论文标题
通过转移定价的经济整合和跨国生产的聚集
Economic Integration and Agglomeration of Multinational Production with Transfer Pricing
论文作者
论文摘要
低公司税总是有利于跨国公司而不是经济融合？我们提出了一个两国模型，跨国公司在其中选择生产工厂和外国分销分支机构的位置，并通过转让价格转移利润。由于贸易成本高，植物集中在低税国家。令人惊讶的是，这种模式以低贸易成本逆转。实际上，经济一体化具有非单调影响：贸易成本下降首先降低，然后增加高税国家的工厂份额，我们从经验上证实。此外，允许转让定价使税收竞争更加艰难，国际转让定价法规的协调可能是有益的。
Do low corporate taxes always favor multinational production over economic integration? We propose a two-country model in which multinationals choose the locations of production plants and foreign distribution affiliates and shift profits between them through transfer prices. With high trade costs, plants are concentrated in the low-tax country; surprisingly, this pattern reverses with low trade costs. Indeed, economic integration has a non-monotonic impact: falling trade costs first decrease and then increase the plant share in the high-tax country, which we empirically confirm. Moreover, allowing for transfer pricing makes tax competition tougher and international coordination on transfer-pricing regulation can be beneficial.
