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American Firms Are Better Managed, and They Take That With They Abroad
How much of the measured productivity edge of american multi nationals is just tax arbitrage and where profits get assigned to. American companies seem to make huge profits abroad. And one big explanation is they're exploiting lots of this intangible capital, which we think of as good management. I don't see that as being relate to transfer pricing and off shore tax manipulation. But i think american firms are driven at you by better innovation and better management....