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An Empirical Study on Tax Structure, Corporate Tax Burden, and Economic Growth;1t2008-02\ՑYPxhttps://repository.hanyang.ac.kr/handle/20.500.11754/147822;
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|8 1 x ƥD XΔ p8lp\ ȕx8(, xǌݴ8( | $X. 0X 8 8Ĭ 138m 42,210 0X 4\ pt0x OSIRIS| tǩX m 70m 48mX \Ĭ¨8(D !X. \ p8x 1ǰ hX 1ǌD ĳX. , 1990D ȕx8(X 10%p| xXXt, 1`D 0.75%p tǔ <\ , 2000D ȕx8(X 10%p| xXXt, 1`D 0.95%p tǔ <\ . 1ǰ| $\ ĳ \ 1D t踔 <\ . 췘, xǌݴ8(X ɍx xXX Սĳ 1 \ Ĭ| д JŔ <\ . OECD DOECDm \ , DOECDmX p8ED \ ȕx8(xX 1D t 䲔 . tǔ 1D t m 1x mX p8EX ¨1t T t` ǔ t.
OSIRIS| tǩX !\ mX \Ĭ¨8(X , ¨8( xX 1D tH䲔 X\ | ̹, 1ǰ| $\ Ĭ<\ X\ t И JX. tǔ 8Ĭ 0X 4\ pt0X D1 <\ !$((measurement error) 0x\ <\ t. D $\ 8(X , 1 XΔ D $X J@ T XՌ И <\ , 0X 0x p8 0| 0\ٳ, ,Ґ\ٳ X D X 1D tǔ <\ . 1980D~1999D tXՔ (X , Ȩ ȕx8(X 8(D 10%pxX 0.75%p 1`D tǔ <\ , t@ Ǭ\ | . xǌݴ8(D t $\ ĳ ȕx8( 1`X L(-)X Ĭ Ĭ<\ XXՌ , 1D t ȕx8(D |\䲔 \X ȥ \ `D .; The purpose of this article is to show empirically the effect of tax structure and corporate tax burden on economic growth. Past theoretical and empirical works predict that higher corporate tax rates should decrease economic growth rates, while the effects of high personal tax rates are less clear, and that lower corporate tax rates can affect entrepreneurial activity to be more risk-taking. And as corporate tax burden variables, I measure average marginal effective rates from OSIRIS database which has large information of 42,210 firms around 138 countries from 1986 to 2006.
The empirical analysis suggests that the growth rate of GDP per capita from 1970 to 2005 is negatively correlated with statutory top corporate tax rates. In OLS, a 10% point decrease in corporate tax rates is associated with a 0.75% point ~ 0.95% point increase in the annual growth rate of GDP per capita. In OECD countries, the estimated tax coefficient is not significant, but in Non-OECD countries, it is significant statistically. This means that Non-OECD countries are more effective to take tax policy.
The average marginal effective tax rates are also negatively correlated with the growth rate of GDP per capita despite the possibility of measurement errors. The rates containing depreciation are more negatively correlated. This is the evidence that a corporate depreciation policy enables each firm to reduce tax. In panel regression model, the fixed effect model shows that a 10% point decrease in corporate tax rates is associated with a 0.75% point increase in economic growth rate; that is, increases in corporate tax rates lead to lower future growth rates within countries. In the pooling case of corporate tax rates and individual tax rates, only corporate tax rates have a negative correlation with economic growth rates. This is consistent with the recent argument that corporate tax rates should be reduced for economic growth.&HQsj&)KLngajqt
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