Combined with the liberalisation of financial markets, this may cause big changesinthe behaviour of firms and individuals, and hence the previous relationshipbetween money and inflation is likely to break down.
In summary, CXO Advisory Group found no connection betweenthe maximum U.S. capital gains tax rate and U.S. stock market returns, and no relationshipbetweenchangesinthe maximum capital gains rate and stock returns.
To investigate the exact nature and impact of these changes, UNESCO is launching two studies on therelationshipbetween environmental degradation and migration inthe Sahel.