Economic Integration and Agglomeration of Multinational Production with Transfer Pricing

Material type: 文書・図像類

Author: Kato, Hayatoほか

Publisher: Graduate School of Economics, Osaka University

Publication date: 2021-01

Material Format: Paper

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Note (General)：: Do low corporate taxes always favor multinational production in the course of economic integration? We propose a two-country model in which multinatio...

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Paper

Material Type: 文書・図像類
Title: Economic Integration and Agglomeration of Multinational Production with Transfer Pricing
Author/Editor: Kato, Hayato
Okoshi, Hirofumi
Author Heading: Kato, Hayato
https://nrid.nii.ac.jp/nrid/1000030837703
Okoshi, Hirofumi
https://nrid.nii.ac.jp/nrid/1000090880295
Publication, Distribution, etc.: Graduate School of Economics, Osaka University
Publication Date: 2021-01
Publication Date (W3CDTF): 2021-01
Periodical title: Discussion Papers In Economics And Business
No. or year of volume/issue: 20-19
Volume: 20-19
Pages: 1-63
Text Language Code: eng
Subject Heading: Profit shifting
Multinational firms
Intra-firm trade
Trade costs
Foreign direct investment(FDI)
Target Audience: 一般
Note (General): Do low corporate taxes always favor multinational production in the course of 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 home plants and foreign affiliates by manipulating transfer prices in intra-firm trade. We show that when trade costs are high, plants are concentrated in the low-tax country, but surprisingly this location pattern reverses when they are low. Unlike existing models with single-plant firms, the impact of economic integration is non-monotonic, which we empirically confirm: a fall in trade costs first decreases and then increases the share of plants in the high-tax country.We also analyze tax competition and find that allowing for transfer pricing makes competition tougher, indicating a possibility of international coordination on transfer-pricing regulation making the world better off.
References (URI): http://www2.econ.osaka-u.ac.jp/econ_society/dp/2019.pdf
URI
http://www2.econ.osaka-u.ac.jp/econ_society/dp/2019.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華