Corporate Taxation and Productivity Catch‐Up: Evidence from European Firms
研究了公司税率如何影响小企业向生产率前沿追赶的速度，发现法定税率越高，小企业追赶越慢，而大企业受有效边际税率影响。
Abstract In this paper, we explore whether higher corporate tax rates, because they lower the after‐tax returns to productivity‐enhancing investments, reduce the speed with which small firms converge to the productivity frontier. Using data for 11 European countries, we find evidence that their productivity catch‐up is slower when the statutory corporate tax rates are higher. In contrast, we find that large firms are instead affected by effective marginal rates. Using the reduced‐form model of productivity convergence of Griffith et al . (2009, Journal of Regional Science 49 , 689–720), our results are robust to a host of robustness checks and a natural experiment that exploits the 2001 German tax reforms.