Effectiveness of Fiscal Incentives for R&D: Quasi-experimental Evidence

被引：47
|
作者：
Guceri, Irem [1 ]
Liu, Li [2 ]
机构：
[1] Univ Oxford, Ctr Business Taxat, Said Business Sch, Pk End St, Oxford OX1 1HP, England
[2] Int Monetary Fund, 1900 Penn Ave NW, Washington, DC 20009 USA
来源：
AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY | 2019年 / 11卷 / 01期
关键词：
DEVELOPMENT TAX CREDITS; CORPORATE-TAXATION; POLICY; PRODUCTIVITY; PANEL;
D O I：
10.1257/pol.20170403
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We exploit a 2008 UK policy reform that increased the tax incentives for R&D in medium-sized enterprises relative to large ones, to over-come the endogeneity of exposure to such tax credits. We estimate a difference-in-difference design on the universe of corporation tax filings in the United Kingdom., combined with. other datasets. We find a positive and significant impact of tax credits for R&D, implying a user-cost elasticity estimate of around 1.6. This magnitude implies around $1 in additional private R&D spending per dollar foregone in tax revenue.
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页码：266 / 291
页数：26
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