| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17202 |
| 来源ID | Working Paper 17202 |
| Tax Policy and the Efficiency of U.S. Direct Investment Abroad | |
| Mihir A. Desai; C. Fritz Foley; James R. Hines Jr. | |
| 发表日期 | 2011-07-08 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Deferral of U.S. taxes on foreign source income is commonly characterized as a subsidy to foreign investment, as reflected in its inclusion among "tax expenditures" and occasional calls for its repeal. This paper analyzes the extent to which tax deferral and other policies inefficiently subsidize U.S. direct investment abroad. Investments are dynamically inefficient if they consistently generate fewer returns to investors than they absorb in new investment funds. From 1982-2010, repatriated earnings from foreign affiliates exceeded net capital investments by $1.1 trillion in 2010 dollars; and from 1950-2010, repatriated earnings and net interest from foreign affiliates exceeded net equity investments and loans by $2.1 trillion in 2010 dollars. By either measure, cash flows received from abroad exceeded 160 percent of net investments, implying that foreign investment over these periods was dynamically efficient. |
| 主题 | Microeconomics ; Behavioral Economics ; Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w17202 |
| 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/574877 |
| 推荐引用方式 GB/T 7714 | Mihir A. Desai,C. Fritz Foley,James R. Hines Jr.. Tax Policy and the Efficiency of U.S. Direct Investment Abroad. 2011. |
| 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 | ||
| w17202.pdf（207KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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