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Déficit excesivos e investigación y desarrollo


  • Oscar Afonso

    (Universidad de Oporto (Portugal))

  • Rui Henrique Alves

    (Universidad de Oporto (Portugal))

  • Paulo B. Vasconcelos

    (Universidad de Oporto (Portugal))


Within the debate that involves the application of a tax discipline in the EMU, some authors have questioned the adequacy of the use of the same tax rules for all the different member states, appealing to a more temporary tax flexibility for the small and less developed countries. For such purposes, this paper develops a model of monetary union between two countries that differ in the degree of economic dimension; the exogenous levels of productivity directly related to the quality of the national institutions; the resources of technological knowledge and in the R+D capacity. The outcome obtained suggest that the appropriateness of including some exemptions to the European system of tax discipline, especially in terms of allocating more resources to R+D activities. Its application would affect the measures taken by the less developed countries, making them converge in a faster way.

Suggested Citation

  • Oscar Afonso & Rui Henrique Alves & Paulo B. Vasconcelos, 2008. "Déficit excesivos e investigación y desarrollo," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 68(02), pages 354-369.
  • Handle: RePEc:ekz:ekonoz:2008215

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    More about this item


    Stability and Growth Pact; fiscal discipline; innovation; imitation; research and development;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights


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