International Taxation and Multinational Activity

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James R. Hines
University of Chicago Press, Feb 15, 2009 - Business & Economics - 288 pages
Because the actions of multinational corporations have a clear and direct effect on the flow of capital throughout the world, how and why these firms behave the way they do is a major issue for national governments and their policymakers. With an unprecedented ability to adjust the scale, character, and location of their global operations, international corporations have become increasingly sensitive to the kind and degree of tax obligations imposed on them by both host and home countries. Tax rules affect the volume of foreign direct investment, corporate borrowing, transfer pricing, dividend and royalty payments, and research and development. National governments that tax the profits of international firms face important challenges in designing tax policies to attract them. This collection examines the global ramifications of tax policies, offering up-to-date, theoretically innovative, and empirically sound perspectives on a problem of immense significance to future economic growth around the globe.
 

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Contents

Introduction
1
1 Has US Investment Abroad Become More Sensitive to Tax Rates?
9
2 Tax Sparing and Direct Investment in Developing Countries
39
3 Does Corruption Relieve Foreign Investors of the Burden of Taxes and Capital Controls?
73
4 Transaction Type and the Effect of Taxes on the Distribution of Foreign Direct Investment in the United States
89
Is There Evidence of Changes in Behavior?
113
The Effect of Permanently Reinvested Foreign Earnings on Stock Prices
143
7 The Impact of Transfer Pricing on Intrafirm Trade
173
8 International Taxation and the Location of Inventive Activity
201
Estimates from US Multinational Corporations
231
Contributors
265
Author Index
267
Subject Index
271
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About the author (2009)

James R. Hines is Richard A. Musgrave Collegiate Professor of Economics in the department of economics and Professor of Law at the University of Michigan Law School.

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