The Effect of Corporate Tax Rate on Foreign Direct Investment: A Panel Study for OECD Countries

Öz

This paper examines the impact of corporate income tax rate on foreign direct investment level (FDI) in the OECD countries. We attempt to find the impact of reduced corporate tax rate on foreign direct investment. We find that FDI level increases significantly following tax rate reductions at univariate level. We use fixed effect panel estimation and GMM method of estimation to test the relation between tax rate and FDI level. We report a negative relation between tax rate and FDI level. Our findings show that the countries which reduce their tax rates, attract higher level of FDI following this reduction

Anahtar Kelimeler

• Foreign direct investment, OECD, corporate tax rate

Kurumlar Vergisi Oranının Yabancı Sermaye Yatırımları Üzerindeki Etkisi: OECD Ülkelerine Yönelik Bir Panel Çalışması

Öz

Bu çalışma OECD üyesi ülkelerdeki kurumlar vergisi oranının doğrudan yabancı sermaye yatırımları (DYS) üzerindeki etkisini incelemektedir. Çalışmada kurumlar vergisi oranının düşürülmesinin doğrudan yabancı yatırımlar üzerindeki etkisini ortaya koymayı amaçladık. Doğrudan yabancı sermaye yatırımlarının vergi oranlarının düşürülmesinden sonra anlamlı bir biçimde artış gösterdiğini bulduk. Vergi oranları ile DYS arasındaki ilişkiyi incelemek için sabit etki panel regresyonu ve GMM tahmin modelini kullandık. Vergi oranları ile DYS arasında negatif bir ilişki bulduk. Sonuçlarımız vergi oranlarını düşüren ülkelerin, bu düşüşü izleyen süreçte daha yüksek seviyede DYS çektiğini göstermektedir

Anahtar Kelimeler

• Doğrudan yabancı yatırım, OECD, kurumlar vergisi oranı

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