| Do Intangible Assets Explain High U.S. Foreign Direct Investment Returns? Contributor(s): Bridgman, Benjamin (Author), U. S. Department of Commerce Bureau of E (Created by) |
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ISBN: 1288732058 ISBN-13: 9781288732050 Publisher: Bibliogov OUR PRICE: $14.96 Product Type: Paperback Published: February 2013 |
| Additional Information |
| BISAC Categories: - Political Science |
| Physical Information: 0.07" H x 7.44" W x 9.69" (0.18 lbs) 36 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: U.S. investors abroad receive a higher return on their assets than their counterparts that invest in the United States. I examine the degree to which excluding intangible assets from the measurement of foreign direct investment can account for this gap. Using a growth accounting framework, I estimate intangible capital stocks for foreign-owned a liates and nd that including unmeasured capital reduces the gap by up to two thirds. U.S. a liates abroad hold a relatively large share of their assets as intangible capital since they are taxed at the relatively high U.S. corporate rate and intangible investment is expensed. Accounting for intangibles reduces a similar gap in British FDI returns by nearly half. |