Short-term and long-term government debt and non-resident interest withholding taxes

Sylvester Eijffinger, Harry Huizinga and Jan Lemmen

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper examines the incidence of nonresident interest withholding taxes in the international 3-month Treasury-bill market and the international 5-year government bond market. The approach is one of pooled cross-section, time-series regressions. The evidence suggests that the yields on national Treasury-bills and on 5-year government bonds fully reflect the nonresident interest withholding taxes imposed on American or Japanese investors. Nonresident interest withholding taxes on short-term and long-term government debt thus do not appear to be borne by the international investor.

Keywords: withholding taxation; interest parity conditions; government debt (search for similar items in EconPapers)
JEL-codes: G15 H22 H63 (search for similar items in EconPapers)
Pages: 28 pages
Date: 1997-09-01
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Downloads: (external link)
http://eprints.lse.ac.uk/119164/ Open access version. (application/pdf)

Related works:
Journal Article: Short-term and long-term government debt and nonresident interest withholding taxes (1998)
Working Paper: Short-term and long-term government debt and non resident interest witholding taxes (1998)
Working Paper: Short-Term and Long-Term Government Debt and Nonresident Interest Withholding Taxes (1997)
Working Paper: Short-Term and Long-Term Government Debt and Nonresident Interest Withholding Taxes (1996)
Working Paper: Short-Term and Long-Term Government Debt and Nonresident Interest Withholding Taxes (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:119164

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