Measuring the impact of financial taxation on capital: Evidence from chilean manufacturing plants

Juan A. Correa, Miguel Lorca, Francisco Parro

Resultado de la investigación: Article

Resumen

Using panel data from Chilean manufacturing plants, we estimate the impact of a stamp tax, levied on loans by financial institutions, on capital stock. Our results show that the tax has a statistically significant negative effect on the stock of capital. Specifically, we find that a rise of one percentage point in the financial tax rate decreases the stock of capital by about 4%. We also find that the impact on firms is heterogeneous, depending on the intensity of the different types of capital they hold. In particular, the demand for capital from firms with a higher percentage of structural assets, such as land and buildings, is relatively less affected by the tax.

Idioma originalEnglish
Páginas (desde-hasta)23-39
Número de páginas17
PublicaciónJournal of Applied Economics
Volumen22
N.º1
DOI
EstadoPublished - 1 ene 2019

Huella dactilar

Manufacturing
Taxation
Tax
Capital stock
Loans
Financial institutions
Tax rate
Assets
Panel data

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Citar esto

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Measuring the impact of financial taxation on capital : Evidence from chilean manufacturing plants. / Correa, Juan A.; Lorca, Miguel; Parro, Francisco.

En: Journal of Applied Economics, Vol. 22, N.º 1, 01.01.2019, p. 23-39.

Resultado de la investigación: Article

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