AI Summary & Key Takeaways
AI InsightCointegration coefficients were estimated by means of Breitung method and it was revealed that 1% increase in tax incentives would increase R&D expenditures of companies by 0.79% and 1% increase in R&D expenditures would raise innovation by 0.34% in these countries.
📌 3 Key Takeaways
Abstract
The present study examined the efficiency of tax policies applied for R&D incentives for the period 1999-2013 for USA, Australia, Denmark, France, Netherlands, England, Spain, Canada and Turkey through panel data analysis. Stationarity of the series was analyzed by means of LLC, IPS and Hadri tests and the series were observed to be I (1). The causality was tested through Dumitrescu and Hurlin method and the causality was determined from tax incentives to R&D expenditures and from R&D expenditures to innovation. Cointegration of series was examined through Pedroni and Westerlund tests and cointegration was determined. Cointegration coefficients were estimated by means of Breitung method and it was revealed that 1% increase in tax incentives would increase R&D expenditures of companies by 0.79% and 1% increase in R&D expenditures would raise innovation by 0.34% in these countries.
Özet
Bu çalışmada Ar-Genin teşviki için uygulanan vergi politikalarının etkinliği ABD, Avustralya, Danimarka, Fransa, Hollanda, İngiltere, İspanya, Kanada ve Türkiyenin 1999-2013 dönemi için panel veri yöntemiyle incelenmiştir. Serilerin durağanlığı LLC, IPS ve Hadri testleriyle incelenmiş ve I(1) oldukları görülmüştür. Nedensellik, Dumitrescu ve Hurlin yöntemiyle incelenmiş ve vergi teşviklerinden Ar-Ge harcamalarına, Ar-Ge harcamalarından da inovasyona doğru nedensellik ilişkilerinin olduğu belirlenmiştir. Seriler arasındaki eşbütünleşme ilişkisi Pedroni ve Westerlund testleriyle incelenmiş ve eşbütünleşme ilişkisi belirlenmiştir. Eşbütünleşme katsayıları Breitung yöntemiyle tahmin edilmiş ve bu ülkelerde; vergi teşvikleri %1 oranında arttığında firmaların Ar-Ge harcamalarının %0,79, Ar-Ge harcamaları %1 arttığında ise inovasyonun %0,34 oranında arttığı görülmüştür.