This paper explores the link between foreign direct investment (FDI) and the BEPS (base erosion and profit shifting) practices of multinationals (MNEs). It puts the spotlight on the outsize role of offshore investment hubs as major players in global corporate investment, a role that is largely due to MNEs' tax planning, although other factors contribute. The paper shows that tax avoidance practices enabled by FDI through offshore hubs are responsible for significant leakage of development financing resources. In policy terms, these findings call for enhanced cooperation and synergies between international tax and investment policymaking.

The current biorefineries are focused on comprehensive fractionation of biomass components into separate lignin and carbohydrate fractions for the production of materials, platform chemicals and biofuel. However, it has become...

Our recently reported AquaSolv Omni (AqSO) process shows great potential as a parameter‐controlled type of biorefinery, which allows tuning of structure and properties of the products towards their optimal use in high‐value applications. Herein, a comprehensive NMR (quantitative 13C, 31P, and 2D heteronuclear single‐quantum coherence) structural characterization of AqSO lignins is reported. The effect of the process severity (P‐factor) and liquid‐to‐solid ratio (L/S) on the structure of the extracted lignins has been investigated and discussed. Low severity (P‐factor in the range 400–600) and L/S=1 led to the isolation of less degraded lignin with a higher β‐O‐4 content up to 34/100 Ar. Harsher processing conditions (P‐factor=1000–2500) yielded more condensed lignins with a high degree of condensation up to 66 at P‐factor=2000. New types of lignin moieties, such as alkyl‐aryl and alkyl‐alkyl chemical bonds together with novel furan oxygenated structures have been identified and quantified for the first time. In addition, the formation of lignin carbohydrate complexes bonds has been hypothesized at low severity and L/S. Based on the obtained data we were able to formulate a possible outlook of the occurring reactions during the hydrothermal treatment. Overall, such detailed structural information bridges the gap from process engineering to sustainable product development.

International trade has long been considered a channel of technology transfer. This paper draws from the World Bank’s Enterprise Surveys to provide a sample of 18 developing and emerging economies to investigate whether global value chains (GVCs) are a vehicle for the transfer of technology. It focuses on one specific channel for technology transfer, namely, the licensing of foreign technology. To control for the possible endogeneity of technology licensing, propensity score matching is combined with a difference-in-differences approach. The results show a positive effect of being involved in two-way trading on the licensing of foreign technology. Firms that become two-way traders are significantly more likely to use foreign-licensed technology than firms starting to export or import. This evidence suggests that the complexity associated with the mode of internationalisation determines the licensing of foreign technology. GVC participation also appears to foster firms’ performance, reflecting my findings that the acquisition of foreign technology leads to significant productivity improvements.

This paper investigates the impact of deep integration in preferential trade agreements (PTAs) on multinational production (MP), i.e. the production carried out by firms outside of their country of origin. Using a structural gravity model, we find that tariff reductions have a positive impact on MP of goods. This effect is stronger for foreign affiliates trading intermediate inputs or serving the final demand. However, while deep provisions have no significant impact on foreign affiliates that produce goods, we find that deep integration provisions positively affects foreign affiliates operating in the service sector. These results suggest that the proliferation of PTAs with deep integration provisions has contributed to the growth of multinational production and facilitated the participation of foreign affiliates in global value chains.