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Effectiveness of fiscal incentives for R&D : quasi-experimental evidence /
With growing academic and policy interest in research and development (R&D) tax incentives, the question about their effectiveness has become ever more relevant. In the absence of an exogenous policy reform, the simultaneous determination of companies' tax positions and their R&D spendi...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, District of Columbia :
International Monetary Fund,
2017.
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| Colección: | IMF working paper ;
WP/17/84. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | With growing academic and policy interest in research and development (R&D) tax incentives, the question about their effectiveness has become ever more relevant. In the absence of an exogenous policy reform, the simultaneous determination of companies' tax positions and their R&D spending causes an identification problem in evaluating tax incentives. To overcome this identification challenge, we exploit a U.K. policy reform and use the population of corporation tax records that provide precise information on the amount of firm-level R&D expenditure. Using difference-in-differences and other panel regression approaches, we find a positive and significant impact of tax incentives on R&D spending, and an implied user cost elasticity estimate of around -1.6. This translates to more than a pound in additional private R&D for each pound foregone in corporation tax revenue. |
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| Descripción Física: | 1 online resource (43 pages) : illustrations, tables. |
| ISBN: | 1475591306 9781475591309 1475591179 9781475591170 |