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Cross-border effects of R&D tax incentives

Author

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  • Knoll, Bodo
  • Riedel, Nadine
  • Schwab, Thomas
  • Todtenhaupt, Maximilian
  • Voget, Johannes

Abstract

Existing evidence shows that R&D tax incentives boost countries’ private sector R&D. Given the importance of multinational enterprises (MNEs) for private sector innovation, it is unclear, however, whether firms engage in genuinely new R&D or whether R&D is reallocated across borders. Drawing on data on unconsolidated R&D activity of MNEs in Europe, we provide evidence that responses are dominated by cross-border relocations: More generous tax incentives in one country increase MNEs’ R&D investments in affiliates located there, while lowering R&D investments in affiliates of the same MNE group located in other countries. Globally, firms hardly raise their R&D activities when tax incentives become more generous.

Suggested Citation

  • Knoll, Bodo & Riedel, Nadine & Schwab, Thomas & Todtenhaupt, Maximilian & Voget, Johannes, 2021. "Cross-border effects of R&D tax incentives," Research Policy, Elsevier, vol. 50(9).
  • Handle: RePEc:eee:respol:v:50:y:2021:i:9:s0048733321001268
    DOI: 10.1016/j.respol.2021.104326
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    Keywords

    Multinational firms; R&D tax incentives; R&D investment;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies

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