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Please use this identifier to cite or link to this item: http://hdl.handle.net/2344/925

タイトル: Tax differentials and inflow of foreign direct investments : evidence from foreign operations of U.S. multinational companies
著者: Watanabe, Yuichi
渡辺, 雄一
キーワード: Developing countries
United States
Foreign investments
International business enterprises
Taxation
Tax differentials
FDI inflow
Developed/Developing countries
Income/Non-income taxation
Developed countries
Issue Date: Dec-2010
出版者: Institute of Developing Economies, JETRO
引用: IDE Discussion Paper. No. 263. 2010.12
抄録: This paper concerns the measurement of the impact of tax differentials across countries on inflow of Foreign Direct Investment (FDI) by using comprehensive data on the foreign operations of U.S. multinational corporations that has been collected by the Bureau of Economic Analysis (BEA), the U.S. Department of Commerce. In particular, this research focuses on examining: (1) how responsive FDI locations are to tax differentials across countries, (2) how different the tax effect on FDI inflow is between developed and developing countries, and (3) whether investment location decisions have become more or less sensitive to tax differences between countries over time ranging from the late 1990s to the early 2000s. Estimation results suggest that high rates of corporate income taxation are associated with reduced foreign assets of U.S. multinational firms in all industries by decreasing the return to foreign asset investment. Further, foreign assets of U.S. multinationals in all industries have become more responsive to non-income tax differentials across countries than to income tax differences from 1999 to 2004. Empirical estimates also indicate that foreign investment by American firms is associated with higher tax sensitivity more in developed countries than in those that are developing.
URI: http://hdl.handle.net/2344/925
Appears in Collections:04.IDE Discussion Paper
01.経済、産業(Economy and Industry)/特定地域なし(Non Region-specific Studies)

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