Do Intangible Assets Explain High U.S. Foreign Direct Investment Returns?

Bridgman, Benjamin

ISBN 10: 1288732058 / ISBN 13: 9781288732050

Published by Bibliogov, 2013

About this Item

PRINT ON DEMAND pp. 36.

Seller Inventory # 18385971627

Bibliographic Details

• Title: Do Intangible Assets Explain High U.S. Foreign Direct Investment Returns?
• Publisher: Bibliogov
• Publication Date: 2013
• Language: English
• ISBN 10: 1288732058
• ISBN 13: 9781288732050
• Binding: Soft cover
• Condition: New

About this title

Synopsis

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.