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국회도서관 홈으로 정보검색 소장정보 검색

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Title page

Contents

Abstract 2

Glossary 5

1. Introduction 6

2. Literature Review 7

3. Foreign Investment 9

4. Effective Tax Rates 12

5. Models and Data 15

6. Regression Results 18

Country-level analysis 18

Country-by-industry analysis 23

7. Conclusions 25

Appendix A. Countries 27

References 28

Tables

Table 1. Descriptive Statistics of Country-Level Regression Variables 17

Table 2. Regressions of PPE Investment 18

Table 3. Regressions of Equity-Financed FDI by Country 19

Table 4. Regressions of Debt-Financed FDI by Country 20

Table 5. Regressions of Retained Earnings-Financed FDI by Country 21

Table 6. Additional Regressions of PPE Investment by Country 22

Table 7. Additional Regressions of Retained Earnings-Financed FDI by Country 23

Table 8. Regressions of PPE Investment, Country-by-Industry 24

Table 9. Regressions of Retained Earnings-Financed FDI, Country-by-Industry 25

Figures

Figure 1. Foreign Investment in the US 10

Figure 2. US Inbound FDI Stock by Industry 11

Figure 3. US Effective Tax Rates Before and After TCJA 13

Figure 4. Change in Effective Tax Rates on Equity-Financed Inbound Investment by Country, 2017-18 14

Figure 5. Change in Effective Tax Rates by Industry, 2017-18 15