NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Tax Policy for Innovation

Bronwyn H. Hall

NBER Working Paper No. 25773
Issued in April 2019
NBER Program(s):Public Economics Program, Productivity, Innovation, and Entrepreneurship Program

A large number of countries around the world now provide some kind of tax incentive to encourage firms to undertake innovative activity. This paper presents the policy rationale for these incentives, discusses their design and potential effectiveness, and reviews the empirical evidence on their actual effectiveness. The focus is on the two most important and most studied incentives: R&D tax credits and super deductions, and IP boxes (reduced corporate taxes in income from patents and other intellectual property).

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Document Object Identifier (DOI): 10.3386/w25773

 
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