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Manufacturing Investment and Taxation in the Nordic Countries

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  • Dufwenberg, Martin
  • Koskenkyla, Heikki
  • Sodersten, Jan

Abstract

The accumulation of fixed productive capital in the manufacturing industries of Denmark, Finland, Norway, and Sweden is analyzed for the period 1965-90. Particular attention is given to the effect of taxes on this process. The following conclusions appear fairly robust across countries: cointegrating long-run relationships can be found within the framework of the neoclassical model; the error-correction estimations indicate that investment is relatively sensitive to economic shocks; and taxes do not seem to have had significant effects on either long-run capital levels or the timing of investment. Copyright 1994 by The editors of the Scandinavian Journal of Economics.

Suggested Citation

  • Dufwenberg, Martin & Koskenkyla, Heikki & Sodersten, Jan, 1994. " Manufacturing Investment and Taxation in the Nordic Countries," Scandinavian Journal of Economics, Wiley Blackwell, vol. 96(3), pages 443-461.
  • Handle: RePEc:bla:scandj:v:96:y:1994:i:3:p:443-61
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    Cited by:

    1. Mikael Carlsson & Stefan Laséen, 2005. "Capital Adjustment Patterns In Swedish Manufacturing Firms: What Model Do They Suggest?," Economic Journal, Royal Economic Society, vol. 115(506), pages 969-986, October.
    2. Carlsson, Mikael, 2000. "Measures of Technology and the Short-Run Responses to Technology Shocks - Is the RBC-Model Consistent with Swedish Manufacturing Data?," Working Paper Series 2000:20, Uppsala University, Department of Economics.
    3. Sijbren Cnossen, 2002. "Tax Policy in the European Union: A Review of Issues and Options," CESifo Working Paper Series 758, CESifo Group Munich.
    4. Takala, Kari, 1995. "The interest rate sensitivity of output in Finland," Research Discussion Papers 11/1995, Bank of Finland.
    5. Cnossen,Sijbren, 2002. "Tax policy in the european union, A review of issues and options," Research Memorandum 023, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    6. Auerbach, A.J. & Hassett, K. & Sodersten, J., 1995. "Taxation and Corporate Investment: The Impact of the 1991 Swedish Tax Reform," Papers 8, Uppsala - Working Paper Series.
    7. Hansen, Sten, 1999. "Agency Costs, Credit Constraints and Corporate Investment," Working Paper Series 79, Sveriges Riksbank (Central Bank of Sweden).

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