The Effectiveness of R&D Tax Credits

被引：36
作者：
Thomson, Russell [1 ]
机构：
[1] Swinburne Univ Technol, Hawthorn, Vic, Australia
来源：
REVIEW OF ECONOMICS AND STATISTICS | 2017年 / 99卷 / 03期
关键词：
PANEL-DATA MODELS; INVESTMENT; ESTIMATORS; COUNTRIES; POLICY; GMM;
D O I：
10.1162/REST_a_00559
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In order to measure the effect of tax credits on private R&D investment, researchers confront the difficult problem of finding an exogenous measure of tax policy that exhibits sufficient variation to support robust identification. This paper takes a new approach based on exploiting differences in the average capital-labor ratio of R&D investment across industries and variation in the tax treatment of different expenditure types across countries and over time. The estimated short-run elasticity is 0.50 which is somewhat more than double previous estimates derived from cross-country analysis.
引用
收藏
页码：544 / 549
页数：6
相关论文
共 27 条
[11]  
Hsiao C., 2003, Analysis of Panel Data, VSecond, P95
[12]  
JORGENSON DW, 1963, AM ECON REV, V53, P247
[13]   ON BIAS, INCONSISTENCY, AND EFFICIENCY OF VARIOUS ESTIMATORS IN DYNAMIC PANEL-DATA MODELS [J].
KIVIET, JF .
JOURNAL OF ECONOMETRICS, 1995, 68 (01) :53-78
[14]  
Maddala GS, 1999, OXFORD B ECON STAT, V61, P631, DOI 10.1111/1468-0084.61.s1.13
[15]  
Marcel Dagenais, 1997, DO CANADIAN FIRMS RE
[16]  
MCFETRIDGE D, 1983, 70 CAN TAX FDN
[17]   BIASES IN DYNAMIC-MODELS WITH FIXED EFFECTS [J].
NICKELL, S .
ECONOMETRICA, 1981, 49 (06) :1417-1426
[18]  
OECD, 2011, R D DAT TYP EXP IND
[19]  
OECD, 2011, STRUCT AN STAT VAL A
[20]  
Phillips P.C. B., 2000, ECONOMET REV, V19, P263
123