| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP6759
|
| DP6759 Tariffs, Trains, and Trade: The Role of Institutions versus Technology in the Expansion of Markets |
| Wolfgang Keller; Carol Shiue
|
| 发表日期 | 2008-03-23
|
| 出版年 | 2008
|
| 语种 | 英语
|
| 摘要 | Countries compete for new FDI investment, whereas stocks of FDI generate agglomeration benefits and are potentially subject to extortionary taxation. We study the interaction between these aspects in a simple vintage capital framework with discrete time and an infinite horizon, focussing on Markov perfect equilibrium. We show that the equilibrium taxation destabilizes agglomeration advantages. The agglomeration advantage is valuable, but is exploited in the short run. The tax revenue in the equilibrium is substantial, and higher on "old" FDI than on "new" FDI, even though countries are not allowed to use discriminatory taxation. If countries can provide fiscal incentives for attracting new firms, this stabilizes existing agglomeration advantages, but may erode the fiscal revenue in the equilibrium. |
| 主题 | Public Economics
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| 关键词 | Agglomeration
Bidding for firms
Dynamic tax competition
Foreign direct investment
Vintage capital
|
| URL | https://cepr.org/publications/dp6759
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535595
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推荐引用方式
GB/T 7714 |
Wolfgang Keller,Carol Shiue. DP6759 Tariffs, Trains, and Trade: The Role of Institutions versus Technology in the Expansion of Markets. 2008.
|
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