[Title Page]
Contents
1. Introduction 7
2. Model 13
3. Analysis 15
4. Application 21
4.1. Tax-minimizing routes 21
4.2. Centrality measures 26
4.3. Policy implications 29
5. Conclusion 30
Appendix 32
References 36
Table 1. Comparative statics 20
Table 2. Tax rate matrix 22
Table 3. Tax-minimizing investment routes 24
Table 4. Centrality measures 28
Table A.1. Centrality measures 34
Table A.2. Centrality measures 35
Figure A.1. Tax-minimizing investment routes 32
Figure A.2. Tax-minimizing investment routes 33