Abstract: AbstractThis article examines the strategies employed by individual investors to evade cross‐border capital income taxation, and evaluates the effectiveness of the European Union Savings Tax Directive (STD). Using data for four European countries, the results are, first, individual investors adapted to the institutional changes implemented by the STD before it became effective in 2005; second, the strategy of reallocating assets from debt to equity products in the same country is more important than shifting portfolio capital out of co‐oper...
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Topics: 
International economics
International trade
Monetary economics