ftr-402	401	32	,	,	PUNCT
ftr-402	401	33	june	june	PROPN
ftr-402	401	34	28	28	NUM
ftr-402	401	35	,	,	PUNCT
ftr-402	401	36	vol	vol	NOUN
ftr-402	401	37	.	.	PUNCT
ftr-402	402	1	34	34	NUM
ftr-402	402	2	:	:	SYM
ftr-402	402	3	1349	1349	NUM
ftr-402	402	4	-	-	SYM
ftr-402	402	5	1362	1362	NUM
ftr-402	402	6	.	.	PUNCT
ftr-402	403	1	altshuler	altshuler	PROPN
ftr-402	403	2	,	,	PUNCT
ftr-402	403	3	rosanne	rosanne	PROPN
ftr-402	403	4	,	,	PUNCT
ftr-402	403	5	harry	harry	PROPN
ftr-402	403	6	grubert	grubert	PROPN
ftr-402	403	7	,	,	PUNCT
ftr-402	403	8	and	and	CCONJ
ftr-402	403	9	t.	t.	PROPN
ftr-402	403	10	scott	scott	PROPN
ftr-402	403	11	newlon	newlon	PROPN
ftr-402	403	12	,	,	PUNCT
ftr-402	403	13	2001	2001	NUM
ftr-402	403	14	,	,	PUNCT
ftr-402	403	15	“	"	PUNCT
ftr-402	403	16	has	have	AUX
ftr-402	403	17	u.s	u.s	PROPN
ftr-402	403	18	.	.	PROPN
ftr-402	403	19	investment	investment	NOUN
ftr-402	403	20	abroad	abroad	ADV
ftr-402	403	21	become	become	VERB
ftr-402	403	22	more	more	ADV
ftr-402	403	23	sensitive	sensitive	ADJ
ftr-402	403	24	to	to	ADP
ftr-402	403	25	tax	tax	NOUN
ftr-402	403	26	rates	rate	NOUN
ftr-402	403	27	?	?	PUNCT
ftr-402	403	28	”	"	PUNCT
ftr-402	404	1	in	in	ADP
ftr-402	404	2	:	:	PUNCT
ftr-402	404	3	james	james	PROPN
ftr-402	404	4	r.	r.	PROPN
ftr-402	404	5	hines	hines	PROPN
ftr-402	404	6	,	,	PUNCT
ftr-402	404	7	jr	jr	PROPN
ftr-402	404	8	.	.	PROPN
ftr-402	404	9	(	(	PUNCT
ftr-402	404	10	editor	editor	NOUN
ftr-402	404	11	)	)	PUNCT
ftr-402	404	12	,	,	PUNCT
ftr-402	404	13	international	international	ADJ
ftr-402	404	14	taxation	taxation	NOUN
ftr-402	404	15	and	and	CCONJ
ftr-402	404	16	multinational	multinational	ADJ
ftr-402	404	17	activity	activity	NOUN
ftr-402	404	18	,	,	PUNCT
ftr-402	404	19	university	university	NOUN
ftr-402	404	20	of	of	ADP
ftr-402	404	21	chicago	chicago	PROPN
ftr-402	404	22	press	press	NOUN
ftr-402	404	23	,	,	PUNCT
ftr-402	404	24	9	9	NUM
ftr-402	404	25	-	-	SYM
ftr-402	404	26	32	32	NUM
ftr-402	404	27	.	.	PUNCT
ftr-402	404	28	borga	borga	PROPN
ftr-402	404	29	,	,	PUNCT
ftr-402	404	30	maria	maria	PROPN
ftr-402	404	31	and	and	CCONJ
ftr-402	404	32	raymond	raymond	PROPN
ftr-402	404	33	mataloni	mataloni	PROPN
ftr-402	404	34	,	,	PUNCT
ftr-402	404	35	2001	2001	NUM
ftr-402	404	36	,	,	PUNCT
ftr-402	404	37	“	"	PUNCT
ftr-402	404	38	direct	direct	ADJ
ftr-402	404	39	investment	investment	NOUN
ftr-402	404	40	positions	position	NOUN
ftr-402	404	41	for	for	ADP
ftr-402	404	42	2000	2000	NUM
ftr-402	404	43	”	"	PUNCT
ftr-402	404	44	survey	survey	NOUN
ftr-402	404	45	of	of	ADP
ftr-402	404	46	current	current	ADJ
ftr-402	404	47	business	business	NOUN
ftr-402	404	48	,	,	PUNCT
ftr-402	404	49	vol	vol	NOUN
ftr-402	404	50	.	.	PROPN
ftr-402	404	51	81	81	NUM
ftr-402	404	52	:	:	PUNCT
ftr-402	404	53	16	16	NUM
ftr-402	404	54	-	-	SYM
ftr-402	404	55	29	29	NUM
ftr-402	404	56	.	.	PUNCT
ftr-402	404	57	grubert	grubert	PROPN
ftr-402	404	58	,	,	PUNCT
ftr-402	404	59	harry	harry	PROPN
ftr-402	404	60	,	,	PUNCT
ftr-402	404	61	2001	2001	NUM
ftr-402	404	62	,	,	PUNCT
ftr-402	404	63	“	"	PUNCT
ftr-402	404	64	tax	tax	NOUN
ftr-402	404	65	planning	planning	NOUN
ftr-402	404	66	by	by	ADP
ftr-402	404	67	companies	company	NOUN
ftr-402	404	68	and	and	CCONJ
ftr-402	404	69	tax	tax	NOUN
ftr-402	404	70	competition	competition	NOUN
ftr-402	404	71	by	by	ADP
ftr-402	404	72	governments	government	NOUN
ftr-402	404	73	:	:	PUNCT
ftr-402	404	74	is	be	AUX
ftr-402	404	75	there	there	PRON
ftr-402	404	76	evidence	evidence	NOUN
ftr-402	404	77	of	of	ADP
ftr-402	404	78	changes	change	NOUN
ftr-402	404	79	in	in	ADP
ftr-402	404	80	behavior	behavior	NOUN
ftr-402	404	81	?	?	PUNCT
ftr-402	404	82	”	"	PUNCT
ftr-402	405	1	in	in	ADP
ftr-402	405	2	:	:	PUNCT
ftr-402	405	3	james	james	PROPN
ftr-402	405	4	r.	r.	PROPN
ftr-402	405	5	hines	hines	PROPN
ftr-402	405	6	,	,	PUNCT
ftr-402	405	7	jr	jr	PROPN
ftr-402	405	8	.	.	PROPN
ftr-402	405	9	(	(	PUNCT
ftr-402	405	10	editor	editor	NOUN
ftr-402	405	11	)	)	PUNCT
ftr-402	405	12	,	,	PUNCT
ftr-402	405	13	international	international	ADJ
ftr-402	405	14	taxation	taxation	NOUN
ftr-402	405	15	and	and	CCONJ
ftr-402	405	16	multinational	multinational	ADJ
ftr-402	405	17	activity	activity	NOUN
ftr-402	405	18	,	,	PUNCT
ftr-402	405	19	university	university	NOUN
ftr-402	405	20	of	of	ADP
ftr-402	405	21	chicago	chicago	PROPN
ftr-402	405	22	press	press	NOUN
ftr-402	405	23	:	:	PUNCT
ftr-402	405	24	113	113	NUM
ftr-402	405	25	-	-	SYM
ftr-402	405	26	139	139	NUM
ftr-402	405	27	.	.	PUNCT
ftr-402	405	28	grubert	grubert	PROPN
ftr-402	405	29	,	,	PUNCT
ftr-402	405	30	harry	harry	PROPN
ftr-402	405	31	,	,	PUNCT
ftr-402	405	32	2004	2004	NUM
ftr-402	405	33	,	,	PUNCT
ftr-402	405	34	“	"	PUNCT
ftr-402	405	35	the	the	DET
ftr-402	405	36	tax	tax	NOUN
ftr-402	405	37	burden	burden	NOUN
ftr-402	405	38	on	on	ADP
ftr-402	405	39	cross	cross	ADJ
ftr-402	405	40	-	-	ADJ
ftr-402	405	41	border	border	ADJ
ftr-402	405	42	investment	investment	NOUN
ftr-402	405	43	:	:	PUNCT
ftr-402	405	44	company	company	NOUN
ftr-402	405	45	strategies	strategy	NOUN
ftr-402	405	46	and	and	CCONJ
ftr-402	405	47	country	country	NOUN
ftr-402	405	48	responses	response	NOUN
ftr-402	405	49	.	.	PUNCT
ftr-402	405	50	”	"	PUNCT
ftr-402	406	1	in	in	ADP
ftr-402	406	2	:	:	PUNCT
ftr-402	406	3	measuring	measure	VERB
ftr-402	406	4	the	the	DET
ftr-402	406	5	tax	tax	NOUN
ftr-402	406	6	burden	burden	NOUN
ftr-402	406	7	on	on	ADP
ftr-402	406	8	labor	labor	NOUN
ftr-402	406	9	and	and	CCONJ
ftr-402	406	10	capital	capital	NOUN
ftr-402	406	11	,	,	PUNCT
ftr-402	406	12	edited	edit	VERB
ftr-402	406	13	by	by	ADP
ftr-402	406	14	peter	peter	PROPN
ftr-402	406	15	birch	birch	PROPN
ftr-402	406	16	sorensen	sorensen	PROPN
ftr-402	406	17	.	.	PROPN
ftr-402	406	18	cambridge	cambridge	PROPN
ftr-402	406	19	,	,	PUNCT
ftr-402	406	20	massachusetts	massachusetts	PROPN
ftr-402	406	21	:	:	PUNCT
ftr-402	406	22	mit	mit	PROPN
ftr-402	406	23	press	press	NOUN
ftr-402	406	24	(	(	PUNCT
ftr-402	406	25	cesifo	cesifo	PROPN
ftr-402	406	26	seminar	seminar	NOUN
ftr-402	406	27	series	series	NOUN
ftr-402	406	28	):	):	PUNCT
ftr-402	406	29	129	129	NUM
ftr-402	406	30	-	-	SYM
ftr-402	406	31	170	170	NUM
ftr-402	406	32	.	.	PUNCT
ftr-402	406	33	grubert	grubert	PROPN
ftr-402	406	34	,	,	PUNCT
ftr-402	406	35	harry	harry	PROPN
ftr-402	406	36	and	and	CCONJ
ftr-402	406	37	john	john	PROPN
ftr-402	406	38	mutti	mutti	PROPN
ftr-402	406	39	,	,	PUNCT
ftr-402	406	40	1991	1991	NUM
ftr-402	406	41	,	,	PUNCT
ftr-402	406	42	“	"	PUNCT
ftr-402	406	43	taxes	taxis	NOUN
ftr-402	406	44	,	,	PUNCT
ftr-402	406	45	tariffs	tariff	NOUN
ftr-402	406	46	and	and	CCONJ
ftr-402	406	47	transfer	transfer	VERB
ftr-402	406	48	pricing	pricing	NOUN
ftr-402	406	49	in	in	ADP
ftr-402	406	50	multinational	multinational	ADJ
ftr-402	406	51	corporation	corporation	NOUN
ftr-402	406	52	decision	decision	NOUN
ftr-402	406	53	making	make	VERB
ftr-402	406	54	.	.	PUNCT
ftr-402	406	55	”	"	PUNCT
ftr-402	406	56	review	review	NOUN
ftr-402	406	57	of	of	ADP
ftr-402	406	58	economics	economic	NOUN
ftr-402	406	59	and	and	CCONJ
ftr-402	406	60	statistics	statistic	NOUN
ftr-402	406	61	,	,	PUNCT
ftr-402	406	62	vol.73	vol.73	ADV
ftr-402	406	63	:	:	PUNCT
ftr-402	406	64	33	33	NUM
ftr-402	406	65	:	:	SYM
ftr-402	406	66	285	285	NUM
ftr-402	406	67	-	-	SYM
ftr-402	406	68	293	293	NUM
ftr-402	406	69	.	.	PUNCT
ftr-402	407	1	sullivan	sullivan	PROPN
ftr-402	407	2	,	,	PUNCT
ftr-402	407	3	martin	martin	PROPN
ftr-402	407	4	,	,	PUNCT
ftr-402	407	5	2004	2004	NUM
ftr-402	407	6	,	,	PUNCT
ftr-402	407	7	“	"	PUNCT
ftr-402	407	8	data	datum	NOUN
ftr-402	407	9	show	show	VERB
ftr-402	407	10	dramatic	dramatic	ADJ
ftr-402	407	11	shift	shift	NOUN
ftr-402	407	12	of	of	ADP
ftr-402	407	13	profits	profit	NOUN
ftr-402	407	14	to	to	PART
ftr-402	407	15	tax	tax	NOUN
ftr-402	407	16	havens	haven	NOUN
ftr-402	407	17	,	,	PUNCT
ftr-402	407	18	”	"	PUNCT
ftr-402	407	19	tax	tax	NOUN
ftr-402	407	20	notes	note	NOUN
ftr-402	407	21	,	,	PUNCT
ftr-402	407	22	september	september	PROPN
ftr-402	407	23	13,vol	13,vol	NUM
ftr-402	407	24	.	.	PROPN
ftr-402	407	25	104	104	NUM
ftr-402	407	26	:	:	PUNCT
ftr-402	407	27	1190	1190	NUM
ftr-402	407	28	-	-	SYM
ftr-402	407	29	1200	1200	NUM
ftr-402	407	30	.	.	PUNCT
ftr-402	408	1	172	172	NUM
ftr-402	408	2	florida	florida	PROPN
ftr-402	408	3	tax	tax	NOUN
ftr-402	408	4	review	review	NOUN
ftr-402	408	5	[	[	X
ftr-402	408	6	vol.7:3	vol.7:3	NOUN
ftr-402	408	7	table	table	NOUN
ftr-402	408	8	1	1	NUM
ftr-402	408	9	average	average	ADJ
ftr-402	408	10	effective	effective	ADJ
ftr-402	408	11	tax	tax	NOUN
ftr-402	408	12	rates	rate	NOUN
ftr-402	408	13	in	in	ADP
ftr-402	408	14	manufacturing	manufacturing	NOUN
ftr-402	408	15	for	for	ADP
ftr-402	408	16	58	58	NUM
ftr-402	408	17	countries	country	NOUN
ftr-402	408	18	(	(	PUNCT
ftr-402	408	19	weighted	weight	VERB
ftr-402	408	20	by	by	ADP
ftr-402	408	21	number	number	NOUN
ftr-402	408	22	of	of	ADP
ftr-402	408	23	cfcs	cfc	NOUN
ftr-402	408	24	in	in	ADP
ftr-402	408	25	each	each	DET
ftr-402	408	26	country	country	NOUN
ftr-402	408	27	in	in	ADP
ftr-402	408	28	1990	1990	NUM
ftr-402	408	29	)	)	PUNCT
ftr-402	409	1	_	_	PUNCT
ftr-402	410	1	_	_	PUNCT
ftr-402	411	1	_	_	PUNCT
ftr-402	412	1	_	_	PUNCT
ftr-402	413	1	_	_	PUNCT
ftr-402	414	1	_	_	PUNCT
ftr-402	415	1	_	_	PUNCT
ftr-402	416	1	_	_	PUNCT
ftr-402	417	1	_	_	PUNCT
ftr-402	418	1	_	_	PUNCT
ftr-402	419	1	_	_	PUNCT
ftr-402	420	1	_	_	PUNCT
ftr-402	421	1	_	_	PUNCT
ftr-402	422	1	_	_	PUNCT
ftr-402	423	1	_	_	PUNCT
ftr-402	424	1	_	_	PUNCT
ftr-402	425	1	_	_	PUNCT
ftr-402	426	1	_	_	PUNCT
ftr-402	427	1	_	_	PUNCT
ftr-402	428	1	_	_	PUNCT
ftr-402	429	1	_	_	PUNCT
ftr-402	430	1	_	_	PUNCT
ftr-402	431	1	_	_	PUNCT
ftr-402	432	1	_	_	PUNCT
ftr-402	433	1	_	_	PUNCT
ftr-402	434	1	_	_	PUNCT
ftr-402	435	1	_	_	PUNCT
ftr-402	436	1	_	_	PUNCT
ftr-402	437	1	_	_	PUNCT
ftr-402	438	1	_	_	PUNCT
ftr-402	439	1	_	_	PUNCT
ftr-402	440	1	_	_	PUNCT
ftr-402	441	1	_	_	PUNCT
ftr-402	442	1	_	_	PUNCT
ftr-402	443	1	_	_	PUNCT
ftr-402	444	1	_	_	PUNCT
ftr-402	445	1	_	_	PUNCT
ftr-402	446	1	_	_	PUNCT
ftr-402	447	1	_	_	PUNCT
ftr-402	448	1	_	_	PUNCT
ftr-402	449	1	_	_	PUNCT
ftr-402	450	1	_	_	PUNCT
ftr-402	451	1	_	_	PUNCT
ftr-402	452	1	_	_	PUNCT
ftr-402	453	1	_	_	PUNCT
ftr-402	454	1	_	_	PUNCT
ftr-402	455	1	_	_	PUNCT
ftr-402	456	1	_	_	PUNCT
ftr-402	457	1	average	average	ADJ
ftr-402	457	2	effective	effective	ADJ
ftr-402	457	3	standard	standard	ADJ
ftr-402	457	4	year	year	NOUN
ftr-402	457	5	tax	tax	NOUN
ftr-402	457	6	rate	rate	NOUN
ftr-402	457	7	deviation	deviation	NOUN
ftr-402	457	8	1980	1980	NUM
ftr-402	457	9	0.33	0.33	NUM
ftr-402	457	10	0.85	0.85	NUM
ftr-402	457	11	1982	1982	NUM
ftr-402	457	12	0.34	0.34	NUM
ftr-402	457	13	0.98	0.98	NUM
ftr-402	457	14	1984	1984	NUM
ftr-402	457	15	0.34	0.34	NUM
ftr-402	457	16	1.03	1.03	NUM
ftr-402	457	17	1986	1986	NUM
ftr-402	457	18	0.32	0.32	NUM
ftr-402	457	19	1.05	1.05	NUM
ftr-402	457	20	1988	1988	NUM
ftr-402	457	21	0.31	0.31	NUM
ftr-402	457	22	1.09	1.09	NUM
ftr-402	457	23	1990	1990	NUM
ftr-402	457	24	0.25	0.25	NUM
ftr-402	457	25	0.89	0.89	NUM
ftr-402	457	26	1992	1992	NUM
ftr-402	457	27	0.25	0.25	NUM
ftr-402	457	28	0.86	0.86	NUM
ftr-402	457	29	1994	1994	NUM
ftr-402	457	30	0.22	0.22	NUM
ftr-402	457	31	0.72	0.72	NUM
ftr-402	457	32	1996	1996	NUM
ftr-402	457	33	0.23	0.23	NUM
ftr-402	457	34	0.79	0.79	NUM
ftr-402	457	35	1998	1998	NUM
ftr-402	457	36	0.24	0.24	NUM
ftr-402	457	37	0.77	0.77	NUM
ftr-402	457	38	2000	2000	NUM
ftr-402	457	39	0.21	0.21	NUM
ftr-402	457	40	0.67	0.67	NUM
ftr-402	458	1	_	_	PUNCT
ftr-402	459	1	_	_	PUNCT
ftr-402	460	1	_	_	PUNCT
ftr-402	461	1	_	_	PUNCT
ftr-402	462	1	_	_	PUNCT
ftr-402	463	1	_	_	PUNCT
ftr-402	464	1	_	_	PUNCT
ftr-402	465	1	_	_	PUNCT
ftr-402	466	1	_	_	PUNCT
ftr-402	467	1	_	_	PUNCT
ftr-402	468	1	_	_	PUNCT
ftr-402	469	1	_	_	PUNCT
ftr-402	470	1	_	_	PUNCT
ftr-402	471	1	_	_	PUNCT
ftr-402	472	1	_	_	PUNCT
ftr-402	473	1	_	_	PUNCT
ftr-402	474	1	_	_	PUNCT
ftr-402	475	1	_	_	PUNCT
ftr-402	476	1	_	_	PUNCT
ftr-402	477	1	_	_	PUNCT
ftr-402	478	1	_	_	PUNCT
ftr-402	479	1	_	_	PUNCT
ftr-402	480	1	_	_	PUNCT
ftr-402	481	1	_	_	PUNCT
ftr-402	482	1	_	_	PUNCT
ftr-402	483	1	_	_	PUNCT
ftr-402	484	1	_	_	PUNCT
ftr-402	485	1	_	_	PUNCT
ftr-402	486	1	_	_	PUNCT
ftr-402	487	1	_	_	PUNCT
ftr-402	488	1	_	_	PUNCT
ftr-402	489	1	_	_	PUNCT
ftr-402	490	1	_	_	PUNCT
ftr-402	491	1	_	_	PUNCT
ftr-402	492	1	_	_	PUNCT
ftr-402	493	1	_	_	PUNCT
ftr-402	494	1	_	_	PUNCT
ftr-402	495	1	_	_	PUNCT
ftr-402	496	1	_	_	PUNCT
ftr-402	497	1	_	_	PUNCT
ftr-402	498	1	_	_	PUNCT
ftr-402	499	1	_	_	PUNCT
ftr-402	500	1	_	_	PUNCT
ftr-402	501	1	_	_	PUNCT
ftr-402	502	1	_	_	PUNCT
ftr-402	503	1	_	_	PUNCT
ftr-402	504	1	_	_	PUNCT
ftr-402	505	1	_	_	PUNCT
ftr-402	505	2	source	source	NOUN
ftr-402	505	3	:	:	PUNCT
ftr-402	505	4	authors	author	NOUN
ftr-402	505	5	’	'	PUNCT
ftr-402	505	6	calculations	calculation	NOUN
ftr-402	505	7	from	from	ADP
ftr-402	505	8	treasury	treasury	PROPN
ftr-402	505	9	tax	tax	NOUN
ftr-402	505	10	files	file	NOUN
ftr-402	505	11	.	.	PUNCT
ftr-402	506	1	2005	2005	NUM
ftr-402	506	2	]	]	PUNCT
ftr-402	506	3	the	the	DET
ftr-402	506	4	three	three	NUM
ftr-402	506	5	parties	party	NOUN
ftr-402	506	6	in	in	ADP
ftr-402	506	7	the	the	DET
ftr-402	506	8	race	race	NOUN
ftr-402	506	9	to	to	ADP
ftr-402	506	10	the	the	DET
ftr-402	506	11	bottom	bottom	ADJ
ftr-402	506	12	173	173	NUM
ftr-402	506	13	table	table	NOUN
ftr-402	506	14	2a	2a	NUM
ftr-402	506	15	do	do	VERB
ftr-402	506	16	changes	change	NOUN
ftr-402	506	17	in	in	ADP
ftr-402	506	18	capital	capital	NOUN
ftr-402	506	19	share	share	NOUN
ftr-402	506	20	explain	explain	VERB
ftr-402	506	21	recent	recent	ADJ
ftr-402	506	22	decreases	decrease	NOUN
ftr-402	506	23	in	in	ADP
ftr-402	506	24	country	country	NOUN
ftr-402	506	25	average	average	ADJ
ftr-402	506	26	effective	effective	ADJ
ftr-402	506	27	tax	tax	NOUN
ftr-402	506	28	rates	rate	NOUN
ftr-402	506	29	?	?	PUNCT
ftr-402	507	1	_	_	PUNCT
ftr-402	508	1	_	_	PUNCT
ftr-402	509	1	_	_	PUNCT
ftr-402	510	1	_	_	PUNCT
ftr-402	511	1	_	_	PUNCT
ftr-402	512	1	_	_	PUNCT
ftr-402	513	1	_	_	PUNCT
ftr-402	514	1	_	_	PUNCT
ftr-402	515	1	_	_	PUNCT
ftr-402	516	1	_	_	PUNCT
ftr-402	517	1	_	_	PUNCT
ftr-402	518	1	_	_	PUNCT
ftr-402	519	1	_	_	PUNCT
ftr-402	520	1	_	_	PUNCT
ftr-402	521	1	_	_	PUNCT
ftr-402	522	1	_	_	PUNCT
ftr-402	523	1	_	_	PUNCT
ftr-402	524	1	_	_	PUNCT
ftr-402	525	1	_	_	PUNCT
ftr-402	526	1	_	_	PUNCT
ftr-402	527	1	_	_	PUNCT
ftr-402	528	1	_	_	PUNCT
ftr-402	529	1	_	_	PUNCT
ftr-402	530	1	_	_	PUNCT
ftr-402	531	1	_	_	PUNCT
ftr-402	532	1	_	_	PUNCT
ftr-402	533	1	_	_	PUNCT
ftr-402	534	1	_	_	PUNCT
ftr-402	535	1	_	_	PUNCT
ftr-402	536	1	_	_	PUNCT
ftr-402	537	1	_	_	PUNCT
ftr-402	538	1	_	_	PUNCT
ftr-402	539	1	_	_	PUNCT
ftr-402	540	1	_	_	PUNCT
ftr-402	541	1	_	_	PUNCT
ftr-402	542	1	_	_	PUNCT
ftr-402	543	1	_	_	PUNCT
ftr-402	544	1	_	_	PUNCT
ftr-402	545	1	_	_	PUNCT
ftr-402	546	1	_	_	PUNCT
ftr-402	547	1	_	_	PUNCT
ftr-402	548	1	_	_	PUNCT
ftr-402	549	1	_	_	PUNCT
ftr-402	550	1	_	_	PUNCT
ftr-402	551	1	_	_	PUNCT
ftr-402	552	1	_	_	PUNCT
ftr-402	553	1	_	_	PUNCT
ftr-402	554	1	_	_	PUNCT
ftr-402	555	1	_	_	PUNCT
ftr-402	556	1	_	_	PUNCT
ftr-402	557	1	_	_	PUNCT
ftr-402	558	1	_	_	PUNCT
ftr-402	559	1	_	_	PUNCT
ftr-402	560	1	_	_	PUNCT
ftr-402	561	1	_	_	PUNCT
ftr-402	562	1	_	_	PUNCT
ftr-402	563	1	_	_	PUNCT
ftr-402	564	1	_	_	PUNCT
ftr-402	565	1	_	_	PUNCT
ftr-402	566	1	_	_	PUNCT
ftr-402	567	1	_	_	PUNCT
ftr-402	568	1	_	_	PUNCT
ftr-402	569	1	_	_	PUNCT
ftr-402	570	1	independent	independent	ADJ
ftr-402	570	2	variables	variable	NOUN
ftr-402	570	3	dependent	dependent	ADJ
ftr-402	570	4	variables	variable	NOUN
ftr-402	570	5	aetr	aetr	ADV
ftr-402	570	6	for	for	ADP
ftr-402	570	7	1992	1992	NUM
ftr-402	570	8	-	-	PUNCT
ftr-402	570	9	aetr	aetr	NOUN
ftr-402	570	10	for	for	ADP
ftr-402	570	11	1998	1998	NUM
ftr-402	570	12	(	(	PUNCT
ftr-402	570	13	1	1	NUM
ftr-402	570	14	)	)	PUNCT
ftr-402	570	15	(	(	PUNCT
ftr-402	570	16	2	2	NUM
ftr-402	570	17	)	)	PUNCT
ftr-402	570	18	(	(	PUNCT
ftr-402	570	19	3	3	X
ftr-402	570	20	)	)	PUNCT
ftr-402	570	21	(	(	PUNCT
ftr-402	570	22	4	4	X
ftr-402	570	23	)	)	PUNCT
ftr-402	570	24	log	log	NOUN
ftr-402	570	25	(	(	PUNCT
ftr-402	570	26	capital	capital	NOUN
ftr-402	570	27	in	in	ADP
ftr-402	570	28	1992	1992	NUM
ftr-402	570	29	)	)	PUNCT
ftr-402	570	30	log	log	NOUN
ftr-402	570	31	(	(	PUNCT
ftr-402	570	32	capital	capital	NOUN
ftr-402	570	33	in	in	ADP
ftr-402	570	34	1984	1984	NUM
ftr-402	570	35	)	)	PUNCT
ftr-402	570	36	-0.047	-0.047	PUNCT
ftr-402	570	37	-0.047	-0.047	PUNCT
ftr-402	570	38	-0.055	-0.055	VERB
ftr-402	571	1	*	*	PUNCT
ftr-402	571	2	*	*	PUNCT
ftr-402	571	3	*	*	PUNCT
ftr-402	572	1	*	*	PUNCT
ftr-402	573	1	*	*	PUNCT
ftr-402	573	2	*	*	PUNCT
ftr-402	573	3	x	x	PUNCT
ftr-402	574	1	[	[	X
ftr-402	574	2	aeft	aeft	NOUN
ftr-402	574	3	for	for	ADP
ftr-402	574	4	1990	1990	NUM
ftr-402	574	5	]	]	PUNCT
ftr-402	574	6	(	(	PUNCT
ftr-402	574	7	0.014	0.014	NUM
ftr-402	574	8	)	)	PUNCT
ftr-402	574	9	(	(	PUNCT
ftr-402	574	10	0.038	0.038	NUM
ftr-402	574	11	)	)	PUNCT
ftr-402	574	12	(	(	PUNCT
ftr-402	574	13	0.014	0.014	NUM
ftr-402	574	14	)	)	PUNCT
ftr-402	574	15	average	average	ADJ
ftr-402	574	16	effective	effective	ADJ
ftr-402	574	17	tax	tax	NOUN
ftr-402	574	18	rate	rate	NOUN
ftr-402	574	19	for	for	ADP
ftr-402	574	20	1990	1990	NUM
ftr-402	574	21	0.249	0.249	NUM
ftr-402	574	22	0.249	0.249	NUM
ftr-402	574	23	0.334	0.334	NUM
ftr-402	574	24	0.193	0.193	NUM
ftr-402	574	25	*	*	PUNCT
ftr-402	574	26	*	*	PUNCT
ftr-402	574	27	*	*	PUNCT
ftr-402	575	1	*	*	PUNCT
ftr-402	575	2	*	*	PUNCT
ftr-402	576	1	*	*	PUNCT
ftr-402	576	2	*	*	PUNCT
ftr-402	576	3	*	*	PUNCT
ftr-402	576	4	*	*	PUNCT
ftr-402	576	5	*	*	PUNCT
ftr-402	576	6	(	(	PUNCT
ftr-402	576	7	0.082	0.082	NUM
ftr-402	576	8	)	)	PUNCT
ftr-402	576	9	(	(	PUNCT
ftr-402	576	10	0.118	0.118	NUM
ftr-402	576	11	)	)	PUNCT
ftr-402	576	12	(	(	PUNCT
ftr-402	576	13	0.088	0.088	NUM
ftr-402	576	14	)	)	PUNCT
ftr-402	576	15	(	(	PUNCT
ftr-402	576	16	0.080	0.080	X
ftr-402	576	17	)	)	PUNCT
ftr-402	576	18	dummy	dummy	NOUN
ftr-402	576	19	for	for	ADP
ftr-402	576	20	small	small	ADJ
ftr-402	576	21	countries	country	NOUN
ftr-402	576	22	0.049	0.049	NUM
ftr-402	576	23	0.049	0.049	NUM
ftr-402	576	24	0.052	0.052	NUM
ftr-402	576	25	0.053	0.053	NUM
ftr-402	576	26	*	*	PUNCT
ftr-402	576	27	*	*	PUNCT
ftr-402	577	1	*	*	PUNCT
ftr-402	578	1	*	*	PUNCT
ftr-402	578	2	*	*	PUNCT
ftr-402	579	1	*	*	PUNCT
ftr-402	579	2	*	*	PUNCT
ftr-402	579	3	*	*	PUNCT
ftr-402	579	4	*	*	PUNCT
ftr-402	579	5	*	*	PUNCT
ftr-402	579	6	*	*	PUNCT
ftr-402	579	7	(	(	PUNCT
ftr-402	579	8	0.018	0.018	NUM
ftr-402	579	9	)	)	PUNCT
ftr-402	579	10	(	(	PUNCT
ftr-402	579	11	0.018	0.018	NUM
ftr-402	579	12	)	)	PUNCT
ftr-402	579	13	(	(	PUNCT
ftr-402	579	14	0.019	0.019	NUM
ftr-402	579	15	)	)	PUNCT
ftr-402	579	16	(	(	PUNCT
ftr-402	579	17	0.018	0.018	NUM
ftr-402	579	18	)	)	PUNCT
ftr-402	579	19	log	log	NOUN
ftr-402	579	20	(	(	PUNCT
ftr-402	579	21	capital	capital	NOUN
ftr-402	579	22	in	in	ADP
ftr-402	579	23	1992	1992	NUM
ftr-402	579	24	)	)	PUNCT
ftr-402	579	25	log	log	NOUN
ftr-402	579	26	(	(	PUNCT
ftr-402	579	27	capital	capital	NOUN
ftr-402	579	28	in	in	ADP
ftr-402	579	29	1984	1984	NUM
ftr-402	579	30	)	)	PUNCT
ftr-402	579	31	x	x	SYM
ftr-402	579	32	aetr	aetr	NOUN
ftr-402	579	33	for	for	ADP
ftr-402	579	34	1990	1990	NUM
ftr-402	579	35	.001	.001	NUM
ftr-402	579	36	(	(	PUNCT
ftr-402	579	37	0.119	0.119	NUM
ftr-402	579	38	)	)	PUNCT
ftr-402	580	1	[	[	X
ftr-402	580	2	predicted	predict	VERB
ftr-402	580	3	actual	actual	ADJ
ftr-402	580	4	change	change	NOUN
ftr-402	580	5	in	in	ADP
ftr-402	580	6	log	log	NOUN
ftr-402	580	7	of	of	ADP
ftr-402	580	8	capital	capital	NOUN
ftr-402	580	9	between	between	ADP
ftr-402	580	10	1992	1992	NUM
ftr-402	580	11	and	and	CCONJ
ftr-402	580	12	1984	1984	NUM
ftr-402	580	13	]	]	X
ftr-402	580	14	x	x	X
ftr-402	581	1	[	[	X
ftr-402	581	2	tax	tax	NOUN
ftr-402	581	3	determinants	determinant	NOUN
ftr-402	581	4	-0.035	-0.035	NOUN
ftr-402	581	5	of	of	ADP
ftr-402	581	6	investment	investment	NOUN
ftr-402	581	7	]	]	PUNCT
ftr-402	581	8	(	(	PUNCT
ftr-402	581	9	0.022	0.022	NUM
ftr-402	581	10	)	)	PUNCT
ftr-402	582	1	[	[	X
ftr-402	582	2	predicted	predict	VERB
ftr-402	582	3	actual	actual	ADJ
ftr-402	582	4	change	change	NOUN
ftr-402	582	5	in	in	ADP
ftr-402	582	6	log	log	NOUN
ftr-402	582	7	of	of	ADP
ftr-402	582	8	capital	capital	NOUN
ftr-402	582	9	between	between	ADP
ftr-402	582	10	1992	1992	NUM
ftr-402	582	11	and	and	CCONJ
ftr-402	582	12	1984	1984	NUM
ftr-402	582	13	]	]	X
ftr-402	582	14	x	x	PUNCT
ftr-402	583	1	[	[	X
ftr-402	583	2	tax	tax	NOUN
ftr-402	583	3	determinants	determinant	NOUN
ftr-402	583	4	of	of	ADP
ftr-402	583	5	investment	investment	NOUN
ftr-402	583	6	]	]	PUNCT
ftr-402	583	7	0.053	0.053	NUM
ftr-402	583	8	(	(	PUNCT
ftr-402	583	9	0.064	0.064	NUM
ftr-402	583	10	)	)	PUNCT
ftr-402	583	11	regional	regional	ADJ
ftr-402	583	12	dummies	dummies	PROPN
ftr-402	583	13	latin	latin	PROPN
ftr-402	583	14	america	america	PROPN
ftr-402	583	15	-0.049	-0.049	PROPN
ftr-402	583	16	*	*	PROPN
ftr-402	583	17	(	(	PUNCT
ftr-402	583	18	0.026	0.026	NUM
ftr-402	583	19	)	)	PUNCT
ftr-402	583	20	north	north	PROPN
ftr-402	583	21	america	america	PROPN
ftr-402	583	22	0.020	0.020	NUM
ftr-402	583	23	(	(	PUNCT
ftr-402	583	24	0.027	0.027	NUM
ftr-402	583	25	)	)	PUNCT
ftr-402	583	26	asia	asia	PROPN
ftr-402	583	27	0.025	0.025	NUM
ftr-402	583	28	(	(	PUNCT
ftr-402	583	29	0.025	0.025	NUM
ftr-402	583	30	)	)	PUNCT
ftr-402	583	31	european	european	PROPN
ftr-402	583	32	union	union	PROPN
ftr-402	583	33	-0.032	-0.032	ADP
ftr-402	583	34	(	(	PUNCT
ftr-402	583	35	0.021	0.021	NUM
ftr-402	583	36	)	)	PUNCT
ftr-402	583	37	constant	constant	ADJ
ftr-402	583	38	-0.027	-0.027	INTJ
ftr-402	583	39	-0.027	-0.027	PUNCT
ftr-402	583	40	-0.090	-0.090	PUNCT
ftr-402	583	41	0.005	0.005	NUM
ftr-402	583	42	*	*	PUNCT
ftr-402	583	43	*	*	PUNCT
ftr-402	583	44	*	*	PUNCT
ftr-402	583	45	(	(	PUNCT
ftr-402	583	46	0.030	0.030	NUM
ftr-402	583	47	)	)	PUNCT
ftr-402	583	48	(	(	PUNCT
ftr-402	583	49	0.036	0.036	NUM
ftr-402	583	50	)	)	PUNCT
ftr-402	583	51	(	(	PUNCT
ftr-402	583	52	0.027	0.027	NUM
ftr-402	583	53	)	)	PUNCT
ftr-402	583	54	(	(	PUNCT
ftr-402	583	55	0.034	0.034	NUM
ftr-402	583	56	)	)	PUNCT
ftr-402	583	57	adjusted	adjust	VERB
ftr-402	583	58	r	r	NOUN
ftr-402	583	59	0.27	0.27	NUM
ftr-402	583	60	0.25	0.25	NUM
ftr-402	583	61	0.19	0.19	NUM
ftr-402	583	62	0.392	0.392	NUM
ftr-402	583	63	_	_	PUNCT
ftr-402	584	1	_	_	PUNCT
ftr-402	585	1	_	_	PUNCT
ftr-402	586	1	_	_	PUNCT
ftr-402	587	1	_	_	PUNCT
ftr-402	588	1	_	_	PUNCT
ftr-402	589	1	_	_	PUNCT
ftr-402	590	1	_	_	PUNCT
ftr-402	591	1	_	_	PUNCT
ftr-402	592	1	_	_	PUNCT
ftr-402	593	1	_	_	PUNCT
ftr-402	594	1	_	_	PUNCT
ftr-402	595	1	_	_	PUNCT
ftr-402	596	1	_	_	PUNCT
ftr-402	597	1	_	_	PUNCT
ftr-402	598	1	_	_	PUNCT
ftr-402	599	1	_	_	PUNCT
ftr-402	600	1	_	_	PUNCT
ftr-402	601	1	_	_	PUNCT
ftr-402	602	1	_	_	PUNCT
ftr-402	603	1	_	_	PUNCT
ftr-402	604	1	_	_	PUNCT
ftr-402	605	1	_	_	PUNCT
ftr-402	606	1	_	_	PUNCT
ftr-402	607	1	_	_	PUNCT
ftr-402	608	1	_	_	PUNCT
ftr-402	609	1	_	_	PUNCT
ftr-402	610	1	_	_	PUNCT
ftr-402	611	1	_	_	PUNCT
ftr-402	612	1	_	_	PUNCT
ftr-402	613	1	_	_	PUNCT
ftr-402	614	1	_	_	PUNCT
ftr-402	615	1	_	_	PUNCT
ftr-402	616	1	_	_	PUNCT
ftr-402	617	1	_	_	PUNCT
ftr-402	618	1	_	_	PUNCT
ftr-402	619	1	_	_	PUNCT
ftr-402	620	1	_	_	PUNCT
ftr-402	621	1	_	_	PUNCT
ftr-402	622	1	_	_	PUNCT
ftr-402	623	1	_	_	PUNCT
ftr-402	624	1	_	_	PUNCT
ftr-402	625	1	_	_	PUNCT
ftr-402	626	1	_	_	PUNCT
ftr-402	627	1	_	_	PUNCT
ftr-402	628	1	_	_	PUNCT
ftr-402	629	1	_	_	PUNCT
ftr-402	630	1	_	_	PUNCT
ftr-402	631	1	_	_	PUNCT
ftr-402	632	1	_	_	PUNCT
ftr-402	633	1	_	_	PUNCT
ftr-402	634	1	_	_	PUNCT
ftr-402	635	1	_	_	PUNCT
ftr-402	636	1	_	_	PUNCT
ftr-402	637	1	_	_	PUNCT
ftr-402	638	1	_	_	PUNCT
ftr-402	639	1	_	_	PUNCT
ftr-402	640	1	_	_	PUNCT
ftr-402	641	1	_	_	PUNCT
ftr-402	642	1	_	_	PUNCT
ftr-402	643	1	_	_	PUNCT
ftr-402	644	1	_	_	PUNCT
ftr-402	645	1	_	_	PUNCT
ftr-402	646	1	_	_	PUNCT
ftr-402	647	1	_	_	PUNCT
ftr-402	648	1	_	_	PUNCT
ftr-402	649	1	_	_	PUNCT
ftr-402	650	1	_	_	PUNCT
ftr-402	651	1	_	_	PUNCT
ftr-402	651	2	notes	note	VERB
ftr-402	651	3	:	:	PUNCT
ftr-402	651	4	see	see	VERB
ftr-402	651	5	paper	paper	NOUN
ftr-402	651	6	for	for	ADP
ftr-402	651	7	details	detail	NOUN
ftr-402	651	8	on	on	ADP
ftr-402	651	9	the	the	DET
ftr-402	651	10	construction	construction	NOUN
ftr-402	651	11	of	of	ADP
ftr-402	651	12	the	the	DET
ftr-402	651	13	variables	variable	NOUN
ftr-402	651	14	in	in	ADP
ftr-402	651	15	the	the	DET
ftr-402	651	16	column	column	NOUN
ftr-402	651	17	3	3	NUM
ftr-402	651	18	regressions	regression	NOUN
ftr-402	651	19	.	.	PUNCT
ftr-402	652	1	the	the	DET
ftr-402	652	2	dummy	dummy	NOUN
ftr-402	652	3	for	for	ADP
ftr-402	652	4	small	small	ADJ
ftr-402	652	5	countries	country	NOUN
ftr-402	652	6	equals	equal	VERB
ftr-402	652	7	one	one	NUM
ftr-402	652	8	for	for	ADP
ftr-402	652	9	countries	country	NOUN
ftr-402	652	10	with	with	ADP
ftr-402	652	11	populations	population	NOUN
ftr-402	652	12	below	below	ADP
ftr-402	652	13	15	15	NUM
ftr-402	652	14	million	million	NUM
ftr-402	652	15	in	in	ADP
ftr-402	652	16	1992	1992	NUM
ftr-402	652	17	.	.	PUNCT
ftr-402	653	1	all	all	DET
ftr-402	653	2	regressions	regression	NOUN
ftr-402	653	3	are	be	AUX
ftr-402	653	4	weighted	weight	VERB
ftr-402	653	5	least	least	ADJ
ftr-402	653	6	squares	square	NOUN
ftr-402	653	7	using	use	VERB
ftr-402	653	8	the	the	DET
ftr-402	653	9	number	number	NOUN
ftr-402	653	10	of	of	ADP
ftr-402	653	11	cfcs	cfcs	PROPN
ftr-402	653	12	in	in	ADP
ftr-402	653	13	1992	1992	NUM
ftr-402	653	14	as	as	ADP
ftr-402	653	15	weighing	weigh	VERB
ftr-402	653	16	factors	factor	NOUN
ftr-402	653	17	.	.	PUNCT
ftr-402	654	1	number	number	NOUN
ftr-402	654	2	of	of	ADP
ftr-402	654	3	observations	observation	NOUN
ftr-402	654	4	equals	equal	VERB
ftr-402	654	5	58	58	NUM
ftr-402	654	6	.	.	PUNCT
ftr-402	654	7	,	,	PUNCT
ftr-402	654	8	,	,	PUNCT
ftr-402	654	9	denote	denote	VERB
ftr-402	654	10	significance	significance	NOUN
ftr-402	654	11	at	at	ADP
ftr-402	654	12	the	the	DET
ftr-402	654	13	10	10	NUM
ftr-402	654	14	%	%	NOUN
ftr-402	654	15	,	,	PUNCT
ftr-402	654	16	5	5	NUM
ftr-402	654	17	%	%	NOUN
ftr-402	654	18	,	,	PUNCT
ftr-402	654	19	and	and	CCONJ
ftr-402	654	20	1	1	NUM
ftr-402	654	21	%	%	NOUN
ftr-402	654	22	levels	level	NOUN
ftr-402	654	23	*	*	PUNCT
ftr-402	655	1	*	*	PUNCT
ftr-402	655	2	*	*	PUNCT
ftr-402	655	3	*	*	PUNCT
ftr-402	655	4	*	*	PUNCT
ftr-402	655	5	*	*	PUNCT
ftr-402	655	6	respectively	respectively	ADV
ftr-402	655	7	.	.	PUNCT
ftr-402	656	1	the	the	DET
ftr-402	656	2	mean	mean	NOUN
ftr-402	656	3	of	of	ADP
ftr-402	656	4	the	the	DET
ftr-402	656	5	dependent	dependent	ADJ
ftr-402	656	6	variable	variable	NOUN
ftr-402	656	7	is	be	AUX
ftr-402	656	8	.009	.009	NUM
ftr-402	656	9	.	.	PUNCT
ftr-402	657	1	source	source	NOUN
ftr-402	657	2	:	:	PUNCT
ftr-402	657	3	treasury	treasury	NOUN
ftr-402	657	4	tax	tax	NOUN
ftr-402	657	5	files	file	NOUN
ftr-402	657	6	.	.	PUNCT
ftr-402	658	1	174	174	NUM
ftr-402	658	2	florida	florida	PROPN
ftr-402	658	3	tax	tax	NOUN
ftr-402	658	4	review	review	NOUN
ftr-402	658	5	[	[	X
ftr-402	658	6	vol.7:3	vol.7:3	NOUN
ftr-402	658	7	table	table	NOUN
ftr-402	658	8	2b	2b	NOUN
ftr-402	658	9	do	do	VERB
ftr-402	658	10	changes	change	NOUN
ftr-402	658	11	in	in	ADP
ftr-402	658	12	capital	capital	NOUN
ftr-402	658	13	share	share	NOUN
ftr-402	658	14	explain	explain	VERB
ftr-402	658	15	recent	recent	ADJ
ftr-402	658	16	decreases	decrease	NOUN
ftr-402	658	17	in	in	ADP
ftr-402	658	18	country	country	NOUN
ftr-402	658	19	average	average	ADJ
ftr-402	658	20	effective	effective	ADJ
ftr-402	658	21	tax	tax	NOUN
ftr-402	658	22	rates	rate	NOUN
ftr-402	658	23	?	?	PUNCT
ftr-402	659	1	1998	1998	NUM
ftr-402	659	2	versus	versus	ADP
ftr-402	659	3	2000	2000	NUM
ftr-402	659	4	_	_	PUNCT
ftr-402	660	1	_	_	PUNCT
ftr-402	661	1	_	_	PUNCT
ftr-402	662	1	_	_	PUNCT
ftr-402	663	1	_	_	PUNCT
ftr-402	664	1	_	_	PUNCT
ftr-402	665	1	_	_	PUNCT
ftr-402	666	1	_	_	PUNCT
ftr-402	667	1	_	_	PUNCT
ftr-402	668	1	_	_	PUNCT
ftr-402	669	1	_	_	PUNCT
ftr-402	670	1	_	_	PUNCT
ftr-402	671	1	_	_	PUNCT
ftr-402	672	1	_	_	PUNCT
ftr-402	673	1	_	_	PUNCT
ftr-402	674	1	_	_	PUNCT
ftr-402	675	1	_	_	PUNCT
ftr-402	676	1	_	_	PUNCT
ftr-402	677	1	_	_	PUNCT
ftr-402	678	1	_	_	PUNCT
ftr-402	679	1	_	_	PUNCT
ftr-402	680	1	_	_	PUNCT
ftr-402	681	1	_	_	PUNCT
ftr-402	682	1	_	_	PUNCT
ftr-402	683	1	_	_	PUNCT
ftr-402	684	1	_	_	PUNCT
ftr-402	685	1	_	_	PUNCT
ftr-402	686	1	_	_	PUNCT
ftr-402	687	1	_	_	PUNCT
ftr-402	688	1	_	_	PUNCT
ftr-402	689	1	_	_	PUNCT
ftr-402	690	1	_	_	PUNCT
ftr-402	691	1	_	_	PUNCT
ftr-402	692	1	_	_	PUNCT
ftr-402	693	1	_	_	PUNCT
ftr-402	694	1	_	_	PUNCT
ftr-402	695	1	_	_	PUNCT
ftr-402	696	1	_	_	PUNCT
ftr-402	697	1	_	_	PUNCT
ftr-402	698	1	_	_	PUNCT
ftr-402	699	1	_	_	PUNCT
ftr-402	700	1	_	_	PUNCT
ftr-402	701	1	_	_	PUNCT
ftr-402	702	1	_	_	PUNCT
ftr-402	703	1	_	_	PUNCT
ftr-402	704	1	_	_	PUNCT
ftr-402	705	1	_	_	PUNCT
ftr-402	706	1	_	_	PUNCT
ftr-402	707	1	_	_	PUNCT
ftr-402	708	1	_	_	PUNCT
ftr-402	709	1	_	_	PUNCT
ftr-402	710	1	_	_	PUNCT
ftr-402	711	1	_	_	PUNCT
ftr-402	712	1	_	_	PUNCT
ftr-402	713	1	_	_	PUNCT
ftr-402	714	1	_	_	PUNCT
ftr-402	715	1	_	_	PUNCT
ftr-402	716	1	_	_	PUNCT
ftr-402	717	1	_	_	PUNCT
ftr-402	718	1	_	_	PUNCT
ftr-402	719	1	_	_	PUNCT
ftr-402	720	1	_	_	PUNCT
ftr-402	721	1	_	_	PUNCT
ftr-402	722	1	independent	independent	ADJ
ftr-402	722	2	variables	variable	NOUN
ftr-402	722	3	dependent	dependent	ADJ
ftr-402	722	4	variables	variable	NOUN
ftr-402	722	5	aetr	aetr	ADV
ftr-402	722	6	for	for	ADP
ftr-402	722	7	1992	1992	NUM
ftr-402	722	8	aetr	aetr	NOUN
ftr-402	722	9	for	for	ADP
ftr-402	722	10	1992	1992	NUM
ftr-402	722	11	aetr	aetr	NOUN
ftr-402	722	12	for	for	ADP
ftr-402	722	13	1998	1998	NUM
ftr-402	722	14	aetr	aetr	NOUN
ftr-402	722	15	for	for	ADP
ftr-402	722	16	2000	2000	NUM
ftr-402	722	17	log	log	NOUN
ftr-402	722	18	(	(	PUNCT
ftr-402	722	19	capital	capital	NOUN
ftr-402	722	20	in	in	ADP
ftr-402	722	21	1992	1992	NUM
ftr-402	722	22	)	)	PUNCT
ftr-402	722	23	log	log	NOUN
ftr-402	722	24	(	(	PUNCT
ftr-402	722	25	capital	capital	NOUN
ftr-402	722	26	in	in	ADP
ftr-402	722	27	1984	1984	NUM
ftr-402	722	28	)	)	PUNCT
ftr-402	722	29	-0.055	-0.055	PUNCT
ftr-402	722	30	-0.024	-0.024	PUNCT
ftr-402	722	31	*	*	PUNCT
ftr-402	722	32	*	*	PUNCT
ftr-402	722	33	*	*	PUNCT
ftr-402	722	34	(	(	PUNCT
ftr-402	722	35	0.015	0.015	NUM
ftr-402	722	36	)	)	PUNCT
ftr-402	722	37	(	(	PUNCT
ftr-402	722	38	0.015	0.015	NUM
ftr-402	722	39	)	)	PUNCT
ftr-402	722	40	average	average	ADJ
ftr-402	722	41	effective	effective	ADJ
ftr-402	722	42	tax	tax	NOUN
ftr-402	722	43	rate	rate	NOUN
ftr-402	722	44	for	for	ADP
ftr-402	722	45	1990	1990	NUM
ftr-402	722	46	0.205	0.205	NUM
ftr-402	722	47	0.144	0.144	NUM
ftr-402	722	48	*	*	PUNCT
ftr-402	722	49	(	(	PUNCT
ftr-402	722	50	0.121	0.121	NUM
ftr-402	722	51	)	)	PUNCT
ftr-402	722	52	(	(	PUNCT
ftr-402	722	53	0.124	0.124	NUM
ftr-402	722	54	)	)	PUNCT
ftr-402	722	55	dummy	dummy	NOUN
ftr-402	722	56	for	for	ADP
ftr-402	722	57	small	small	ADJ
ftr-402	722	58	countries	country	NOUN
ftr-402	722	59	0.052	0.052	NUM
ftr-402	722	60	0.032	0.032	NUM
ftr-402	722	61	*	*	PUNCT
ftr-402	722	62	*	*	PUNCT
ftr-402	722	63	*	*	PUNCT
ftr-402	722	64	*	*	PUNCT
ftr-402	722	65	(	(	PUNCT
ftr-402	722	66	0.018	0.018	NUM
ftr-402	722	67	)	)	PUNCT
ftr-402	722	68	(	(	PUNCT
ftr-402	722	69	0.019	0.019	NUM
ftr-402	722	70	)	)	PUNCT
ftr-402	722	71	statutory	statutory	ADJ
ftr-402	722	72	rate	rate	NOUN
ftr-402	722	73	for	for	ADP
ftr-402	722	74	1992	1992	NUM
ftr-402	722	75	-0.016	-0.016	PUNCT
ftr-402	723	1	0.166	0.166	NUM
ftr-402	723	2	(	(	PUNCT
ftr-402	723	3	0.117	0.117	NUM
ftr-402	723	4	)	)	PUNCT
ftr-402	723	5	(	(	PUNCT
ftr-402	723	6	0.120	0.120	NUM
ftr-402	723	7	)	)	PUNCT
ftr-402	723	8	regional	regional	ADJ
ftr-402	723	9	dummies	dummies	PROPN
ftr-402	723	10	latin	latin	PROPN
ftr-402	723	11	america	america	PROPN
ftr-402	723	12	-0.049	-0.049	PUNCT
ftr-402	723	13	-0.022	-0.022	PROPN
ftr-402	723	14	*	*	PUNCT
ftr-402	723	15	(	(	PUNCT
ftr-402	723	16	0.026	0.026	NUM
ftr-402	723	17	)	)	PUNCT
ftr-402	723	18	(	(	PUNCT
ftr-402	723	19	0.027	0.027	NUM
ftr-402	723	20	)	)	PUNCT
ftr-402	723	21	north	north	PROPN
ftr-402	723	22	america	america	PROPN
ftr-402	723	23	0.020	0.020	NUM
ftr-402	723	24	0.023	0.023	NUM
ftr-402	723	25	(	(	PUNCT
ftr-402	723	26	0.027	0.027	NUM
ftr-402	723	27	)	)	PUNCT
ftr-402	723	28	(	(	PUNCT
ftr-402	723	29	0.028	0.028	NUM
ftr-402	723	30	)	)	PUNCT
ftr-402	723	31	asia	asia	NOUN
ftr-402	723	32	0.025	0.025	NUM
ftr-402	723	33	0.031	0.031	NUM
ftr-402	723	34	(	(	PUNCT
ftr-402	723	35	0.025	0.025	NUM
ftr-402	723	36	)	)	PUNCT
ftr-402	723	37	(	(	PUNCT
ftr-402	723	38	0.026	0.026	NUM
ftr-402	723	39	)	)	PUNCT
ftr-402	723	40	european	european	PROPN
ftr-402	723	41	union	union	PROPN
ftr-402	723	42	-0.031	-0.031	NOUN
ftr-402	723	43	-0.013	-0.013	PUNCT
ftr-402	723	44	(	(	PUNCT
ftr-402	723	45	0.022	0.022	NUM
ftr-402	723	46	)	)	PUNCT
ftr-402	723	47	(	(	PUNCT
ftr-402	723	48	0.023	0.023	NUM
ftr-402	723	49	)	)	PUNCT
ftr-402	723	50	constant	constant	ADJ
ftr-402	723	51	0.008	0.008	NUM
ftr-402	723	52	-0.050	-0.050	NUM
ftr-402	723	53	(	(	PUNCT
ftr-402	723	54	0.040	0.040	NUM
ftr-402	723	55	)	)	PUNCT
ftr-402	723	56	(	(	PUNCT
ftr-402	723	57	0.041	0.041	NUM
ftr-402	723	58	)	)	PUNCT
ftr-402	723	59	adjusted	adjust	VERB
ftr-402	723	60	r	r	NOUN
ftr-402	723	61	0.37	0.37	NUM
ftr-402	723	62	0.242	0.242	NUM
ftr-402	723	63	_	_	PUNCT
ftr-402	724	1	_	_	PUNCT
ftr-402	725	1	_	_	PUNCT
ftr-402	726	1	_	_	PUNCT
ftr-402	727	1	_	_	PUNCT
ftr-402	728	1	_	_	PUNCT
ftr-402	729	1	_	_	PUNCT
ftr-402	730	1	_	_	PUNCT
ftr-402	731	1	_	_	PUNCT
ftr-402	732	1	_	_	PUNCT
ftr-402	733	1	_	_	PUNCT
ftr-402	734	1	_	_	PUNCT
ftr-402	735	1	_	_	PUNCT
ftr-402	736	1	_	_	PUNCT
ftr-402	737	1	_	_	PUNCT
ftr-402	738	1	_	_	PUNCT
ftr-402	739	1	_	_	PUNCT
ftr-402	740	1	_	_	PUNCT
ftr-402	741	1	_	_	PUNCT
ftr-402	742	1	_	_	PUNCT
ftr-402	743	1	_	_	PUNCT
ftr-402	744	1	_	_	PUNCT
ftr-402	745	1	_	_	PUNCT
ftr-402	746	1	_	_	PUNCT
ftr-402	747	1	_	_	PUNCT
ftr-402	748	1	_	_	PUNCT
ftr-402	749	1	_	_	PUNCT
ftr-402	750	1	_	_	PUNCT
ftr-402	751	1	_	_	PUNCT
ftr-402	752	1	_	_	PUNCT
ftr-402	753	1	_	_	PUNCT
ftr-402	754	1	_	_	PUNCT
ftr-402	755	1	_	_	PUNCT
ftr-402	756	1	_	_	PUNCT
ftr-402	757	1	_	_	PUNCT
ftr-402	758	1	_	_	PUNCT
ftr-402	759	1	_	_	PUNCT
ftr-402	760	1	_	_	PUNCT
ftr-402	761	1	_	_	PUNCT
ftr-402	762	1	_	_	PUNCT
ftr-402	763	1	_	_	PUNCT
ftr-402	764	1	_	_	PUNCT
ftr-402	765	1	_	_	PUNCT
ftr-402	766	1	_	_	PUNCT
ftr-402	767	1	_	_	PUNCT
ftr-402	768	1	_	_	PUNCT
ftr-402	769	1	_	_	PUNCT
ftr-402	770	1	_	_	PUNCT
ftr-402	771	1	_	_	PUNCT
ftr-402	772	1	_	_	PUNCT
ftr-402	773	1	_	_	PUNCT
ftr-402	774	1	_	_	PUNCT
ftr-402	775	1	_	_	PUNCT
ftr-402	776	1	_	_	PUNCT
ftr-402	777	1	_	_	PUNCT
ftr-402	778	1	_	_	PUNCT
ftr-402	779	1	_	_	PUNCT
ftr-402	780	1	_	_	PUNCT
ftr-402	781	1	_	_	PUNCT
ftr-402	782	1	_	_	PUNCT
ftr-402	783	1	_	_	PUNCT
ftr-402	784	1	_	_	PUNCT
ftr-402	785	1	_	_	PUNCT
ftr-402	786	1	_	_	PUNCT
ftr-402	787	1	_	_	PUNCT
ftr-402	788	1	_	_	PUNCT
ftr-402	789	1	_	_	PUNCT
ftr-402	790	1	_	_	PUNCT
ftr-402	791	1	_	_	PUNCT
ftr-402	791	2	notes	note	VERB
ftr-402	791	3	:	:	PUNCT
ftr-402	791	4	the	the	DET
ftr-402	791	5	dummy	dummy	NOUN
ftr-402	791	6	for	for	ADP
ftr-402	791	7	small	small	ADJ
ftr-402	791	8	countries	country	NOUN
ftr-402	791	9	equals	equal	VERB
ftr-402	791	10	one	one	NUM
ftr-402	791	11	for	for	ADP
ftr-402	791	12	countries	country	NOUN
ftr-402	791	13	with	with	ADP
ftr-402	791	14	populations	population	NOUN
ftr-402	791	15	below	below	ADP
ftr-402	791	16	15	15	NUM
ftr-402	791	17	million	million	NUM
ftr-402	791	18	in	in	ADP
ftr-402	791	19	1992	1992	NUM
ftr-402	791	20	.	.	PUNCT
ftr-402	792	1	all	all	DET
ftr-402	792	2	regressions	regression	NOUN
ftr-402	792	3	are	be	AUX
ftr-402	792	4	weighted	weight	VERB
ftr-402	792	5	least	least	ADJ
ftr-402	792	6	squares	square	NOUN
ftr-402	792	7	using	use	VERB
ftr-402	792	8	the	the	DET
ftr-402	792	9	number	number	NOUN
ftr-402	792	10	of	of	ADP
ftr-402	792	11	cfcs	cfcs	PROPN
ftr-402	792	12	in	in	ADP
ftr-402	792	13	1992	1992	NUM
ftr-402	792	14	as	as	ADP
ftr-402	792	15	weighting	weight	VERB
ftr-402	792	16	factors	factor	NOUN
ftr-402	792	17	.	.	PUNCT
ftr-402	793	1	number	number	NOUN
ftr-402	793	2	of	of	ADP
ftr-402	793	3	observations	observation	NOUN
ftr-402	793	4	equals	equal	VERB
ftr-402	793	5	58	58	NUM
ftr-402	793	6	.	.	PUNCT
ftr-402	793	7	,	,	PUNCT
ftr-402	793	8	,	,	PUNCT
ftr-402	793	9	denote	denote	VERB
ftr-402	793	10	significance	significance	NOUN
ftr-402	793	11	a	a	DET
ftr-402	793	12	the	the	DET
ftr-402	793	13	10	10	NUM
ftr-402	793	14	%	%	NOUN
ftr-402	793	15	,	,	PUNCT
ftr-402	793	16	5	5	NUM
ftr-402	793	17	%	%	NOUN
ftr-402	793	18	,	,	PUNCT
ftr-402	793	19	*	*	PUNCT
ftr-402	794	1	*	*	PUNCT
ftr-402	794	2	*	*	PUNCT
ftr-402	795	1	*	*	PUNCT
ftr-402	795	2	*	*	PUNCT
ftr-402	795	3	*	*	PUNCT
ftr-402	795	4	and	and	CCONJ
ftr-402	795	5	1	1	NUM
ftr-402	795	6	%	%	NOUN
ftr-402	795	7	level	level	NOUN
ftr-402	795	8	respectively	respectively	ADV
ftr-402	795	9	.	.	PUNCT
ftr-402	796	1	the	the	DET
ftr-402	796	2	mean	mean	NOUN
ftr-402	796	3	of	of	ADP
ftr-402	796	4	the	the	DET
ftr-402	796	5	dependent	dependent	ADJ
ftr-402	796	6	variable	variable	NOUN
ftr-402	796	7	is	be	AUX
ftr-402	796	8	.009	.009	NUM
ftr-402	796	9	in	in	ADP
ftr-402	796	10	column	column	NOUN
ftr-402	796	11	1	1	NUM
ftr-402	796	12	and	and	CCONJ
ftr-402	796	13	.035	.035	NUM
ftr-402	796	14	in	in	ADP
ftr-402	796	15	column	column	NOUN
ftr-402	796	16	2	2	NUM
ftr-402	796	17	.	.	PUNCT
ftr-402	796	18	source	source	NOUN
ftr-402	796	19	:	:	PUNCT
ftr-402	796	20	treasury	treasury	NOUN
ftr-402	796	21	tax	tax	NOUN
ftr-402	796	22	files	file	NOUN
ftr-402	796	23	.	.	PUNCT
ftr-402	797	1	2005	2005	NUM
ftr-402	797	2	]	]	PUNCT
ftr-402	797	3	the	the	DET
ftr-402	797	4	three	three	NUM
ftr-402	797	5	parties	party	NOUN
ftr-402	797	6	in	in	ADP
ftr-402	797	7	the	the	DET
ftr-402	797	8	race	race	NOUN
ftr-402	797	9	to	to	ADP
ftr-402	797	10	the	the	DET
ftr-402	797	11	bottom	bottom	ADJ
ftr-402	797	12	175	175	NUM
ftr-402	797	13	table	table	NOUN
ftr-402	797	14	3	3	NUM
ftr-402	797	15	analysis	analysis	NOUN
ftr-402	797	16	of	of	ADP
ftr-402	797	17	change	change	NOUN
ftr-402	797	18	in	in	ADP
ftr-402	797	19	country	country	NOUN
ftr-402	797	20	average	average	ADJ
ftr-402	797	21	effective	effective	ADJ
ftr-402	797	22	tax	tax	NOUN
ftr-402	797	23	rates	rate	NOUN
ftr-402	797	24	between	between	ADP
ftr-402	797	25	1998	1998	NUM
ftr-402	797	26	and	and	CCONJ
ftr-402	797	27	2000	2000	NUM
ftr-402	797	28	:	:	PUNCT
ftr-402	797	29	country	country	NOUN
ftr-402	797	30	versus	versus	ADP
ftr-402	797	31	company	company	NOUN
ftr-402	797	32	responses	response	NOUN
ftr-402	797	33	?	?	PUNCT
ftr-402	798	1	_	_	PUNCT
ftr-402	799	1	_	_	PUNCT
ftr-402	800	1	_	_	PUNCT
ftr-402	801	1	_	_	PUNCT
ftr-402	802	1	_	_	PUNCT
ftr-402	803	1	_	_	PUNCT
ftr-402	804	1	_	_	PUNCT
ftr-402	805	1	_	_	PUNCT
ftr-402	806	1	_	_	PUNCT
ftr-402	807	1	_	_	PUNCT
ftr-402	808	1	_	_	PUNCT
ftr-402	809	1	_	_	PUNCT
ftr-402	810	1	_	_	PUNCT
ftr-402	811	1	_	_	PUNCT
ftr-402	812	1	_	_	PUNCT
ftr-402	813	1	_	_	PUNCT
ftr-402	814	1	_	_	PUNCT
ftr-402	815	1	_	_	PUNCT
ftr-402	816	1	_	_	PUNCT
ftr-402	817	1	_	_	PUNCT
ftr-402	818	1	_	_	PUNCT
ftr-402	819	1	_	_	PUNCT
ftr-402	820	1	_	_	PUNCT
ftr-402	821	1	_	_	PUNCT
ftr-402	822	1	_	_	PUNCT
ftr-402	823	1	_	_	PUNCT
ftr-402	824	1	_	_	PUNCT
ftr-402	825	1	_	_	PUNCT
ftr-402	826	1	_	_	PUNCT
ftr-402	827	1	_	_	PUNCT
ftr-402	828	1	_	_	PUNCT
ftr-402	829	1	_	_	PUNCT
ftr-402	830	1	_	_	PUNCT
ftr-402	831	1	_	_	PUNCT
ftr-402	832	1	_	_	PUNCT
ftr-402	833	1	_	_	PUNCT
ftr-402	834	1	_	_	PUNCT
ftr-402	835	1	_	_	PUNCT
ftr-402	836	1	_	_	PUNCT
ftr-402	837	1	_	_	PUNCT
ftr-402	838	1	_	_	PUNCT
ftr-402	839	1	_	_	PUNCT
ftr-402	840	1	_	_	PUNCT
ftr-402	841	1	_	_	PUNCT
ftr-402	842	1	_	_	PUNCT
ftr-402	843	1	_	_	PUNCT
ftr-402	844	1	_	_	PUNCT
ftr-402	845	1	_	_	PUNCT
ftr-402	846	1	_	_	PUNCT
ftr-402	847	1	_	_	PUNCT
ftr-402	848	1	_	_	PUNCT
ftr-402	849	1	_	_	PUNCT
ftr-402	850	1	_	_	PUNCT
ftr-402	851	1	_	_	PUNCT
ftr-402	852	1	_	_	PUNCT
ftr-402	853	1	_	_	PUNCT
ftr-402	854	1	_	_	PUNCT
ftr-402	855	1	_	_	PUNCT
ftr-402	856	1	_	_	PUNCT
ftr-402	857	1	_	_	PUNCT
ftr-402	858	1	_	_	PUNCT
ftr-402	859	1	_	_	PUNCT
ftr-402	860	1	_	_	PUNCT
ftr-402	861	1	_	_	PUNCT
ftr-402	862	1	_	_	PUNCT
ftr-402	863	1	_	_	PUNCT
ftr-402	864	1	_	_	PUNCT
ftr-402	865	1	_	_	PUNCT
ftr-402	866	1	_	_	PUNCT
ftr-402	867	1	independent	independent	ADJ
ftr-402	867	2	variables	variable	NOUN
ftr-402	867	3	dependent	dependent	ADJ
ftr-402	867	4	variables	variable	NOUN
ftr-402	867	5	aetr	aetr	ADV
ftr-402	867	6	for	for	ADP
ftr-402	867	7	1998	1998	NUM
ftr-402	867	8	aetr	aetr	NOUN
ftr-402	867	9	for	for	ADP
ftr-402	867	10	2000	2000	NUM
ftr-402	867	11	(	(	PUNCT
ftr-402	867	12	1	1	NUM
ftr-402	867	13	)	)	PUNCT
ftr-402	867	14	(	(	PUNCT
ftr-402	867	15	2	2	NUM
ftr-402	867	16	)	)	PUNCT
ftr-402	867	17	(	(	PUNCT
ftr-402	867	18	3	3	X
ftr-402	867	19	)	)	PUNCT
ftr-402	867	20	(	(	PUNCT
ftr-402	867	21	4	4	NUM
ftr-402	867	22	)	)	PUNCT
ftr-402	867	23	(	(	PUNCT
ftr-402	867	24	5	5	X
ftr-402	867	25	)	)	PUNCT
ftr-402	867	26	aetr	aetr	NOUN
ftr-402	867	27	for	for	ADP
ftr-402	867	28	1996	1996	NUM
ftr-402	867	29	0.100	0.100	NUM
ftr-402	867	30	0.102	0.102	NUM
ftr-402	867	31	(	(	PUNCT
ftr-402	867	32	0.064	0.064	NUM
ftr-402	867	33	)	)	PUNCT
ftr-402	867	34	(	(	PUNCT
ftr-402	867	35	0.067	0.067	NUM
ftr-402	867	36	)	)	PUNCT
ftr-402	867	37	statutory	statutory	ADJ
ftr-402	867	38	rate	rate	NOUN
ftr-402	867	39	for	for	ADP
ftr-402	867	40	1998	1998	NUM
ftr-402	867	41	0.102	0.102	NUM
ftr-402	867	42	0.077	0.077	NUM
ftr-402	867	43	0.095	0.095	NUM
ftr-402	867	44	*	*	PUNCT
ftr-402	867	45	(	(	PUNCT
ftr-402	867	46	0.061	0.061	NUM
ftr-402	867	47	)	)	PUNCT
ftr-402	867	48	(	(	PUNCT
ftr-402	867	49	0.066	0.066	NUM
ftr-402	867	50	)	)	PUNCT
ftr-402	867	51	(	(	PUNCT
ftr-402	867	52	0.063	0.063	NUM
ftr-402	867	53	)	)	PUNCT
ftr-402	867	54	log	log	NOUN
ftr-402	867	55	(	(	PUNCT
ftr-402	867	56	capital	capital	NOUN
ftr-402	867	57	in	in	ADP
ftr-402	867	58	1998)-log	1998)-log	NUM
ftr-402	867	59	(	(	PUNCT
ftr-402	867	60	capital	capital	NOUN
ftr-402	867	61	-0.005	-0.005	PUNCT
ftr-402	867	62	in	in	ADP
ftr-402	867	63	1992	1992	NUM
ftr-402	867	64	)	)	PUNCT
ftr-402	867	65	(	(	PUNCT
ftr-402	867	66	0.013	0.013	NUM
ftr-402	867	67	)	)	PUNCT
ftr-402	867	68	dummy	dummy	NOUN
ftr-402	867	69	for	for	ADP
ftr-402	867	70	small	small	ADJ
ftr-402	867	71	countries	country	NOUN
ftr-402	867	72	-0.018	-0.018	PUNCT
ftr-402	867	73	-0.017	-0.017	X
ftr-402	867	74	-0.017	-0.017	X
ftr-402	867	75	-0.018	-0.018	PUNCT
ftr-402	867	76	-0.016	-0.016	X
ftr-402	867	77	(	(	PUNCT
ftr-402	867	78	0.013	0.013	NUM
ftr-402	867	79	)	)	PUNCT
ftr-402	867	80	(	(	PUNCT
ftr-402	867	81	0.014	0.014	NUM
ftr-402	867	82	)	)	PUNCT
ftr-402	867	83	(	(	PUNCT
ftr-402	867	84	0.013	0.013	NUM
ftr-402	867	85	)	)	PUNCT
ftr-402	867	86	(	(	PUNCT
ftr-402	867	87	0.014	0.014	NUM
ftr-402	867	88	)	)	PUNCT
ftr-402	867	89	(	(	PUNCT
ftr-402	867	90	0.013	0.013	NUM
ftr-402	867	91	)	)	PUNCT
ftr-402	867	92	regional	regional	ADJ
ftr-402	867	93	dummies	dummies	PROPN
ftr-402	867	94	latin	latin	PROPN
ftr-402	867	95	america	america	PROPN
ftr-402	867	96	0.026	0.026	NUM
ftr-402	867	97	0.022	0.022	NUM
ftr-402	867	98	(	(	PUNCT
ftr-402	867	99	0.020	0.020	NUM
ftr-402	867	100	)	)	PUNCT
ftr-402	867	101	(	(	PUNCT
ftr-402	867	102	0.020	0.020	NUM
ftr-402	867	103	)	)	PUNCT
ftr-402	867	104	north	north	PROPN
ftr-402	867	105	america	america	PROPN
ftr-402	867	106	0.021	0.021	NUM
ftr-402	867	107	0.005	0.005	NUM
ftr-402	867	108	(	(	PUNCT
ftr-402	867	109	0.021	0.021	NUM
ftr-402	867	110	)	)	PUNCT
ftr-402	867	111	(	(	PUNCT
ftr-402	867	112	0.021	0.021	NUM
ftr-402	867	113	)	)	PUNCT
ftr-402	867	114	asia	asia	PROPN
ftr-402	867	115	0.020	0.020	NUM
ftr-402	867	116	0.019	0.019	NUM
ftr-402	867	117	(	(	PUNCT
ftr-402	867	118	0.019	0.019	NUM
ftr-402	867	119	)	)	PUNCT
ftr-402	867	120	(	(	PUNCT
ftr-402	867	121	0.019	0.019	NUM
ftr-402	867	122	)	)	PUNCT
ftr-402	867	123	european	european	PROPN
ftr-402	867	124	union	union	PROPN
ftr-402	868	1	0.035	0.035	NUM
ftr-402	868	2	0.031	0.031	NUM
ftr-402	868	3	*	*	PUNCT
ftr-402	868	4	*	*	PUNCT
ftr-402	868	5	*	*	PUNCT
ftr-402	868	6	(	(	PUNCT
ftr-402	868	7	0.016	0.016	NUM
ftr-402	868	8	)	)	PUNCT
ftr-402	868	9	(	(	PUNCT
ftr-402	868	10	0.016	0.016	NUM
ftr-402	868	11	)	)	PUNCT
ftr-402	868	12	constant	constant	ADJ
ftr-402	868	13	0.009	0.009	NUM
ftr-402	868	14	-0.014	-0.014	NOUN
ftr-402	868	15	-0.003	-0.003	NOUN
ftr-402	868	16	-0.013	-0.013	NOUN
ftr-402	868	17	0.001	0.001	NUM
ftr-402	868	18	(	(	PUNCT
ftr-402	868	19	0.018	0.018	NUM
ftr-402	868	20	)	)	PUNCT
ftr-402	868	21	(	(	PUNCT
ftr-402	868	22	0.024	0.024	NUM
ftr-402	868	23	)	)	PUNCT
ftr-402	868	24	(	(	PUNCT
ftr-402	868	25	0.023	0.023	NUM
ftr-402	868	26	)	)	PUNCT
ftr-402	868	27	(	(	PUNCT
ftr-402	868	28	0.028	0.028	NUM
ftr-402	868	29	)	)	PUNCT
ftr-402	868	30	(	(	PUNCT
ftr-402	868	31	0.026	0.026	NUM
ftr-402	868	32	)	)	PUNCT
ftr-402	868	33	adjusted	adjust	VERB
ftr-402	868	34	r	r	NOUN
ftr-402	868	35	0.09	0.09	NUM
ftr-402	868	36	0.12	0.12	NUM
ftr-402	868	37	0.09	0.09	NUM
ftr-402	868	38	0.11	0.11	NUM
ftr-402	868	39	0.082	0.082	NUM
ftr-402	868	40	_	_	PUNCT
ftr-402	869	1	_	_	PUNCT
ftr-402	870	1	_	_	PUNCT
ftr-402	871	1	_	_	PUNCT
ftr-402	872	1	_	_	PUNCT
ftr-402	873	1	_	_	PUNCT
ftr-402	874	1	_	_	PUNCT
ftr-402	875	1	_	_	PUNCT
ftr-402	876	1	_	_	PUNCT
ftr-402	877	1	_	_	PUNCT
ftr-402	878	1	_	_	PUNCT
ftr-402	879	1	_	_	PUNCT
ftr-402	880	1	_	_	PUNCT
ftr-402	881	1	_	_	PUNCT
ftr-402	882	1	_	_	PUNCT
ftr-402	883	1	_	_	PUNCT
ftr-402	884	1	_	_	PUNCT
ftr-402	885	1	_	_	PUNCT
ftr-402	886	1	_	_	PUNCT
ftr-402	887	1	_	_	PUNCT
ftr-402	888	1	_	_	PUNCT
ftr-402	889	1	_	_	PUNCT
ftr-402	890	1	_	_	PUNCT
ftr-402	891	1	_	_	PUNCT
ftr-402	892	1	_	_	PUNCT
ftr-402	893	1	_	_	PUNCT
ftr-402	894	1	_	_	PUNCT
ftr-402	895	1	_	_	PUNCT
ftr-402	896	1	_	_	PUNCT
ftr-402	897	1	_	_	PUNCT
ftr-402	898	1	_	_	PUNCT
ftr-402	899	1	_	_	PUNCT
ftr-402	900	1	_	_	PUNCT
ftr-402	901	1	_	_	PUNCT
ftr-402	902	1	_	_	PUNCT
ftr-402	903	1	_	_	PUNCT
ftr-402	904	1	_	_	PUNCT
ftr-402	905	1	_	_	PUNCT
ftr-402	906	1	_	_	PUNCT
ftr-402	907	1	_	_	PUNCT
ftr-402	908	1	_	_	PUNCT
ftr-402	909	1	_	_	PUNCT
ftr-402	910	1	_	_	PUNCT
ftr-402	911	1	_	_	PUNCT
ftr-402	912	1	_	_	PUNCT
ftr-402	913	1	_	_	PUNCT
ftr-402	914	1	_	_	PUNCT
ftr-402	915	1	_	_	PUNCT
ftr-402	916	1	_	_	PUNCT
ftr-402	917	1	_	_	PUNCT
ftr-402	918	1	_	_	PUNCT
ftr-402	919	1	_	_	PUNCT
ftr-402	920	1	_	_	PUNCT
ftr-402	921	1	_	_	PUNCT
ftr-402	922	1	_	_	PUNCT
ftr-402	923	1	_	_	PUNCT
ftr-402	924	1	_	_	PUNCT
ftr-402	925	1	_	_	PUNCT
ftr-402	926	1	_	_	PUNCT
ftr-402	927	1	_	_	PUNCT
ftr-402	928	1	_	_	PUNCT
ftr-402	929	1	_	_	PUNCT
ftr-402	930	1	_	_	PUNCT
ftr-402	931	1	_	_	PUNCT
ftr-402	932	1	_	_	PUNCT
ftr-402	933	1	_	_	PUNCT
ftr-402	934	1	_	_	PUNCT
ftr-402	935	1	_	_	PUNCT
ftr-402	936	1	_	_	PUNCT
ftr-402	936	2	notes	note	VERB
ftr-402	936	3	:	:	PUNCT
ftr-402	936	4	the	the	DET
ftr-402	936	5	dummy	dummy	NOUN
ftr-402	936	6	for	for	ADP
ftr-402	936	7	small	small	ADJ
ftr-402	936	8	countries	country	NOUN
ftr-402	936	9	equals	equal	VERB
ftr-402	936	10	one	one	NUM
ftr-402	936	11	for	for	ADP
ftr-402	936	12	countries	country	NOUN
ftr-402	936	13	with	with	ADP
ftr-402	936	14	populations	population	NOUN
ftr-402	936	15	below	below	ADP
ftr-402	936	16	15	15	NUM
ftr-402	936	17	million	million	NUM
ftr-402	936	18	in	in	ADP
ftr-402	936	19	1992	1992	NUM
ftr-402	936	20	.	.	PUNCT
ftr-402	937	1	all	all	DET
ftr-402	937	2	regressions	regression	NOUN
ftr-402	937	3	are	be	AUX
ftr-402	937	4	weighted	weight	VERB
ftr-402	937	5	least	least	ADJ
ftr-402	937	6	squares	square	NOUN
ftr-402	937	7	using	use	VERB
ftr-402	937	8	the	the	DET
ftr-402	937	9	number	number	NOUN
ftr-402	937	10	of	of	ADP
ftr-402	937	11	cfcs	cfcs	PROPN
ftr-402	937	12	in	in	ADP
ftr-402	937	13	1992	1992	NUM
ftr-402	937	14	as	as	ADP
ftr-402	937	15	weighing	weigh	VERB
ftr-402	937	16	factors	factor	NOUN
ftr-402	937	17	.	.	PUNCT
ftr-402	938	1	number	number	NOUN
ftr-402	938	2	of	of	ADP
ftr-402	938	3	observations	observation	NOUN
ftr-402	938	4	equals	equal	VERB
ftr-402	938	5	58	58	NUM
ftr-402	938	6	.	.	PUNCT
ftr-402	938	7	,	,	PUNCT
ftr-402	938	8	,	,	PUNCT
ftr-402	938	9	denote	denote	VERB
ftr-402	938	10	significance	significance	NOUN
ftr-402	938	11	at	at	ADP
ftr-402	938	12	the	the	DET
ftr-402	938	13	10	10	NUM
ftr-402	938	14	%	%	NOUN
ftr-402	938	15	,	,	PUNCT
ftr-402	938	16	5	5	NUM
ftr-402	938	17	%	%	NOUN
ftr-402	938	18	,	,	PUNCT
ftr-402	938	19	*	*	PUNCT
ftr-402	939	1	*	*	PUNCT
ftr-402	939	2	*	*	PUNCT
ftr-402	940	1	*	*	PUNCT
ftr-402	940	2	*	*	PUNCT
ftr-402	940	3	*	*	PUNCT
ftr-402	940	4	and	and	CCONJ
ftr-402	940	5	1	1	NUM
ftr-402	940	6	%	%	NOUN
ftr-402	940	7	level	level	NOUN
ftr-402	940	8	respectively	respectively	ADV
ftr-402	940	9	.	.	PUNCT
ftr-402	941	1	the	the	DET
ftr-402	941	2	mean	mean	NOUN
ftr-402	941	3	of	of	ADP
ftr-402	941	4	the	the	DET
ftr-402	941	5	dependent	dependent	ADJ
ftr-402	941	6	variable	variable	NOUN
ftr-402	941	7	is	be	AUX
ftr-402	941	8	.026	.026	NUM
ftr-402	941	9	.	.	PUNCT
ftr-402	942	1	source	source	NOUN
ftr-402	942	2	:	:	PUNCT
ftr-402	942	3	treasury	treasury	NOUN
ftr-402	942	4	tax	tax	NOUN
ftr-402	942	5	files	file	NOUN
ftr-402	942	6	.	.	PUNCT
ftr-402	943	1	176	176	NUM
ftr-402	943	2	florida	florida	PROPN
ftr-402	943	3	tax	tax	NOUN
ftr-402	943	4	review	review	NOUN
ftr-402	943	5	[	[	X
ftr-402	943	6	vol.7:3	vol.7:3	NOUN
ftr-402	943	7	table	table	NOUN
ftr-402	943	8	4	4	NUM
ftr-402	943	9	the	the	DET
ftr-402	943	10	relationship	relationship	NOUN
ftr-402	943	11	between	between	ADP
ftr-402	943	12	effective	effective	ADJ
ftr-402	943	13	and	and	CCONJ
ftr-402	943	14	statutory	statutory	ADJ
ftr-402	943	15	tax	tax	NOUN
ftr-402	943	16	rates	rate	NOUN
ftr-402	943	17	at	at	ADP
ftr-402	943	18	the	the	DET
ftr-402	943	19	cfc	cfc	NOUN
ftr-402	943	20	-	-	PUNCT
ftr-402	943	21	level	level	NOUN
ftr-402	943	22	a	a	DET
ftr-402	943	23	comparison	comparison	NOUN
ftr-402	943	24	of	of	ADP
ftr-402	943	25	1996	1996	NUM
ftr-402	943	26	and	and	CCONJ
ftr-402	943	27	2000	2000	NUM
ftr-402	943	28	dependent	dependent	ADJ
ftr-402	943	29	variable	variable	NOUN
ftr-402	943	30	=	=	PUNCT
ftr-402	943	31	cfc	cfc	VERB
ftr-402	943	32	effective	effective	ADJ
ftr-402	943	33	tax	tax	NOUN
ftr-402	943	34	rate	rate	NOUN
ftr-402	943	35	independent	independent	ADJ
ftr-402	943	36	variables	variable	NOUN
ftr-402	943	37	dependent	dependent	ADJ
ftr-402	943	38	variables	variable	NOUN
ftr-402	943	39	weighted	weight	VERB
ftr-402	943	40	weighted	weight	VERB
ftr-402	943	41	unweighted	unweighte	VERB
ftr-402	943	42	unweighted	unweighte	VERB
ftr-402	943	43	by	by	ADP
ftr-402	943	44	sales	sale	NOUN
ftr-402	943	45	by	by	ADP
ftr-402	943	46	sales	sale	NOUN
ftr-402	943	47	1996	1996	NUM
ftr-402	943	48	2000	2000	NUM
ftr-402	943	49	1996	1996	NUM
ftr-402	943	50	2000	2000	NUM
ftr-402	943	51	country	country	NOUN
ftr-402	943	52	statutory	statutory	ADJ
ftr-402	943	53	rate	rate	NOUN
ftr-402	943	54	0.508	0.508	NUM
ftr-402	943	55	0.398	0.398	NUM
ftr-402	943	56	0.717	0.717	NUM
ftr-402	943	57	0.509	0.509	NUM
ftr-402	943	58	*	*	PUNCT
ftr-402	943	59	*	*	PUNCT
ftr-402	943	60	*	*	PUNCT
ftr-402	944	1	*	*	PUNCT
ftr-402	944	2	*	*	PUNCT
ftr-402	944	3	*	*	PUNCT
ftr-402	945	1	*	*	PUNCT
ftr-402	945	2	*	*	PUNCT
ftr-402	945	3	*	*	PUNCT
ftr-402	945	4	*	*	PUNCT
ftr-402	945	5	*	*	PUNCT
ftr-402	945	6	*	*	PUNCT
ftr-402	945	7	(	(	PUNCT
ftr-402	945	8	0.037	0.037	NUM
ftr-402	945	9	)	)	PUNCT
ftr-402	945	10	(	(	PUNCT
ftr-402	945	11	0.052	0.052	NUM
ftr-402	945	12	)	)	PUNCT
ftr-402	945	13	(	(	PUNCT
ftr-402	945	14	0.034	0.034	NUM
ftr-402	945	15	)	)	PUNCT
ftr-402	945	16	(	(	PUNCT
ftr-402	945	17	0.050	0.050	NUM
ftr-402	945	18	)	)	PUNCT
ftr-402	945	19	cfc	cfc	NOUN
ftr-402	945	20	age	age	NOUN
ftr-402	945	21	<	<	X
ftr-402	945	22	5	5	NUM
ftr-402	945	23	years	year	NOUN
ftr-402	945	24	-0.066	-0.066	PROPN
ftr-402	945	25	-0.075	-0.075	NUM
ftr-402	945	26	-0.001	-0.001	PUNCT
ftr-402	945	27	-0.050	-0.050	PUNCT
ftr-402	946	1	*	*	PUNCT
ftr-402	946	2	*	*	PUNCT
ftr-402	946	3	*	*	PUNCT
ftr-402	947	1	*	*	PUNCT
ftr-402	947	2	*	*	PUNCT
ftr-402	947	3	*	*	PUNCT
ftr-402	948	1	*	*	PUNCT
ftr-402	948	2	*	*	PUNCT
ftr-402	948	3	*	*	PUNCT
ftr-402	948	4	(	(	PUNCT
ftr-402	948	5	0.014	0.014	NUM
ftr-402	948	6	)	)	PUNCT
ftr-402	948	7	(	(	PUNCT
ftr-402	948	8	0.014	0.014	NUM
ftr-402	948	9	)	)	PUNCT
ftr-402	948	10	(	(	PUNCT
ftr-402	948	11	0.015	0.015	NUM
ftr-402	948	12	)	)	PUNCT
ftr-402	948	13	(	(	PUNCT
ftr-402	948	14	0.013	0.013	NUM
ftr-402	948	15	)	)	PUNCT
ftr-402	948	16	-0.014cfc	-0.014cfc	ADJ
ftr-402	948	17	age	age	NOUN
ftr-402	948	18	5	5	NUM
ftr-402	948	19	15	15	NUM
ftr-402	948	20	years	year	NOUN
ftr-402	948	21	-0.018	-0.018	PUNCT
ftr-402	948	22	-0.024	-0.024	PUNCT
ftr-402	948	23	-0.019	-0.019	PUNCT
ftr-402	948	24	*	*	PUNCT
ftr-402	949	1	*	*	PUNCT
ftr-402	949	2	*	*	PUNCT
ftr-402	949	3	*	*	PUNCT
ftr-402	949	4	(	(	PUNCT
ftr-402	949	5	0.010	0.010	NUM
ftr-402	949	6	)	)	PUNCT
ftr-402	949	7	(	(	PUNCT
ftr-402	949	8	0.012	0.012	NUM
ftr-402	949	9	)	)	PUNCT
ftr-402	949	10	(	(	PUNCT
ftr-402	949	11	0.010	0.010	NUM
ftr-402	949	12	)	)	PUNCT
ftr-402	949	13	(	(	PUNCT
ftr-402	949	14	0.013	0.013	NUM
ftr-402	949	15	)	)	PUNCT
ftr-402	949	16	parent	parent	NOUN
ftr-402	950	1	advertising/	advertising/	NUM
ftr-402	950	2	0.022	0.022	NUM
ftr-402	950	3	0.218	0.218	NUM
ftr-402	950	4	0.086	0.086	NUM
ftr-402	950	5	0.081	0.081	NUM
ftr-402	950	6	*	*	PUNCT
ftr-402	950	7	total	total	ADJ
ftr-402	950	8	sales	sale	NOUN
ftr-402	950	9	(	(	PUNCT
ftr-402	950	10	0.096	0.096	NUM
ftr-402	950	11	)	)	PUNCT
ftr-402	950	12	(	(	PUNCT
ftr-402	950	13	0.120	0.120	NUM
ftr-402	950	14	)	)	PUNCT
ftr-402	950	15	(	(	PUNCT
ftr-402	950	16	0.106	0.106	NUM
ftr-402	950	17	)	)	PUNCT
ftr-402	950	18	(	(	PUNCT
ftr-402	950	19	0.135	0.135	NUM
ftr-402	950	20	)	)	PUNCT
ftr-402	950	21	parent	parent	NOUN
ftr-402	950	22	r&d/	r&d/	NOUN
ftr-402	950	23	0.626	0.626	NUM
ftr-402	950	24	0.295	0.295	NUM
ftr-402	950	25	0.981	0.981	NUM
ftr-402	950	26	-0.575	-0.575	NOUN
ftr-402	950	27	*	*	PUNCT
ftr-402	950	28	*	*	PUNCT
ftr-402	951	1	*	*	PUNCT
ftr-402	951	2	*	*	PUNCT
ftr-402	951	3	*	*	PUNCT
ftr-402	951	4	*	*	PUNCT
ftr-402	951	5	*	*	PUNCT
ftr-402	951	6	*	*	PUNCT
ftr-402	951	7	*	*	PUNCT
ftr-402	951	8	total	total	ADJ
ftr-402	951	9	sales	sale	NOUN
ftr-402	951	10	(	(	PUNCT
ftr-402	951	11	0.271	0.271	NUM
ftr-402	951	12	)	)	PUNCT
ftr-402	951	13	(	(	PUNCT
ftr-402	951	14	0.177	0.177	NUM
ftr-402	951	15	)	)	PUNCT
ftr-402	951	16	(	(	PUNCT
ftr-402	951	17	0.270	0.270	NUM
ftr-402	951	18	)	)	PUNCT
ftr-402	951	19	(	(	PUNCT
ftr-402	951	20	0.172	0.172	NUM
ftr-402	951	21	)	)	PUNCT
ftr-402	951	22	cfc	cfc	NOUN
ftr-402	951	23	earnings	earning	NOUN
ftr-402	951	24	and	and	CCONJ
ftr-402	951	25	-0.043	-0.043	ADJ
ftr-402	951	26	-0.110	-0.110	PROPN
ftr-402	951	27	0.024	0.024	NUM
ftr-402	951	28	-0.093	-0.093	NOUN
ftr-402	951	29	*	*	PUNCT
ftr-402	951	30	*	*	PUNCT
ftr-402	951	31	*	*	PUNCT
ftr-402	951	32	*	*	PUNCT
ftr-402	951	33	*	*	NOUN
ftr-402	951	34	profits	profit	NOUN
ftr-402	951	35	/	/	SYM
ftr-402	951	36	total	total	ADJ
ftr-402	951	37	sales	sale	NOUN
ftr-402	951	38	(	(	PUNCT
ftr-402	951	39	0.031	0.031	NUM
ftr-402	951	40	)	)	PUNCT
ftr-402	951	41	(	(	PUNCT
ftr-402	951	42	0.034	0.034	NUM
ftr-402	951	43	)	)	PUNCT
ftr-402	951	44	(	(	PUNCT
ftr-402	951	45	0.039	0.039	NUM
ftr-402	951	46	)	)	PUNCT
ftr-402	951	47	(	(	PUNCT
ftr-402	951	48	0.036	0.036	X
ftr-402	951	49	)	)	PUNCT
ftr-402	951	50	constant	constant	ADJ
ftr-402	951	51	0.059	0.059	NUM
ftr-402	951	52	0.107	0.107	NUM
ftr-402	951	53	-0.038	-0.038	NOUN
ftr-402	951	54	0.100	0.100	NUM
ftr-402	951	55	*	*	PUNCT
ftr-402	951	56	*	*	PUNCT
ftr-402	951	57	*	*	PUNCT
ftr-402	952	1	*	*	PUNCT
ftr-402	952	2	*	*	PUNCT
ftr-402	952	3	*	*	PUNCT
ftr-402	953	1	*	*	PUNCT
ftr-402	953	2	*	*	PUNCT
ftr-402	953	3	*	*	PUNCT
ftr-402	953	4	*	*	PUNCT
ftr-402	953	5	*	*	PUNCT
ftr-402	953	6	(	(	PUNCT
ftr-402	953	7	0.016	0.016	NUM
ftr-402	953	8	)	)	PUNCT
ftr-402	953	9	(	(	PUNCT
ftr-402	953	10	0.020	0.020	NUM
ftr-402	953	11	)	)	PUNCT
ftr-402	953	12	0.20	0.20	NUM
ftr-402	953	13	0.14	0.14	NUM
ftr-402	953	14	adjusted	adjust	VERB
ftr-402	953	15	r	r	NOUN
ftr-402	953	16	0.10	0.10	NUM
ftr-402	953	17	0.08	0.08	NUM
ftr-402	953	18	0.20	0.20	NUM
ftr-402	953	19	0.142	0.142	NUM
ftr-402	953	20	mean	mean	NOUN
ftr-402	953	21	of	of	ADP
ftr-402	953	22	dependent	dependent	ADJ
ftr-402	953	23	variable	variable	NOUN
ftr-402	953	24	.232	.232	NUM
ftr-402	953	25	.215	.215	NUM
ftr-402	953	26	.238	.238	NUM
ftr-402	953	27	.224	.224	NUM
ftr-402	953	28	number	number	NOUN
ftr-402	953	29	of	of	ADP
ftr-402	953	30	observations	observation	NOUN
ftr-402	953	31	1865	1865	NUM
ftr-402	953	32	1327	1327	NUM
ftr-402	953	33	1865	1865	NUM
ftr-402	953	34	1327	1327	NUM
ftr-402	953	35	notes	note	NOUN
ftr-402	953	36	:	:	PUNCT
ftr-402	953	37	,	,	PUNCT
ftr-402	953	38	,	,	PUNCT
ftr-402	953	39	denote	denote	VERB
ftr-402	953	40	significance	significance	NOUN
ftr-402	953	41	at	at	ADP
ftr-402	953	42	the	the	DET
ftr-402	953	43	10	10	NUM
ftr-402	953	44	%	%	NOUN
ftr-402	953	45	,	,	PUNCT
ftr-402	953	46	5	5	NUM
ftr-402	953	47	%	%	NOUN
ftr-402	953	48	,	,	PUNCT
ftr-402	953	49	and	and	CCONJ
ftr-402	953	50	1	1	NUM
ftr-402	953	51	%	%	NOUN
ftr-402	953	52	level	level	NOUN
ftr-402	953	53	respectively	respectively	ADV
ftr-402	953	54	.	.	PUNCT
ftr-402	954	1	standard	standard	PROPN
ftr-402	954	2	*	*	PUNCT
ftr-402	955	1	*	*	PUNCT
ftr-402	955	2	*	*	PUNCT
ftr-402	955	3	*	*	PUNCT
ftr-402	955	4	*	*	PUNCT
ftr-402	955	5	*	*	VERB
ftr-402	955	6	errors	error	NOUN
ftr-402	955	7	in	in	ADP
ftr-402	955	8	parentheses	parenthesis	NOUN
ftr-402	955	9	.	.	PUNCT
ftr-402	956	1	source	source	NOUN
ftr-402	956	2	:	:	PUNCT
ftr-402	956	3	treasury	treasury	NOUN
ftr-402	956	4	tax	tax	NOUN
ftr-402	956	5	files	file	NOUN
ftr-402	956	6	.	.	PUNCT
ftr-402	957	1	2005	2005	NUM
ftr-402	957	2	]	]	PUNCT
ftr-402	957	3	the	the	DET
ftr-402	957	4	three	three	NUM
ftr-402	957	5	parties	party	NOUN
ftr-402	957	6	in	in	ADP
ftr-402	957	7	the	the	DET
ftr-402	957	8	race	race	NOUN
ftr-402	957	9	to	to	ADP
ftr-402	957	10	the	the	DET
ftr-402	957	11	bottom	bottom	ADJ
ftr-402	957	12	177	177	NUM
ftr-402	957	13	table	table	NOUN
ftr-402	957	14	5a	5a	NUM
ftr-402	957	15	comparison	comparison	NOUN
ftr-402	957	16	of	of	ADP
ftr-402	957	17	income	income	NOUN
ftr-402	957	18	shifting	shift	VERB
ftr-402	957	19	in	in	ADP
ftr-402	957	20	1996	1996	NUM
ftr-402	957	21	and	and	CCONJ
ftr-402	957	22	2000	2000	NUM
ftr-402	957	23	dependent	dependent	ADJ
ftr-402	957	24	variable	variable	NOUN
ftr-402	957	25	is	be	AUX
ftr-402	957	26	pre	pre	ADJ
ftr-402	957	27	-	-	ADJ
ftr-402	957	28	tax	tax	ADJ
ftr-402	957	29	earnings	earning	NOUN
ftr-402	957	30	and	and	CCONJ
ftr-402	957	31	profits	profit	NOUN
ftr-402	957	32	/	/	SYM
ftr-402	957	33	cfc	cfc	NOUN
ftr-402	957	34	sales	sale	NOUN
ftr-402	957	35	all	all	DET
ftr-402	957	36	manufacturing	manufacturing	NOUN
ftr-402	957	37	cfcs	cfc	NOUN
ftr-402	957	38	with	with	ADP
ftr-402	957	39	positive	positive	ADJ
ftr-402	957	40	income	income	NOUN
ftr-402	957	41	1996	1996	NUM
ftr-402	957	42	2000	2000	NUM
ftr-402	957	43	cfc	cfc	NOUN
ftr-402	957	44	age	age	NOUN
ftr-402	957	45	<	<	X
ftr-402	957	46	5	5	NUM
ftr-402	957	47	years	year	NOUN
ftr-402	957	48	-.0021	-.0021	PUNCT
ftr-402	957	49	.0296	.0296	PROPN
ftr-402	957	50	(	(	PUNCT
ftr-402	957	51	.0046	.0046	PROPN
ftr-402	957	52	)	)	PUNCT
ftr-402	957	53	(	(	PUNCT
ftr-402	957	54	.0042	.0042	NOUN
ftr-402	957	55	)	)	PUNCT
ftr-402	957	56	cfc	cfc	PROPN
ftr-402	957	57	age	age	NOUN
ftr-402	957	58	5	5	NUM
ftr-402	957	59	-	-	SYM
ftr-402	957	60	15	15	NUM
ftr-402	957	61	years	year	NOUN
ftr-402	957	62	.0085	.0085	ADJ
ftr-402	957	63	.0056	.0056	PROPN
ftr-402	957	64	(	(	PUNCT
ftr-402	957	65	.0033	.0033	PROPN
ftr-402	957	66	)	)	PUNCT
ftr-402	957	67	(	(	PUNCT
ftr-402	957	68	.0040	.0040	NOUN
ftr-402	957	69	)	)	PUNCT
ftr-402	957	70	parent	parent	NOUN
ftr-402	957	71	r&d	r&d	NOUN
ftr-402	957	72	/	/	SYM
ftr-402	957	73	sales	sale	NOUN
ftr-402	957	74	.8833	.8833	PUNCT
ftr-402	958	1	.7230	.7230	PROPN
ftr-402	958	2	(	(	PUNCT
ftr-402	958	3	.0865	.0865	NOUN
ftr-402	958	4	)	)	PUNCT
ftr-402	958	5	(	(	PUNCT
ftr-402	958	6	.0542	.0542	NOUN
ftr-402	958	7	)	)	PUNCT
ftr-402	958	8	parent	parent	NOUN
ftr-402	958	9	advertising	advertising	NOUN
ftr-402	958	10	sales	sale	NOUN
ftr-402	958	11	.5207	.5207	PROPN
ftr-402	958	12	.8278	.8278	PROPN
ftr-402	958	13	(	(	PUNCT
ftr-402	958	14	.0359	.0359	NOUN
ftr-402	958	15	)	)	PUNCT
ftr-402	958	16	(	(	PUNCT
ftr-402	958	17	.0457	.0457	X
ftr-402	958	18	)	)	PUNCT
ftr-402	958	19	statutory	statutory	ADJ
ftr-402	958	20	tax	tax	NOUN
ftr-402	958	21	rate	rate	NOUN
ftr-402	958	22	-.1495	-.1495	PUNCT
ftr-402	958	23	-.2363	-.2363	PUNCT
ftr-402	958	24	(	(	PUNCT
ftr-402	958	25	.0109	.0109	PROPN
ftr-402	958	26	)	)	PUNCT
ftr-402	958	27	(	(	PUNCT
ftr-402	958	28	.0157	.0157	PROPN
ftr-402	958	29	)	)	PUNCT
ftr-402	958	30	constant	constant	ADJ
ftr-402	958	31	term	term	NOUN
ftr-402	958	32	.1225	.1225	PROPN
ftr-402	958	33	.1401	.1401	PROPN
ftr-402	958	34	(	(	PUNCT
ftr-402	958	35	.0046	.0046	PROPN
ftr-402	958	36	)	)	PUNCT
ftr-402	958	37	(	(	PUNCT
ftr-402	958	38	.0059	.0059	NOUN
ftr-402	958	39	)	)	PUNCT
ftr-402	958	40	number	number	NOUN
ftr-402	958	41	of	of	ADP
ftr-402	958	42	observations	observation	NOUN
ftr-402	958	43	6093	6093	NUM
ftr-402	958	44	6887	6887	NUM
ftr-402	958	45	mean	mean	NOUN
ftr-402	958	46	of	of	ADP
ftr-402	958	47	dependent	dependent	ADJ
ftr-402	958	48	variable	variable	NOUN
ftr-402	958	49	.0980	.0980	PROPN
ftr-402	958	50	.1121	.1121	PROPN
ftr-402	958	51	notes	note	VERB
ftr-402	958	52	:	:	PUNCT
ftr-402	958	53	observations	observation	NOUN
ftr-402	958	54	are	be	AUX
ftr-402	958	55	weighted	weight	VERB
ftr-402	958	56	by	by	ADP
ftr-402	958	57	cfc	cfc	PROPN
ftr-402	958	58	sales	sale	NOUN
ftr-402	958	59	.	.	PUNCT
ftr-402	959	1	standard	standard	ADJ
ftr-402	959	2	errors	error	NOUN
ftr-402	959	3	are	be	AUX
ftr-402	959	4	in	in	ADP
ftr-402	959	5	parenthesis	parenthesis	NOUN
ftr-402	959	6	.	.	PUNCT
ftr-402	960	1	source	source	NOUN
ftr-402	960	2	:	:	PUNCT
ftr-402	960	3	treasury	treasury	NOUN
ftr-402	960	4	tax	tax	NOUN
ftr-402	960	5	files	file	NOUN
ftr-402	960	6	.	.	PUNCT
ftr-402	961	1	178	178	NUM
ftr-402	961	2	florida	florida	PROPN
ftr-402	961	3	tax	tax	NOUN
ftr-402	961	4	review	review	NOUN
ftr-402	961	5	[	[	X
ftr-402	961	6	vol.7:3	vol.7:3	NOUN
ftr-402	961	7	table	table	NOUN
ftr-402	961	8	5b	5b	NUM
ftr-402	961	9	comparison	comparison	NOUN
ftr-402	961	10	of	of	ADP
ftr-402	961	11	income	income	NOUN
ftr-402	961	12	shifting	shift	VERB
ftr-402	961	13	in	in	ADP
ftr-402	961	14	1996	1996	NUM
ftr-402	961	15	and	and	CCONJ
ftr-402	961	16	2000	2000	NUM
ftr-402	961	17	dependent	dependent	ADJ
ftr-402	961	18	variable	variable	NOUN
ftr-402	961	19	is	be	AUX
ftr-402	961	20	pre	pre	ADJ
ftr-402	961	21	-	-	ADJ
ftr-402	961	22	tax	tax	ADJ
ftr-402	961	23	earnings	earning	NOUN
ftr-402	961	24	and	and	CCONJ
ftr-402	961	25	profits	profit	NOUN
ftr-402	961	26	/	/	SYM
ftr-402	961	27	cfc	cfc	NOUN
ftr-402	961	28	sales	sale	NOUN
ftr-402	961	29	manufacturing	manufacturing	NOUN
ftr-402	961	30	cfcs	cfc	NOUN
ftr-402	961	31	with	with	ADP
ftr-402	961	32	positive	positive	ADJ
ftr-402	961	33	income	income	NOUN
ftr-402	961	34	among	among	ADP
ftr-402	961	35	7500	7500	NUM
ftr-402	961	36	largest	large	ADJ
ftr-402	961	37	cfcs	cfc	NOUN
ftr-402	961	38	1996	1996	NUM
ftr-402	961	39	2000	2000	NUM
ftr-402	961	40	unweighted	unweighte	VERB
ftr-402	961	41	weighted	weight	VERB
ftr-402	961	42	unweighted	unweighte	VERB
ftr-402	961	43	weighted	weight	VERB
ftr-402	961	44	age	age	NOUN
ftr-402	961	45	<	<	X
ftr-402	961	46	5	5	NUM
ftr-402	961	47	years	year	NOUN
ftr-402	961	48	.0050	.0050	VERB
ftr-402	961	49	-.0002	-.0002	PUNCT
ftr-402	961	50	.0014	.0014	PROPN
ftr-402	961	51	.0326	.0326	PROPN
ftr-402	961	52	(	(	PUNCT
ftr-402	961	53	.0107	.0107	PROPN
ftr-402	961	54	)	)	PUNCT
ftr-402	961	55	(	(	PUNCT
ftr-402	961	56	.0088	.0088	NOUN
ftr-402	961	57	)	)	PUNCT
ftr-402	961	58	(	(	PUNCT
ftr-402	961	59	.0112	.0112	NOUN
ftr-402	961	60	)	)	PUNCT
ftr-402	961	61	(	(	PUNCT
ftr-402	961	62	.0101	.0101	NOUN
ftr-402	961	63	)	)	PUNCT
ftr-402	961	64	age	age	NOUN
ftr-402	961	65	5	5	NUM
ftr-402	961	66	15	15	NUM
ftr-402	961	67	years	year	NOUN
ftr-402	961	68	.0094	.0094	PROPN
ftr-402	962	1	.0105	.0105	VERB
ftr-402	963	1	.0142	.0142	PROPN
ftr-402	963	2	.0057	.0057	PROPN
ftr-402	963	3	(	(	PUNCT
ftr-402	963	4	.0073	.0073	NOUN
ftr-402	963	5	)	)	PUNCT
ftr-402	963	6	(	(	PUNCT
ftr-402	963	7	.0061	.0061	PROPN
ftr-402	963	8	)	)	PUNCT
ftr-402	963	9	(	(	PUNCT
ftr-402	963	10	.0099	.0099	NOUN
ftr-402	963	11	)	)	PUNCT
ftr-402	963	12	(	(	PUNCT
ftr-402	963	13	.0098	.0098	NOUN
ftr-402	963	14	)	)	PUNCT
ftr-402	963	15	parent	parent	NOUN
ftr-402	963	16	r&d	r&d	NOUN
ftr-402	963	17	/	/	SYM
ftr-402	963	18	sales	sale	NOUN
ftr-402	964	1	.5807	.5807	PROPN
ftr-402	964	2	.9809	.9809	PROPN
ftr-402	964	3	.5721	.5721	PROPN
ftr-402	965	1	.7921	.7921	INTJ
ftr-402	965	2	(	(	PUNCT
ftr-402	965	3	.2023	.2023	PROPN
ftr-402	965	4	)	)	PUNCT
ftr-402	965	5	(	(	PUNCT
ftr-402	965	6	.1596	.1596	PROPN
ftr-402	965	7	)	)	PUNCT
ftr-402	965	8	(	(	PUNCT
ftr-402	965	9	.1409	.1409	PROPN
ftr-402	965	10	)	)	PUNCT
ftr-402	965	11	(	(	PUNCT
ftr-402	965	12	.1274	.1274	NOUN
ftr-402	965	13	)	)	PUNCT
ftr-402	965	14	parent	parent	NOUN
ftr-402	965	15	advertising	advertising	NOUN
ftr-402	965	16	sales	sale	NOUN
ftr-402	965	17	.2895	.2895	PUNCT
ftr-402	966	1	.6314	.6314	PROPN
ftr-402	966	2	.2405	.2405	PROPN
ftr-402	966	3	1.021	1.021	NUM
ftr-402	966	4	(	(	PUNCT
ftr-402	966	5	.0782	.0782	PROPN
ftr-402	966	6	)	)	PUNCT
ftr-402	966	7	(	(	PUNCT
ftr-402	966	8	.0677	.0677	NUM
ftr-402	966	9	)	)	PUNCT
ftr-402	966	10	(	(	PUNCT
ftr-402	966	11	.1088	.1088	NOUN
ftr-402	966	12	)	)	PUNCT
ftr-402	966	13	(	(	PUNCT
ftr-402	966	14	.1105	.1105	NOUN
ftr-402	966	15	)	)	PUNCT
ftr-402	966	16	statutory	statutory	ADJ
ftr-402	966	17	tax	tax	NOUN
ftr-402	966	18	rate	rate	NOUN
ftr-402	966	19	-.1710	-.1710	PUNCT
ftr-402	966	20	-.1564	-.1564	PUNCT
ftr-402	966	21	-.2518	-.2518	PUNCT
ftr-402	966	22	-.2600	-.2600	PUNCT
ftr-402	966	23	(	(	PUNCT
ftr-402	966	24	.0276	.0276	NOUN
ftr-402	966	25	)	)	PUNCT
ftr-402	966	26	(	(	PUNCT
ftr-402	966	27	.0200	.0200	PROPN
ftr-402	966	28	)	)	PUNCT
ftr-402	966	29	(	(	PUNCT
ftr-402	966	30	.0407	.0407	PROPN
ftr-402	966	31	)	)	PUNCT
ftr-402	966	32	(	(	PUNCT
ftr-402	966	33	.0367	.0367	NOUN
ftr-402	966	34	)	)	PUNCT
ftr-402	966	35	constant	constant	ADJ
ftr-402	966	36	term	term	NOUN
ftr-402	966	37	.1713	.1713	NOUN
ftr-402	966	38	.1189	.1189	PROPN
ftr-402	966	39	.1955	.1955	PROPN
ftr-402	967	1	.1402	.1402	PROPN
ftr-402	967	2	(	(	PUNCT
ftr-402	967	3	.0113	.0113	PROPN
ftr-402	967	4	)	)	PUNCT
ftr-402	967	5	(	(	PUNCT
ftr-402	967	6	.0085	.0085	NOUN
ftr-402	967	7	)	)	PUNCT
ftr-402	967	8	(	(	PUNCT
ftr-402	967	9	.0450	.0450	NOUN
ftr-402	967	10	)	)	PUNCT
ftr-402	967	11	(	(	PUNCT
ftr-402	967	12	.0140	.0140	PROPN
ftr-402	967	13	)	)	PUNCT
ftr-402	967	14	mean	mean	NOUN
ftr-402	967	15	of	of	ADP
ftr-402	967	16	dependent	dependent	ADJ
ftr-402	967	17	.1305	.1305	PROPN
ftr-402	967	18	.0972	.0972	PUNCT
ftr-402	968	1	.1390	.1390	PUNCT
ftr-402	968	2	.1131	.1131	PROPN
ftr-402	968	3	variable	variable	ADJ
ftr-402	968	4	number	number	NOUN
ftr-402	968	5	of	of	ADP
ftr-402	968	6	observations	observation	NOUN
ftr-402	968	7	1865	1865	NUM
ftr-402	968	8	1865	1865	NUM
ftr-402	968	9	1327	1327	NUM
ftr-402	968	10	1327	1327	NUM
ftr-402	968	11	notes	note	NOUN
ftr-402	968	12	:	:	PUNCT
ftr-402	968	13	weighting	weighting	NOUN
ftr-402	968	14	is	be	AUX
ftr-402	968	15	by	by	ADP
ftr-402	968	16	cfc	cfc	PROPN
ftr-402	968	17	sales	sale	NOUN
ftr-402	968	18	.	.	PUNCT
ftr-402	969	1	standard	standard	ADJ
ftr-402	969	2	errors	error	NOUN
ftr-402	969	3	are	be	AUX
ftr-402	969	4	in	in	ADP
ftr-402	969	5	parenthesis	parenthesis	NOUN
ftr-402	969	6	.	.	PUNCT
ftr-402	970	1	source	source	NOUN
ftr-402	970	2	:	:	PUNCT
ftr-402	970	3	treasury	treasury	NOUN
ftr-402	970	4	tax	tax	NOUN
ftr-402	970	5	files	file	NOUN
ftr-402	970	6	.	.	PUNCT
ftr-402	971	1	2005	2005	NUM
ftr-402	971	2	]	]	PUNCT
ftr-402	971	3	the	the	DET
ftr-402	971	4	three	three	NUM
ftr-402	971	5	parties	party	NOUN
ftr-402	971	6	in	in	ADP
ftr-402	971	7	the	the	DET
ftr-402	971	8	race	race	NOUN
ftr-402	971	9	to	to	ADP
ftr-402	971	10	the	the	DET
ftr-402	971	11	bottom	bottom	ADJ
ftr-402	971	12	179	179	NUM
ftr-402	971	13	table	table	NOUN
ftr-402	971	14	6	6	NUM
ftr-402	971	15	tabulations	tabulation	NOUN
ftr-402	971	16	from	from	ADP
ftr-402	971	17	the	the	DET
ftr-402	971	18	1996	1996	NUM
ftr-402	971	19	and	and	CCONJ
ftr-402	971	20	2000	2000	NUM
ftr-402	971	21	form	form	NOUN
ftr-402	971	22	5471	5471	NUM
ftr-402	971	23	files	file	NOUN
ftr-402	971	24	(	(	PUNCT
ftr-402	971	25	in	in	ADP
ftr-402	971	26	billions	billion	NOUN
ftr-402	971	27	of	of	ADP
ftr-402	971	28	dollars	dollar	NOUN
ftr-402	971	29	)	)	PUNCT
ftr-402	971	30	growth	growth	NOUN
ftr-402	971	31	between	between	ADP
ftr-402	971	32	1996	1996	NUM
ftr-402	971	33	2000	2000	NUM
ftr-402	971	34	1996	1996	NUM
ftr-402	971	35	&	&	CCONJ
ftr-402	971	36	2000	2000	NUM
ftr-402	971	37	all	all	PRON
ftr-402	971	38	cfcs	cfc	VERB
ftr-402	971	39	1	1	NUM
ftr-402	971	40	.	.	PUNCT
ftr-402	971	41	total	total	ADJ
ftr-402	971	42	pre	pre	ADJ
ftr-402	971	43	-	-	ADJ
ftr-402	971	44	tax	tax	ADJ
ftr-402	971	45	earning	earning	NOUN
ftr-402	971	46	and	and	CCONJ
ftr-402	971	47	profits	profit	VERB
ftr-402	971	48	$	$	SYM
ftr-402	971	49	160.8	160.8	NUM
ftr-402	971	50	$	$	SYM
ftr-402	971	51	231.1	231.1	NUM
ftr-402	971	52	44	44	NUM
ftr-402	971	53	%	%	NOUN
ftr-402	971	54	2	2	NUM
ftr-402	971	55	.	.	PUNCT
ftr-402	971	56	earnings	earning	NOUN
ftr-402	971	57	and	and	CCONJ
ftr-402	971	58	profits	profit	NOUN
ftr-402	971	59	in	in	ADP
ftr-402	971	60	seven	seven	NUM
ftr-402	971	61	major	major	ADJ
ftr-402	971	62	low	low	ADJ
ftr-402	971	63	-	-	PUNCT
ftr-402	971	64	tax	tax	NOUN
ftr-402	971	65	countries	country	NOUN
ftr-402	971	66	(	(	PUNCT
ftr-402	971	67	ireland	ireland	PROPN
ftr-402	971	68	,	,	PUNCT
ftr-402	971	69	singapore	singapore	PROPN
ftr-402	971	70	,	,	PUNCT
ftr-402	971	71	bermuda	bermuda	PROPN
ftr-402	971	72	,	,	PUNCT
ftr-402	971	73	cayman	cayman	PROPN
ftr-402	971	74	islands	islands	PROPN
ftr-402	971	75	,	,	PUNCT
ftr-402	971	76	netherlands	netherlands	PROPN
ftr-402	971	77	,	,	PUNCT
ftr-402	971	78	luxembourg	luxembourg	PROPN
ftr-402	971	79	and	and	CCONJ
ftr-402	971	80	switzerland	switzerland	PROPN
ftr-402	971	81	)	)	PUNCT
ftr-402	971	82	36.5	36.5	NUM
ftr-402	971	83	82.5	82.5	NUM
ftr-402	971	84	126	126	NUM
ftr-402	971	85	3	3	NUM
ftr-402	971	86	.	.	PUNCT
ftr-402	972	1	dividends	dividend	NOUN
ftr-402	972	2	received	receive	VERB
ftr-402	972	3	in	in	ADP
ftr-402	972	4	the	the	DET
ftr-402	972	5	seven	seven	NUM
ftr-402	972	6	major	major	ADJ
ftr-402	972	7	low	low	ADJ
ftr-402	972	8	-	-	PUNCT
ftr-402	972	9	tax	tax	NOUN
ftr-402	972	10	countries	country	NOUN
ftr-402	972	11	6.4	6.4	NUM
ftr-402	972	12	19.8	19.8	NUM
ftr-402	972	13	209	209	NUM
ftr-402	972	14	4	4	NUM
ftr-402	972	15	.	.	PUNCT
ftr-402	972	16	total	total	ADJ
ftr-402	972	17	tangible	tangible	ADJ
ftr-402	972	18	capital	capital	NOUN
ftr-402	972	19	(	(	PUNCT
ftr-402	972	20	net	net	ADJ
ftr-402	972	21	plant	plant	NOUN
ftr-402	972	22	&	&	CCONJ
ftr-402	972	23	equipment	equipment	NOUN
ftr-402	972	24	plus	plus	CCONJ
ftr-402	972	25	inventories	inventory	NOUN
ftr-402	972	26	)	)	PUNCT
ftr-402	972	27	767.5	767.5	NUM
ftr-402	972	28	982.4	982.4	NUM
ftr-402	972	29	28	28	NUM
ftr-402	972	30	5	5	NUM
ftr-402	972	31	.	.	PUNCT
ftr-402	972	32	tangible	tangible	ADJ
ftr-402	972	33	capital	capital	NOUN
ftr-402	972	34	in	in	ADP
ftr-402	972	35	five	five	NUM
ftr-402	972	36	major	major	ADJ
ftr-402	972	37	holding	hold	VERB
ftr-402	972	38	company	company	NOUN
ftr-402	972	39	low	low	ADJ
ftr-402	972	40	-	-	PUNCT
ftr-402	972	41	tax	tax	NOUN
ftr-402	972	42	countries	country	NOUN
ftr-402	972	43	(	(	PUNCT
ftr-402	972	44	bermuda	bermuda	PROPN
ftr-402	972	45	,	,	PUNCT
ftr-402	972	46	cayman	cayman	PROPN
ftr-402	972	47	islands	islands	PROPN
ftr-402	972	48	,	,	PUNCT
ftr-402	972	49	netherlands	netherlands	PROPN
ftr-402	972	50	,	,	PUNCT
ftr-402	972	51	luxembourg	luxembourg	PROPN
ftr-402	972	52	and	and	CCONJ
ftr-402	972	53	switzerland	switzerland	PROPN
ftr-402	972	54	)	)	PUNCT
ftr-402	972	55	51.7	51.7	NUM
ftr-402	972	56	145.9	145.9	NUM
ftr-402	972	57	182	182	NUM
ftr-402	972	58	6	6	NUM
ftr-402	972	59	.	.	PUNCT
ftr-402	972	60	earnings	earning	NOUN
ftr-402	972	61	and	and	CCONJ
ftr-402	972	62	profits	profit	NOUN
ftr-402	972	63	of	of	ADP
ftr-402	972	64	cfcs	cfc	NOUN
ftr-402	972	65	with	with	ADP
ftr-402	972	66	parents	parent	NOUN
ftr-402	972	67	in	in	ADP
ftr-402	972	68	finance	finance	NOUN
ftr-402	972	69	in	in	ADP
ftr-402	972	70	the	the	DET
ftr-402	972	71	seven	seven	NUM
ftr-402	972	72	major	major	ADJ
ftr-402	972	73	low	low	ADJ
ftr-402	972	74	-	-	PUNCT
ftr-402	972	75	tax	tax	NOUN
ftr-402	972	76	countries	country	NOUN
ftr-402	972	77	5.1	5.1	NUM
ftr-402	972	78	5.6	5.6	NUM
ftr-402	972	79	10	10	NUM
ftr-402	972	80	top	top	ADJ
ftr-402	972	81	7500	7500	NUM
ftr-402	972	82	cfcs	cfc	NOUN
ftr-402	972	83	7	7	NUM
ftr-402	972	84	.	.	PUNCT
ftr-402	972	85	earnings	earning	NOUN
ftr-402	972	86	and	and	CCONJ
ftr-402	972	87	profits	profit	NOUN
ftr-402	972	88	139.8	139.8	NUM
ftr-402	972	89	201.1	201.1	NUM
ftr-402	972	90	44	44	NUM
ftr-402	972	91	8	8	NUM
ftr-402	972	92	.	.	PUNCT
ftr-402	973	1	compensation	compensation	NOUN
ftr-402	973	2	for	for	ADP
ftr-402	973	3	technical	technical	ADJ
ftr-402	973	4	and	and	CCONJ
ftr-402	973	5	management	management	NOUN
ftr-402	973	6	services	service	NOUN
ftr-402	973	7	(	(	PUNCT
ftr-402	973	8	cost	cost	NOUN
ftr-402	973	9	-	-	PUNCT
ftr-402	973	10	sharing	sharing	NOUN
ftr-402	973	11	)	)	PUNCT
ftr-402	973	12	13.2	13.2	NUM
ftr-402	973	13	23.6	23.6	NUM
ftr-402	973	14	79	79	NUM
ftr-402	973	15	9	9	NUM
ftr-402	973	16	.	.	PUNCT
ftr-402	974	1	royalties	royalty	NOUN
ftr-402	974	2	paid	pay	VERB
ftr-402	974	3	to	to	ADP
ftr-402	974	4	parents	parent	NOUN
ftr-402	974	5	22.4	22.4	NUM
ftr-402	974	6	29.1	29.1	NUM
ftr-402	974	7	30	30	NUM
ftr-402	974	8	source	source	NOUN
ftr-402	974	9	:	:	PUNCT
ftr-402	974	10	treasury	treasury	NOUN
ftr-402	974	11	tax	tax	NOUN
ftr-402	974	12	files	file	NOUN
ftr-402	974	13	.	.	PUNCT
ftr-402	975	1	180	180	NUM
ftr-402	975	2	florida	florida	PROPN
ftr-402	975	3	tax	tax	NOUN
ftr-402	975	4	review	review	NOUN
ftr-402	975	5	[	[	X
ftr-402	975	6	vol.7:3	vol.7:3	NOUN
ftr-402	975	7	table	table	NOUN
ftr-402	975	8	7	7	NUM
ftr-402	975	9	growth	growth	NOUN
ftr-402	975	10	of	of	ADP
ftr-402	975	11	equity	equity	NOUN
ftr-402	975	12	income	income	NOUN
ftr-402	975	13	in	in	ADP
ftr-402	975	14	affiliates	affiliate	NOUN
ftr-402	975	15	(	(	PUNCT
ftr-402	975	16	in	in	ADP
ftr-402	975	17	millions	million	NOUN
ftr-402	975	18	of	of	ADP
ftr-402	975	19	dollars	dollar	NOUN
ftr-402	975	20	)	)	PUNCT
ftr-402	976	1	_	_	PUNCT
ftr-402	977	1	_	_	PUNCT
ftr-402	978	1	_	_	PUNCT
ftr-402	979	1	_	_	PUNCT
ftr-402	980	1	_	_	PUNCT
ftr-402	981	1	_	_	PUNCT
ftr-402	982	1	_	_	PUNCT
ftr-402	983	1	_	_	PUNCT
ftr-402	984	1	_	_	PUNCT
ftr-402	985	1	_	_	PUNCT
ftr-402	986	1	_	_	PUNCT
ftr-402	987	1	_	_	PUNCT
ftr-402	988	1	_	_	PUNCT
ftr-402	989	1	_	_	PUNCT
ftr-402	990	1	_	_	PUNCT
ftr-402	991	1	_	_	PUNCT
ftr-402	992	1	_	_	PUNCT
ftr-402	993	1	_	_	PUNCT
ftr-402	994	1	_	_	PUNCT
ftr-402	995	1	_	_	PUNCT
ftr-402	996	1	_	_	PUNCT
ftr-402	997	1	_	_	PUNCT
ftr-402	998	1	_	_	PUNCT
ftr-402	999	1	_	_	PUNCT
ftr-402	1000	1	_	_	PUNCT
ftr-402	1001	1	_	_	PUNCT
ftr-402	1002	1	_	_	PUNCT
ftr-402	1003	1	_	_	PUNCT
ftr-402	1004	1	_	_	PUNCT
ftr-402	1005	1	_	_	PUNCT
ftr-402	1006	1	_	_	PUNCT
ftr-402	1007	1	_	_	PUNCT
ftr-402	1008	1	_	_	PUNCT
ftr-402	1009	1	_	_	PUNCT
ftr-402	1010	1	_	_	PUNCT
ftr-402	1011	1	_	_	PUNCT
ftr-402	1012	1	_	_	PUNCT
ftr-402	1013	1	_	_	PUNCT
ftr-402	1014	1	_	_	PUNCT
ftr-402	1015	1	_	_	PUNCT
ftr-402	1016	1	_	_	PUNCT
ftr-402	1017	1	_	_	PUNCT
ftr-402	1018	1	_	_	PUNCT
ftr-402	1019	1	_	_	PUNCT
ftr-402	1020	1	_	_	PUNCT
ftr-402	1021	1	_	_	PUNCT
ftr-402	1022	1	_	_	PUNCT
ftr-402	1023	1	_	_	PUNCT
ftr-402	1024	1	_	_	PUNCT
ftr-402	1025	1	_	_	PUNCT
ftr-402	1026	1	_	_	PUNCT
ftr-402	1027	1	_	_	PUNCT
ftr-402	1028	1	_	_	PUNCT
ftr-402	1029	1	_	_	PUNCT
ftr-402	1030	1	_	_	PUNCT
ftr-402	1031	1	_	_	PUNCT
ftr-402	1032	1	_	_	PUNCT
ftr-402	1033	1	_	_	PUNCT
ftr-402	1034	1	_	_	PUNCT
ftr-402	1035	1	_	_	PUNCT
ftr-402	1035	2	growth	growth	NOUN
ftr-402	1035	3	in	in	ADP
ftr-402	1035	4	income	income	NOUN
ftr-402	1035	5	from	from	ADP
ftr-402	1035	6	income	income	NOUN
ftr-402	1035	7	from	from	ADP
ftr-402	1035	8	income	income	NOUN
ftr-402	1035	9	from	from	ADP
ftr-402	1035	10	growth	growth	NOUN
ftr-402	1035	11	in	in	ADP
ftr-402	1035	12	equity	equity	NOUN
ftr-402	1035	13	pre	pre	ADJ
ftr-402	1035	14	-	-	ADJ
ftr-402	1035	15	tax	tax	ADJ
ftr-402	1035	16	equity	equity	NOUN
ftr-402	1035	17	pre	pre	ADJ
ftr-402	1035	18	-	-	ADJ
ftr-402	1035	19	tax	tax	ADJ
ftr-402	1035	20	equity	equity	NOUN
ftr-402	1035	21	pre	pre	ADJ
ftr-402	1035	22	-	-	ADJ
ftr-402	1035	23	tax	tax	ADJ
ftr-402	1035	24	investments	investment	NOUN
ftr-402	1035	25	income	income	NOUN
ftr-402	1035	26	investments	investment	NOUN
ftr-402	1035	27	income	income	NOUN
ftr-402	1035	28	investments	investment	NOUN
ftr-402	1035	29	income	income	NOUN
ftr-402	1035	30	1997	1997	NUM
ftr-402	1035	31	1997	1997	NUM
ftr-402	1035	32	2002	2002	NUM
ftr-402	1035	33	2002	2002	NUM
ftr-402	1035	34	19972002	19972002	NUM
ftr-402	1035	35	19972002	19972002	NUM
ftr-402	1035	36	all	all	DET
ftr-402	1035	37	countries	country	NOUN
ftr-402	1035	38	$	$	SYM
ftr-402	1035	39	41,781	41,781	NUM
ftr-402	1035	40	$	$	SYM
ftr-402	1035	41	188,092	188,092	NUM
ftr-402	1035	42	$	$	SYM
ftr-402	1035	43	120,782	120,782	NUM
ftr-402	1035	44	$	$	SYM
ftr-402	1035	45	255,225	255,225	NUM
ftr-402	1035	46	189	189	NUM
ftr-402	1035	47	%	%	NOUN
ftr-402	1035	48	36	36	NUM
ftr-402	1035	49	%	%	NOUN
ftr-402	1035	50	selected	select	VERB
ftr-402	1035	51	low	low	ADJ
ftr-402	1035	52	-	-	PUNCT
ftr-402	1035	53	tax	tax	NOUN
ftr-402	1035	54	countries	country	NOUN
ftr-402	1035	55	ireland	ireland	VERB
ftr-402	1035	56	1,414	1,414	NUM
ftr-402	1035	57	9,359	9,359	NUM
ftr-402	1035	58	8,502	8,502	NUM
ftr-402	1035	59	26,835	26,835	NUM
ftr-402	1035	60	501	501	NUM
ftr-402	1035	61	187	187	NUM
ftr-402	1035	62	luxembourg	luxembourg	PROPN
ftr-402	1035	63	1,935	1,935	NUM
ftr-402	1035	64	2,352	2,352	NUM
ftr-402	1035	65	18,995	18,995	NUM
ftr-402	1035	66	18,405	18,405	NUM
ftr-402	1035	67	882	882	NUM
ftr-402	1035	68	683	683	NUM
ftr-402	1035	69	netherlands	netherland	NOUN
ftr-402	1035	70	9,249	9,249	NUM
ftr-402	1035	71	17,612	17,612	NUM
ftr-402	1035	72	15,238	15,238	NUM
ftr-402	1035	73	20,802	20,802	NUM
ftr-402	1035	74	65	65	NUM
ftr-402	1035	75	18	18	NUM
ftr-402	1035	76	switzerland	switzerland	NOUN
ftr-402	1035	77	6,326	6,326	NUM
ftr-402	1035	78	9,709	9,709	NUM
ftr-402	1035	79	11,515	11,515	NUM
ftr-402	1035	80	14,105	14,105	NUM
ftr-402	1035	81	82	82	NUM
ftr-402	1035	82	45	45	NUM
ftr-402	1035	83	bermuda	bermuda	NOUN
ftr-402	1035	84	1,649	1,649	NUM
ftr-402	1035	85	5,933	5,933	NUM
ftr-402	1035	86	22,142	22,142	NUM
ftr-402	1035	87	25,212	25,212	NUM
ftr-402	1035	88	1,243	1,243	NUM
ftr-402	1035	89	325	325	NUM
ftr-402	1035	90	cayman	cayman	NOUN
ftr-402	1035	91	islands	island	VERB
ftr-402	1035	92	1,046	1,046	NUM
ftr-402	1035	93	2,678	2,678	NUM
ftr-402	1035	94	2,268	2,268	NUM
ftr-402	1035	95	2,809	2,809	NUM
ftr-402	1035	96	117	117	NUM
ftr-402	1035	97	5	5	NUM
ftr-402	1035	98	singapore	singapore	NOUN
ftr-402	1035	99	578	578	NUM
ftr-402	1035	100	5,765	5,765	NUM
ftr-402	1035	101	2,465	2,465	NUM
ftr-402	1035	102	7,533	7,533	NUM
ftr-402	1035	103	326	326	NUM
ftr-402	1035	104	31	31	NUM
ftr-402	1035	105	total	total	NOUN
ftr-402	1035	106	22,197	22,197	NUM
ftr-402	1035	107	53,408	53,408	NUM
ftr-402	1035	108	81,125	81,125	NUM
ftr-402	1035	109	115,701	115,701	NUM
ftr-402	1035	110	265	265	NUM
ftr-402	1035	111	117	117	NUM
ftr-402	1035	112	_	_	PUNCT
ftr-402	1036	1	_	_	PUNCT
ftr-402	1037	1	_	_	PUNCT
ftr-402	1038	1	_	_	PUNCT
ftr-402	1039	1	_	_	PUNCT
ftr-402	1040	1	_	_	PUNCT
ftr-402	1041	1	_	_	PUNCT
ftr-402	1042	1	_	_	PUNCT
ftr-402	1043	1	_	_	PUNCT
ftr-402	1044	1	_	_	PUNCT
ftr-402	1045	1	_	_	PUNCT
ftr-402	1046	1	_	_	PUNCT
ftr-402	1047	1	_	_	PUNCT
ftr-402	1048	1	_	_	PUNCT
ftr-402	1049	1	_	_	PUNCT
ftr-402	1050	1	_	_	PUNCT
ftr-402	1051	1	_	_	PUNCT
ftr-402	1052	1	_	_	PUNCT
ftr-402	1053	1	_	_	PUNCT
ftr-402	1054	1	_	_	PUNCT
ftr-402	1055	1	_	_	PUNCT
ftr-402	1056	1	_	_	PUNCT
ftr-402	1057	1	_	_	PUNCT
ftr-402	1058	1	_	_	PUNCT
ftr-402	1059	1	_	_	PUNCT
ftr-402	1060	1	_	_	PUNCT
ftr-402	1061	1	_	_	PUNCT
ftr-402	1062	1	_	_	PUNCT
ftr-402	1063	1	_	_	PUNCT
ftr-402	1064	1	_	_	PUNCT
ftr-402	1065	1	_	_	PUNCT
ftr-402	1066	1	_	_	PUNCT
ftr-402	1067	1	_	_	PUNCT
ftr-402	1068	1	_	_	PUNCT
ftr-402	1069	1	_	_	PUNCT
ftr-402	1070	1	_	_	PUNCT
ftr-402	1071	1	_	_	PUNCT
ftr-402	1072	1	_	_	PUNCT
ftr-402	1073	1	_	_	PUNCT
ftr-402	1074	1	_	_	PUNCT
ftr-402	1075	1	_	_	PUNCT
ftr-402	1076	1	_	_	PUNCT
ftr-402	1077	1	_	_	PUNCT
ftr-402	1078	1	_	_	PUNCT
ftr-402	1079	1	_	_	PUNCT
ftr-402	1080	1	_	_	PUNCT
ftr-402	1081	1	_	_	PUNCT
ftr-402	1082	1	_	_	PUNCT
ftr-402	1083	1	_	_	PUNCT
ftr-402	1084	1	_	_	PUNCT
ftr-402	1085	1	_	_	PUNCT
ftr-402	1086	1	_	_	PUNCT
ftr-402	1087	1	_	_	PUNCT
ftr-402	1088	1	_	_	PUNCT
ftr-402	1089	1	_	_	PUNCT
ftr-402	1090	1	_	_	PUNCT
ftr-402	1091	1	_	_	PUNCT
ftr-402	1092	1	_	_	PUNCT
ftr-402	1093	1	_	_	PUNCT
ftr-402	1094	1	_	_	PUNCT
ftr-402	1094	2	source	source	NOUN
ftr-402	1094	3	:	:	PUNCT
ftr-402	1094	4	department	department	PROPN
ftr-402	1094	5	of	of	ADP
ftr-402	1094	6	commerce	commerce	PROPN
ftr-402	1094	7	,	,	PUNCT
ftr-402	1094	8	bureau	bureau	PROPN
ftr-402	1094	9	of	of	ADP
ftr-402	1094	10	economic	economic	ADJ
ftr-402	1094	11	analysis	analysis	NOUN
ftr-402	1094	12	.	.	PUNCT
ftr-402	1095	1	2005	2005	NUM
ftr-402	1095	2	]	]	PUNCT
ftr-402	1095	3	the	the	DET
ftr-402	1095	4	three	three	NUM
ftr-402	1095	5	parties	party	NOUN
ftr-402	1095	6	in	in	ADP
ftr-402	1095	7	the	the	DET
ftr-402	1095	8	race	race	NOUN
ftr-402	1095	9	to	to	ADP
ftr-402	1095	10	the	the	DET
ftr-402	1095	11	bottom	bottom	ADJ
ftr-402	1095	12	181	181	NUM
ftr-402	1095	13	appendix	appendix	ADJ
ftr-402	1095	14	country	country	NOUN
ftr-402	1095	15	database	database	PROPN
ftr-402	1095	16	*	*	PROPN
ftr-402	1095	17	argentina	argentina	PROPN
ftr-402	1095	18	australia	australia	PROPN
ftr-402	1095	19	austria	austria	PROPN
ftr-402	1095	20	belgium	belgium	PROPN
ftr-402	1095	21	brazil	brazil	PROPN
ftr-402	1095	22	canada	canada	PROPN
ftr-402	1095	23	chile	chile	PROPN
ftr-402	1095	24	china	china	PROPN
ftr-402	1095	25	colombia	colombia	PROPN
ftr-402	1095	26	costa	costa	PROPN
ftr-402	1095	27	rica	rica	PROPN
ftr-402	1095	28	denmark	denmark	PROPN
ftr-402	1095	29	dominican	dominican	PROPN
ftr-402	1095	30	republic	republic	PROPN
ftr-402	1095	31	ecuador	ecuador	PROPN
ftr-402	1095	32	egypt	egypt	PROPN
ftr-402	1095	33	el	el	PROPN
ftr-402	1095	34	salvador	salvador	PROPN
ftr-402	1095	35	finland	finland	PROPN
ftr-402	1095	36	france	france	PROPN
ftr-402	1095	37	germany	germany	PROPN
ftr-402	1095	38	greece	greece	PROPN
ftr-402	1095	39	guatemala	guatemala	PROPN
ftr-402	1095	40	honduras	honduras	PROPN
ftr-402	1095	41	hong	hong	PROPN
ftr-402	1095	42	kong	kong	PROPN
ftr-402	1095	43	india	india	PROPN
ftr-402	1095	44	indonesia	indonesia	PROPN
ftr-402	1095	45	ireland	ireland	PROPN
ftr-402	1095	46	israel	israel	PROPN
ftr-402	1095	47	italy	italy	PROPN
ftr-402	1095	48	jamaica	jamaica	PROPN
ftr-402	1095	49	japan	japan	PROPN
ftr-402	1095	50	kenya	kenya	PROPN
ftr-402	1095	51	luxembourg	luxembourg	PROPN
ftr-402	1095	52	malaysia	malaysia	PROPN
ftr-402	1095	53	mexico	mexico	PROPN
ftr-402	1095	54	morocco	morocco	PROPN
ftr-402	1095	55	netherlands	netherlands	PROPN
ftr-402	1095	56	new	new	PROPN
ftr-402	1095	57	zealand	zealand	PROPN
ftr-402	1095	58	nigeria	nigeria	PROPN
ftr-402	1095	59	norway	norway	PROPN
ftr-402	1095	60	pakistan	pakistan	PROPN
ftr-402	1095	61	panama	panama	PROPN
ftr-402	1095	62	peru	peru	PROPN
ftr-402	1095	63	philippines	philippine	VERB
ftr-402	1095	64	portugal	portugal	PROPN
ftr-402	1095	65	singapore	singapore	PROPN
ftr-402	1095	66	south	south	PROPN
ftr-402	1095	67	africa	africa	PROPN
ftr-402	1095	68	south	south	PROPN
ftr-402	1095	69	korea	korea	PROPN
ftr-402	1095	70	spain	spain	PROPN
ftr-402	1095	71	sri	sri	PROPN
ftr-402	1095	72	lanka	lanka	PROPN
ftr-402	1095	73	sweden	sweden	PROPN
ftr-402	1095	74	switzerland	switzerland	PROPN
ftr-402	1095	75	taiwan	taiwan	PROPN
ftr-402	1095	76	thailand	thailand	PROPN
ftr-402	1095	77	turkey	turkey	PROPN
ftr-402	1095	78	united	united	PROPN
ftr-402	1095	79	kingdom	kingdom	PROPN
ftr-402	1095	80	uruguay	uruguay	PROPN
ftr-402	1095	81	venezuela	venezuela	PROPN
ftr-402	1095	82	zambia	zambia	PROPN
ftr-402	1096	1	zimbabwe	zimbabwe	PROPN
ftr-402	1096	2	*	*	PUNCT
ftr-402	1096	3	the	the	DET
ftr-402	1096	4	subsidiary	subsidiary	ADJ
ftr-402	1096	5	level	level	NOUN
ftr-402	1096	6	regressions	regression	NOUN
ftr-402	1096	7	include	include	VERB
ftr-402	1096	8	bermuda	bermuda	NOUN
ftr-402	1096	9	and	and	CCONJ
ftr-402	1096	10	the	the	DET
ftr-402	1096	11	cayman	cayman	PROPN
ftr-402	1096	12	islands	island	NOUN
ftr-402	1096	13	.	.	PUNCT
ftr-402	1097	1	page	page	NOUN
ftr-402	1097	2	1	1	NUM
ftr-402	1097	3	_	_	NOUN
ftr-402	1097	4	hlt109556085	hlt109556085	NOUN
ftr-402	1097	5	page	page	NOUN
ftr-402	1097	6	2	2	NUM
ftr-402	1097	7	page	page	NOUN
ftr-402	1097	8	3	3	NUM
ftr-402	1097	9	page	page	NOUN
ftr-402	1097	10	4	4	NUM
ftr-402	1097	11	page	page	NOUN
ftr-402	1097	12	5	5	NUM
ftr-402	1097	13	page	page	NOUN
ftr-402	1097	14	6	6	NUM
ftr-402	1097	15	page	page	NOUN
ftr-402	1097	16	7	7	NUM
ftr-402	1097	17	page	page	NOUN
ftr-402	1097	18	8	8	NUM
ftr-402	1097	19	page	page	NOUN
ftr-402	1097	20	9	9	NUM
ftr-402	1097	21	page	page	NOUN
ftr-402	1097	22	10	10	NUM
ftr-402	1097	23	page	page	NOUN
ftr-402	1097	24	11	11	NUM
ftr-402	1097	25	page	page	NOUN
ftr-402	1097	26	12	12	NUM
ftr-402	1097	27	page	page	NOUN
ftr-402	1097	28	13	13	NUM
ftr-402	1097	29	page	page	NOUN
ftr-402	1097	30	14	14	NUM
ftr-402	1097	31	page	page	NOUN
ftr-402	1097	32	15	15	NUM
ftr-402	1097	33	page	page	NOUN
ftr-402	1097	34	16	16	NUM
ftr-402	1097	35	page	page	NOUN
ftr-402	1097	36	17	17	NUM
ftr-402	1097	37	page	page	NOUN
ftr-402	1097	38	18	18	NUM
ftr-402	1097	39	page	page	NOUN
ftr-402	1097	40	19	19	NUM
ftr-402	1097	41	page	page	NOUN
ftr-402	1097	42	20	20	NUM
ftr-402	1097	43	page	page	NOUN
ftr-402	1097	44	21	21	NUM
ftr-402	1097	45	page	page	NOUN
ftr-402	1097	46	22	22	NUM
ftr-402	1097	47	page	page	NOUN
ftr-402	1097	48	23	23	NUM
ftr-402	1097	49	page	page	NOUN
ftr-402	1097	50	24	24	NUM
ftr-402	1097	51	page	page	NOUN
ftr-402	1097	52	25	25	NUM
ftr-402	1097	53	page	page	NOUN
ftr-402	1097	54	26	26	NUM
ftr-402	1097	55	page	page	NOUN
ftr-402	1097	56	27	27	NUM
ftr-402	1097	57	page	page	NOUN
ftr-402	1097	58	28	28	NUM
ftr-402	1097	59	page	page	NOUN
ftr-402	1097	60	29	29	NUM
ftr-402	1097	61	page	page	NOUN
ftr-402	1097	62	30	30	NUM
ftr-402	1097	63	page	page	NOUN
ftr-402	1097	64	31	31	NUM