Abstract This paper revisits tax competition among governments for foreign direct investment (FDI) by considering the role played by the economic dynamism of competitors on the setting of corporate tax rates (CTRs). Using a database with worldwide coverage over the period 1995–2014, we find that strong growth performance of neighbouring countries is associated with a lower CTR, especially in developed countries. This spatial effect is particularly manifest if competing countries are large and open to capital flows. These results appear to hold in most regions of the world and suggest that governments perceive foreign economic dynamism as a threat, leading them to reduce their CTRs to maintain their FDI attractiveness.

中文翻译：

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国际税收竞争是否仅与税收有关？基于市场的观点

摘要 本文通过考虑竞争者的经济活力在设定公司税率 (CTR) 中所起的作用，重新审视政府之间对外国直接投资 (FDI) 的税收竞争。使用覆盖 1995-2014 年间全球范围的数据库，我们发现邻国的强劲增长表现与较低的点击率相关，尤其是在发达国家。如果竞争国家规模庞大且对资本流动开放，则这种空间效应尤其明显。这些结果似乎在世界大多数地区都成立，并表明政府将外国经济活力视为一种威胁，导致它们降低 CTR 以保持其 FDI 吸引力。