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Patent box regimes: Evaluation of ex post tax incentives effects on innovating activity
Červená, Markéta ; Janský, Petr (advisor) ; Frydrych, Milan (referee)
Patent box regimes: Evaluation of ex post tax incentives effects on innovating activity Abstract in English The aim of this thesis is to compare the impacts of patent box introduction on R&D and patenting activity with impacts generated by equivalent change in corporate income tax rate in order to evaluate whether the patent boxes in gen- eral succeed in targeting the tax benefit efficiently on the R&D fostering. Using OECD country-level data panel consolidated from various sources, incl. the PATSTAT database, three different metrics that altogether capture the overall R&D (i.e. actual innovation generating activity) and patenting (i.e. intangible asset generating activity) situation were defined and computed. The SURE (Seemingly unrelated regression equations) estimation method is then used to study those metrics in the context of relevant macroeconomic, R&D and tax indicators, concluding that both, the patent box regime and the statutory cor- porate income tax rate decline have positive impact on R&D and patenting activity, while the effect issued from a patent box introduction tends to be moderated. Despite a special attention given to the comparison of magnitudes of the actual innovation fostering effect and the patent shifting effect associated with the policy change, the analysis was partially...
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Social Cohesion and Growth
Frydrych, Milan ; Horváth, Roman (advisor) ; Franče, Václav (referee)
In this thesis, we examine the effect of social cohesion on economic growth. As a measure of social cohesion, we use Social Cohesion Index that combines several data sources into one comprehensible index covering 155 countries. We deal with model uncertainty and endogeneity of social cohesion at the same time by employing Bayesian model averaging together with two-stage least square estimation. Considering more than twenty regressors for fifty-three countries, we show that social cohesion has a positive effect on economic growth. We perform a prior sensitivity analysis to assess variability of social cohesion across different prior structures. As a robustness check, we include Rule of Law and Integration variables into our model and estimate it with Instrumental Variable Bayesian Model Averaging (IVBMA) methodology to cope with a considerable degree of instrument uncertainty. The results suggest that social cohesion is indeed a vital determinant of economic growth. 1
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