Tax Competition : Is It a Source of the Corporate Savings Glut?

Tax Competition : Is It a Source of the Corporate Savings Glut?

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 r...

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Bibliographic Details
Main Authors: Kawamoto, Atsushi, Muraki, Kei
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2020
Subjects:
CORPORATE SAVINGS
GLOBAL IMBALANCE
CORPORATE INCOME TAX
PROPENSITY SCORE MATCHING
FINANCING POLICY
TAXATION
EMERGING MARKET ECONOMIES
NET FINANCIAL ASSETS
Online Access:http://documents.worldbank.org/curated/en/970321593089112651/Tax-Competition-Is-It-a-Source-of-the-Corporate-Savings-Glut
http://hdl.handle.net/10986/34017
id okr-10986-34017
recordtype oai_dc
spelling okr-10986-340172022-09-20T00:13:01Z Tax Competition : Is It a Source of the Corporate Savings Glut? Kawamoto, Atsushi Muraki, Kei CORPORATE SAVINGS GLOBAL IMBALANCE CORPORATE INCOME TAX PROPENSITY SCORE MATCHING FINANCING POLICY TAXATION EMERGING MARKET ECONOMIES NET FINANCIAL ASSETS 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. 2020-07-02T16:15:37Z 2020-07-02T16:15:37Z 2020-06 Working Paper http://documents.worldbank.org/curated/en/970321593089112651/Tax-Competition-Is-It-a-Source-of-the-Corporate-Savings-Glut http://hdl.handle.net/10986/34017 English Policy Research Working Paper;No. 9302 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic CORPORATE SAVINGS
GLOBAL IMBALANCE
CORPORATE INCOME TAX
PROPENSITY SCORE MATCHING
FINANCING POLICY
TAXATION
EMERGING MARKET ECONOMIES
NET FINANCIAL ASSETS
spellingShingle CORPORATE SAVINGS
GLOBAL IMBALANCE
CORPORATE INCOME TAX
PROPENSITY SCORE MATCHING
FINANCING POLICY
TAXATION
EMERGING MARKET ECONOMIES
NET FINANCIAL ASSETS
Kawamoto, Atsushi
Muraki, Kei
Tax Competition : Is It a Source of the Corporate Savings Glut?
relation Policy Research Working Paper;No. 9302
description 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.
format Working Paper
author Kawamoto, Atsushi
Muraki, Kei
author_facet Kawamoto, Atsushi
Muraki, Kei
author_sort Kawamoto, Atsushi
title Tax Competition : Is It a Source of the Corporate Savings Glut?
title_short Tax Competition : Is It a Source of the Corporate Savings Glut?
title_full Tax Competition : Is It a Source of the Corporate Savings Glut?
title_fullStr Tax Competition : Is It a Source of the Corporate Savings Glut?
title_full_unstemmed Tax Competition : Is It a Source of the Corporate Savings Glut?
title_sort tax competition : is it a source of the corporate savings glut?
publisher World Bank, Washington, DC
publishDate 2020
url http://documents.worldbank.org/curated/en/970321593089112651/Tax-Competition-Is-It-a-Source-of-the-Corporate-Savings-Glut
http://hdl.handle.net/10986/34017
_version_ 1764480006920077312

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