Foreign direct investment,tax competition and social expenditure |
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| Authors: | Holger Görg Hassan Molana Catia Montagna |
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| Institution: | 1. Medical Faculty, University of Lund, Lund, Sweden;2. Department of Clinical Immunology and Transfusion Medicine, and Department of Clinical and Experimental Medicine, Linköping University, Linköping, Sweden;3. Department of Clinical Chemistry and Department of Clinical and Experimental Medicine, Linköping University, Linköping, Sweden;4. Department of Intensive and Perioperative Care, Skåne University Hospital Lund, 22185 Lund, Sweden;1. University of Illinois at Chicago, United States;2. CESifo, Germany;3. Department of Finance, University of Illinois at Chicago, 2333 University Hall, 601 South Morgan (MC 168), Chicago, IL 60607-7121, United States;4. Federal Reserve Bank of San Francisco, United States |
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| Abstract: | The aim of this paper is to make a first step towards studying the role of social expenditure and its interaction with corporate taxation in determining the destination of foreign direct investment (FDI) flows. Using panel data for 18 OECD countries and measuring the extent of social welfare policies by the (public social expenditure)/GDP ratio, we find strong support for the conjecture that redistributive social welfare state policies are valued by multinationals as, for instance, they may signal a government's commitment to social stability. |
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