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Tax Competition : Is it a Source of the Corporate Savings Glut? / Kawamoto, Atsushi.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Kawamoto, Atsushi.
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Corporate Income Tax.
- Corporate Savings.
- Emerging Market Economies.
- Financial Economics.
- Financing Policy.
- Global Imbalance.
- Macroeconomics and Economic Growth.
- Net Financial Assets.
- Propensity Score Matching.
- Public Sector Development.
- Taxation.
- Taxation and Subsidies.
- Local Subjects:
- Corporate Income Tax.
- Corporate Savings.
- Emerging Market Economies.
- Financial Economics.
- Financing Policy.
- Global Imbalance.
- Macroeconomics and Economic Growth.
- Net Financial Assets.
- Propensity Score Matching.
- Public Sector Development.
- Taxation.
- Taxation and Subsidies.
- Physical Description:
- 1 online resource (31 pages)
- Other Title:
- Tax Competition
- Place of Publication:
- Washington, D.C. : The World Bank, 2020.
- System Details:
- data file
- Summary:
- This paper examines the determinants of corporate savings in a cross-country panel setting. Specifically, it employs firm-level data covering more than 540,000 firm-year observations for 12 advanced and emerging market economies. Panel regression results suggest that reductions in statutory corporate income tax rates can explain one-third of the rise in corporate savings (defined as net financial assets) in 2003-17. This finding is supported by a propensity scores matching analysis of the effects of changes in corporate income tax rates.
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