R&D tax credits and their macroeconomic impact in the EU: an assessment using QUEST III
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Organización Internacional del Trabajo (OIT)
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International Labour Organization
01/01/2017
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| _version_ | 1874525240562810882 |
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| author | Miguel Sanchez Martinez |
| author_facet | Miguel Sanchez Martinez Miguel Sanchez Martinez |
| contents | R&D tax credits and their macroeconomic impact in the EU: an assessment using QUEST III Miguel Sanchez Martinez R&D tax credits are currently used by 25 Member States as a means to stimulate R&D investment and, ultimately, economic growth and employment. This paper is a first attempt to provide an in-depth analysis of the structural economic factors that, other things equal, affect or condition the potential macroeconomic impacts of expanding (or start implementing) R&D tax credit schemes. The analysis is based on the European Commission's QUEST III semi-endogenous growth model. Our main conclusion is that, while the short and medium-term impacts of increased R&D tax credits on Member States' GDP and other macroeconomic aggregates are overall significantly positive, there remains space to substantially improve the cost-effectiveness of these policies.
JRC.B.7-Knowledge for Finance, Innovation and Growth Publications Office of the European Union 10.2760/6922 DOI https://doi.org/10.2760/6922 publication.report |
| format | Reporte |
| id | ilo_995232142802676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 01/01/2017 |
| publisher | International Labour Organization |
| spellingShingle | R&D tax credits and their macroeconomic impact in the EU: an assessment using QUEST III Miguel Sanchez Martinez R&D tax credits and their macroeconomic impact in the EU: an assessment using QUEST III Miguel Sanchez Martinez R&D tax credits are currently used by 25 Member States as a means to stimulate R&D investment and, ultimately, economic growth and employment. This paper is a first attempt to provide an in-depth analysis of the structural economic factors that, other things equal, affect or condition the potential macroeconomic impacts of expanding (or start implementing) R&D tax credit schemes. The analysis is based on the European Commission's QUEST III semi-endogenous growth model. Our main conclusion is that, while the short and medium-term impacts of increased R&D tax credits on Member States' GDP and other macroeconomic aggregates are overall significantly positive, there remains space to substantially improve the cost-effectiveness of these policies. JRC.B.7-Knowledge for Finance, Innovation and Growth Publications Office of the European Union 10.2760/6922 DOI https://doi.org/10.2760/6922 publication.report |
| title | R&D tax credits and their macroeconomic impact in the EU: an assessment using QUEST III |
| url | https://researchrepository.ilo.org/esploro/outputs/report/RD-tax-credits-and-their-macroeconomic/995232142802676 |