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Manufacturing Investment and Taxation in the Nordic Countries

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  • Dufwenberg, Martin
  • Koskenkyla, Heikki
  • Sodersten, Jan

Abstract

The accumulation of fixed productive capital in the manufacturing industries of Denmark, Finland, Norway, and Sweden is analyzed for the period 1965-90. Particular attention is given to the effect of taxes on this process. The following conclusions appear fairly robust across countries: cointegrating long-run relationships can be found within the framework of the neoclassical model; the error-correction estimations indicate that investment is relatively sensitive to economic shocks; and taxes do not seem to have had significant effects on either long-run capital levels or the timing of investment. Copyright 1994 by The editors of the Scandinavian Journal of Economics.

Suggested Citation

  • Dufwenberg, Martin & Koskenkyla, Heikki & Sodersten, Jan, 1994. "Manufacturing Investment and Taxation in the Nordic Countries," Scandinavian Journal of Economics, Wiley Blackwell, vol. 96(3), pages 443-461.
    • Handle: RePEc:bla:scandj:v:96:y:1994:i:3:p:443-61
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    Cited by:

    1. Mikael Carlsson & Stefan Laséen, 2005. "Capital Adjustment Patterns In Swedish Manufacturing Firms: What Model Do They Suggest?," Economic Journal, Royal Economic Society, vol. 115(506), pages 969-986, October.
    2. Takala, Kari, 1995. "The interest rate sensitivity of output in Finland," Bank of Finland Research Discussion Papers 11/1995, Bank of Finland.
    3. Carlsson, Mikael, 2000. "Measures of Technology and the Short-Run Responses to Technology Shocks - Is the RBC-Model Consistent with Swedish Manufacturing Data?," Working Paper Series 2000:20, Uppsala University, Department of Economics.
    4. Sijbren Cnossen, 2002. "Tax Policy in the European Union: A Review of Issues and Options," CESifo Working Paper Series 758, CESifo.
    5. Réjane Hugounenq & Jacques Le Cacheux & Thierry Madiès, 1999. "Diversité des fiscalités européennes et risques de concurrence fiscale," Revue de l'OFCE, Programme National Persée, vol. 70(1), pages 63-109.
    6. repec:hal:spmain:info:hdl:2441/2094 is not listed on IDEAS
    7. Alan J. Auerbach & Kevin Hassett & Jan Sodersten, 1995. "Taxation and Corporate Investment: The Impact of the 1991 Swedish Tax Reform," NBER Working Papers 5189, National Bureau of Economic Research, Inc.
    8. Takala, Kari, 1995. "The interest rate sensitivity of output in Finland," Research Discussion Papers 11/1995, Bank of Finland.
    9. Cnossen, S., 2002. "Tax policy in the European Union : a review of issues and options," Research Memorandum 023, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    10. repec:zbw:bofrdp:1995_011 is not listed on IDEAS
    11. Hansen, Sten, 1999. "Agency Costs, Credit Constraints and Corporate Investment," Working Paper Series 79, Sveriges Riksbank (Central Bank of Sweden).

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