| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4796 |
| 来源ID | Working Paper 4796 |
| Why is Capital so Immobile Internationally?: Possible Explanations and Implications for Capital Income Taxation | |
| Roger H. Gordon; A. Lans Bovenberg | |
| 发表日期 | 1994-07-01 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | The evidence on international capital immobility is extensive, ranging from the correlations between domestic savings and investment pointed out by Feldstein-Horioka (1980), to real interest differentials across countries, to the lack of international portfolio diversification. To what degree does capital immobility modify past results forecasting that small open economies should not tax savings or investment? The answer depends on the cause of this immobility. We argue that asymmetric information between countries provides the most plausible explanation for the above observations. When we examine optimal tax policy in an open economy allowing for asymmetric information, rather than simply finding that savings and investment should not be taxed, we now forecast government subsidies to foreign acquisitions of domestic firms. Some omitted factors that would argue against subsidizing foreign acquisitions are explored briefly. |
| 主题 | Microeconomics ; Economics of Information ; International Economics ; International Factor Mobility |
| URL | https://www.nber.org/papers/w4796 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562198 |
| 推荐引用方式 GB/T 7714 | Roger H. Gordon,A. Lans Bovenberg. Why is Capital so Immobile Internationally?: Possible Explanations and Implications for Capital Income Taxation. 1994. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w4796.pdf（470KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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