题目：Domestic Tax and Outward Foreign Direct Investment: Evidence from Corporate Tax Unification in China

时间：2019年5月29日　星期三 12:00 – 13:30

地点：明德主楼610

报告人：Yu Liu（刘宇）

摘要：We study the effect of domestic tax on firms’ outward foreign direct investment (OFDI) decisions. We exploit a policy change in China that unifies corporate income tax rates through raising foreign firms’ but reducing domestic firms’ tax rates. Using a difference-in-differences estimator that compares the OFDI of foreign and domestic firms before and after the tax unification, we find that a higher domestic corporate income tax rate increased firms’ OFDI but reduced firms’ domestic capital in China and exports from China, which reflect capital relocation from China to overseas countries. This “capital relocation” effect of the domestic tax increase is stronger for firms of higher productivity.

报告人简介：Yu Liu is an assistant professor at School of Economics of Fudan University. He received his Ph.D. in economics from Yale University and M.Sc. in economics from Hong Kong University of Science and Technology. His main research focuses on public economics and development economics. Recently he has been working on a series of papers on Chinese Tax System and its influences.