The Effect of Corporate Taxes on Investment and Entrepreneurship

• 成果类型: Article
• 署名作者: Djankov, Simeon; Ganser, Tim; McLiesh, Caralee; Ramalho, Rita; Shleifer, Andrei
• 署名单位: The World Bank; Harvard University; National Bureau of Economic Research
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.2.3.31
• 发表日期: 2010
• 页码: 31-64
• 关键词: policy; debt

摘要

We present new data on effective corporate income tax rates in 85 countries in 2004. The data come from a survey, conducted jointly with PricewaterhouseCoopers, of all taxes imposed on the same standardized mid-size domestic firm. In a cross-section of countries, our estimates of the effective corporate tax rate have a large adverse impact on aggregate investment, FDI, and entrepreneurial activity. Corporate tax rates are correlated with investment in manufacturing but not services, as well as with the size of the informal economy. The results are robust to the inclusion of many controls. (JEL E22, F23, G31, H25, H32, L26)