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首页> 外文期刊>Journal of Regional Science >DO CAPITAL TAX INCENTIVES ATTRACT NEW BUSINESSES? EVIDENCE ACROSS INDUSTRIES FROM THE NEW MARKETS TAX CREDIT
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DO CAPITAL TAX INCENTIVES ATTRACT NEW BUSINESSES? EVIDENCE ACROSS INDUSTRIES FROM THE NEW MARKETS TAX CREDIT

机译：资本税激励措施会吸引新企业吗？新市场税收信用对整个行业的证据

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摘要

In this paper, we examine how government policy affects the sorting of industries across jurisdictions using the New Markets Tax Credit (NMTC) program. When estimating the impact of the tax credit on business activity, there are likely to be unobservable local characteristics that are correlated with business location decisions that would cause OLS estimates to be biased. To control for this endogenous selection, we use a plausibly exogenous eligibility cutoff and compare census tracts that are just eligible for the NMTC program to those that are just ineligible. Using data from the Dun and Bradstreet MarketPlace Files, we find that eligibility for the NMTC program caused industries to sort across eligible and noneligible tracts. In particular, we find that there is an increase in retail employment, both among new businesses and existing businesses, and an increase in manufacturing employment at existing businesses in tracts that were eligible for the program. However, we find negative effects on employment at new firms in the wholesale and transportation industries, and decreases in the number of new firms in FIRE and services. Policy makers should be cognizant of these results, as the implications of the sorting across industries on local areas must be considered to design effective policy.
机译：在本文中，我们使用新市场税收抵免（NMTC）计划研究了政府政策如何影响跨辖区的行业分类。在估算税收抵免对业务活动的影响时，可能存在与业务位置决策相关的不可观察的本地特征，这可能导致OLS估算出现偏差。为了控制这种内生选择，我们使用了合理的外生资格截止标准，并将仅符合NMTC计划的普查区域与不符合NMTC计划的人口普查区域进行比较。使用来自Dun and Bradstreet MarketPlace文件的数据，我们发现符合NMTC计划的资格导致行业在合格和不合格的领域进行分类。特别是，我们发现新企业和现有企业之间的零售业就业都有所增加，而现有企业中符合该计划条件的制造业的就业人数也有所增加。但是，我们发现这对批发和运输业新公司的就业产生了负面影响，并且在FIRE和服务业中新公司的数量减少了。决策者应该意识到这些结果，因为在设计有效的政策时必须考虑跨行业分类对当地的影响。

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  • 来源
    《Journal of Regional Science》 |2016年第5期|733-753|共21页
  • 作者

    Harger Kaitlyn; Ross Amanda;

  • 作者单位

    Florida Gulf Coast Univ, Dept Econ & Finance, Ft Myers, FL 33908 USA;

    West Virginia Univ, Dept Econ, 1601 Univ Ave,POB 6025, Morgantown, WV 26506 USA;

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