| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14096 |
| DP14096 Taxation and the External Wealth of Nations: Evidence from Bilateral Portfolio Holdings | |
| Harry Huizinga; Maximilian Todtenhaupt; Johannes Voget; Wolf Wagner | |
| 发表日期 | 2019-11-04 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | This paper examines the impact of capital income taxation on the composition of foreign portfolio investment. Studying bilateral portfolio positions among a sample of 37 countries over the period 2001-2015, we find that capital gains and dividend taxation reduce the share of equities in foreign investments, while interest taxation increases this share. The results suggest that domestic capital income taxation affects the worldwide asset allocation of domestic investors. The estimated tax sensitivities imply a significant increase in country’s external wealth following a tax policy change that stimulates investors to hold higher-yielding equity investments. |
| 主题 | Financial Economics |
| 关键词 | Asset allocation Capital income taxation Foreign portfolio investment |
| URL | https://cepr.org/publications/dp14096 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542983 |
| 推荐引用方式 GB/T 7714 | Harry Huizinga,Maximilian Todtenhaupt,Johannes Voget,et al. DP14096 Taxation and the External Wealth of Nations: Evidence from Bilateral Portfolio Holdings. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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