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The Impact Of Inflation, Taxation And Accounting Practices On The Evaluation Of Private And Social Rates Of Return To Capital In Canada

Author

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  • Glenn Jenkins

    () (Queen's University, Kingston, On, Canada)

Abstract

The purpose of this paper is to provide a methodology for estimating the rates of return from capital located in the private sectors of the economy. This methodology is then applied to Canadian data and private and economic rates of return from capital are estimated which are largely free from the distortions that taxation laws, inflation, relative price changes and the "conservative" rules of accounting impose on the financial data provided by business firms.

Suggested Citation

  • Glenn Jenkins, 1974. "The Impact Of Inflation, Taxation And Accounting Practices On The Evaluation Of Private And Social Rates Of Return To Capital In Canada," Development Discussion Papers 1974-02, JDI Executive Programs.
  • Handle: RePEc:qed:dpaper:10
    as

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    File URL: http://www.queensjdiexec.org/publications/qed_dp_10.pdf
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    References listed on IDEAS

    as
    1. Sandmo, Agnar & Dreze, Jacques H, 1971. "Discount Rates for Public Investment in Closed and Open Economies," Economica, London School of Economics and Political Science, vol. 38(152), pages 395-412, November.
    2. Glenn Jenkins & JOHN EVANS, 1980. "The Cost Of U.S. Direct Foreign Investment," Development Discussion Papers 1980-01, JDI Executive Programs.
    3. Harberger, Arnold C & Wisecarver, Daniel L, 1977. " Private and Social Rates of Return to Capital in Uruguay," Economic Development and Cultural Change, University of Chicago Press, vol. 25(3), pages 411-445, April.
    4. Boskin, Michael J, 1978. "Taxation, Saving, and the Rate of Interest," Journal of Political Economy, University of Chicago Press, vol. 86(2), pages 3-27, April.
    5. Sjaastad, Larry A & Wisecarver, Daniel L, 1977. "The Social Cost of Public Finance," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 513-547, June.
    6. Danny M. Leipziger, 1974. "Capital Movements and Economic Policy: Canada Under a Flexible Rate," Canadian Journal of Economics, Canadian Economics Association, vol. 7(1), pages 59-74, February.
    7. Glenn P. Jenkins, 1981. "The Public-Sector Discount Rate for Canada: Some Further Observations," Canadian Public Policy, University of Toronto Press, vol. 7(3), pages 399-407, Summer.
    8. David Burgess, 2008. "Removing Some Dissonance From the Social Discount Rate Debate," University of Western Ontario, Economic Policy Research Institute Working Papers 20082, University of Western Ontario, Economic Policy Research Institute.
    9. David F. Burgess, 1981. "The Social Discount Rate for Canada: Theory and Evidence," Canadian Public Policy, University of Toronto Press, vol. 7(3), pages 383-394, Summer.
    10. Glenn Jenkins, 1973. "The Measurement Of Rates Of Return And Taxation From Private Capital In Canada," Development Discussion Papers 1973-02, JDI Executive Programs.
    11. Chun-Yan Kuo & Glenn P. Jenkins & M. Benjamin Mphahlele, 2003. "The Economic Opportunity Cost Of Capital In South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 71(3), pages 523-543, September.
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    More about this item

    Keywords

    rates of return; private capital; Canada;

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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