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The Influence of Foreign Factor Prices and International Taxation on Fixed Investment in the UK

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  • Young, Garry

Abstract

This paper examines the influence of foreign factor prices and international corporate taxation on fixed investment in the U.K. manufacturing sector. The evidence suggests that factor prices affect fixed investment in the United Kingdom through their influence on international competitiveness rather than the factor mix decision. There also appears to be a significant effect of tax competitiveness on the rate of investment. Empirical evidence suggests that policy to increase investment be aimed at reducing the average rate rather than the marginal rate of corporation tax. Copyright 1999 by Royal Economic Society.

Suggested Citation

  • Young, Garry, 1999. "The Influence of Foreign Factor Prices and International Taxation on Fixed Investment in the UK," Oxford Economic Papers, Oxford University Press, vol. 51(2), pages 355-373, April.
    • Handle: RePEc:oup:oxecpp:v:51:y:1999:i:2:p:355-73
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    Cited by:

    1. Nigel Pain & Desirée Van Welsum, 2003. "Untying The Gordian Knot: The Multiple Links Between Exchange Rates and Foreign Direct Investment," Journal of Common Market Studies, Wiley Blackwell, vol. 41(5), pages 823-846, December.
    2. Philip Tomlinson, 2002. "The Real Effects of Transnational Activity upon Investment and Labour Demand within Japan's Machinery Industries," International Review of Applied Economics, Taylor & Francis Journals, vol. 16(2), pages 107-129.
    3. Agnès Bénassy-Quéré & Lionel Fontagné & Amina Lahrèche-Révil, 2005. "How Does FDI React to Corporate Taxation?," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 12(5), pages 583-603, September.
    4. Pain, Nigel & Young, Garry, 2004. "The macroeconomic impact of UK withdrawal from the EU," Economic Modelling, Elsevier, vol. 21(3), pages 387-408, May.
    5. Michael P Devereux, 2007. "The Impact of Taxation on the Location of Capital, Firms and Profit: a Survey of Empirical Evidence," Working Papers 0702, Oxford University Centre for Business Taxation.
    6. Nigel Pain & Florence Hubert, 2002. "Aides à l'investissement, intégration européenne et localisation de l'investissement direct allemand," Economie & Prévision, La Documentation Française, vol. 0(1), pages 151-170.
    7. Martina Lawless & Daire McCoy & Edgar L. W. Morgenroth & Conor M. O”Toole, 2018. "Corporate tax and location choice for multinational firms," Applied Economics, Taylor & Francis Journals, vol. 50(26), pages 2920-2931, June.
    8. Yaya KY & Francois Joseph Cabral, 2017. "Innovation and Volatility of the GDP Growth Rate: Case of the Economies of Sub-Saharan Africa," Journal of African Development, African Finance and Economic Association (AFEA), vol. 19(1), pages 88-112.

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