English, Article, Journal or magazine article edition: Tax Policy and the Globalisation of R&D Russell Thomson

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Tax Policy and the Globalisation of R&​D
Author
  • Russell Thomson
Physical Description
  • preprint
Notes
  • This paper examines the factors influencing the globalisation of R&​D, with a particular focus on the role of tax policy, using panel data for 25 OECD countries over the period 1980- 2005. Two measures of globalisation are considered - R&​D directly financed from abroad and R&​D expenditure by affiliates of US multinational enterprises (MNEs). The econometric analysis, which controls for other determinants of inter-country differences in R&​D investment, finds no evidence that host country tax policy is an important determinant of MNE location decisions or in attracting cross-border contract R&​D. There is evidence that affiliate fixed capital stock and total sales are strong determinants of R&​D performed by affiliates of US MNEs. Controlling for these variables, host country attributes seemed to be less important. In the case of cross-border contract R&​D, host country expenditure on R&​D via institutions of higher education is also found to be important.
  • RePEc:iae:iaewps:wp2009n11
  • This paper examines the factors influencing the globalisation of R&​D, with a particular focus on the role of tax policy, using panel data for 25 OECD countries over the period 1980- 2005. Two measures of R&​D internationalisation are considered - R&​D directly financed from abroad and R&​D expenditure by foreign affiliates of US MNEs. The econometric analysis, which appropriately control for other determinants of inter-country differences in R&​D investment, finds no evidence that host country R&​D tax policy is an important determinant of MNE R&​D location decisions or in attracting additional cross-border contract R&​D. There is evidence that affiliate fixed capital stock and total sales are strong determinants of R&​D performed by affiliates of US MNEs. Controlling for these variables, host country attributes seemed to be less important. In the case of cross-border contract R&​D, host country expenditure on R&​D via institutions of higher education is also found to be important.
  • Globalisation of R&​D, tax policy, foreign direct investment, multinational enterprises
  • RePEc:pas:papers:2009-03
Language
  • English
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