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BRAZILIAN INNOVATION TAX POLICY AND INTERNATIONAL INVESTMENT: EVIDENCE FROM UNITED STATES ENTERPRISES AND INTERNATIONAL PATENT APPLICATIONS

BRAZILIAN INNOVATION TAX POLICY AND INTERNATIONAL INVESTMENT: EVIDENCE FROM UNITED STATES ENTERPRISES AND INTERNATIONAL PATENT APPLICATIONS

COLOMBO, Daniel Gama e;

Artigo Completo:

Nas últimas décadas conglomerados multinacionais (MNEs) aumentaram o nível de internacionalização de suas atividades de inovação, direcionando mais recursos de pesquisa e desenvolvimento (P&D) para localidades fora de seu país de origem. O Brasil beneficiou-se dessa mudança, e recebeu valores crescentes de investimentos de firmas estrangeiras. Em 2005 o governo federal aprovou um pacote de incentivos fiscais (Lei 11.196/05) para fomentar a inovação empresarial no país reduzindo o custo fiscal de projetos de P&D. Este artigo apresenta uma análise quantitativa original que investiga se essa redução tributária foi capaz de atrair recursos de P&D em detrimento de economias concorrentes. Após uma revisão da literatura sobre fatores locacionais de atração de P&D e uma análise do caso brasileiro, propõe-se um modelo econométrico utilizando dados de investimentos em P&D de MNEs norte-americanas e de pedidos prioritários de patentes. Não é identificada evidência de que os incentivos fiscais brasileiros tenham atraído P&D de destinos alternativos. Esse resultado encontra-se de acordo com pesquisas anteriores que sugerem que o P&D realizado no Brasil por MNEs é primordialmente de natureza adaptativa e voltada ao suporte das atividades locais, e que, por esse motivo, incentivos tributários não são de primeira importância na atração de investimentos. As conclusões do estudo refutam para o caso brasileiro o argumento de que competição fiscal entre países pode levar a um jogo de soma-zero.

Artigo Completo:

In the last decades, multinational enterprises (MNEs) have increased their internationalization levels of innovation activities, directing more resources to research and development (R&D) out of their home countries. Brazil has benefited from such changes and has received increasing investment from MNEs. In 2005, the federal government approved new tax incentives (Law 11,195/05) to foster business innovation in the country by reducing the tax cost of R&D projects. This paper presents the first quantitative assessment on whether these tax breaks have attracted ‘footloose R&D’, diverting international investment from other economies. After a literature review on locational factors for R&D attraction and an analysis of the Brazilian case, an econometric model is presented, using data on R&D investment by U.S. MNEs and priority patent applications. No evidence that Brazilian tax incentives have attracted international R&D from alternative host countries is found. This result is in accordance with previous research suggesting R&D performed in Brazil by MNEs is mainly adaptive and support-oriented and, for this reason, tax incentives are not of primary importance as an attraction factor. It also suggests that claims that international fiscal competition lead to a zero-sum game may be unfounded in the Brazilian case.

Palavras-chave: Incentivo Fiscal, Inovação, Investimento Internacional,

Palavras-chave: Innovation, International investment, Tax incentives,

DOI: 10.5151/enei2017-02

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Como citar:

COLOMBO, Daniel Gama e; "BRAZILIAN INNOVATION TAX POLICY AND INTERNATIONAL INVESTMENT: EVIDENCE FROM UNITED STATES ENTERPRISES AND INTERNATIONAL PATENT APPLICATIONS", p. 17-36 . In: . São Paulo: Blucher, 2017.
ISSN 2357-7592, DOI 10.5151/enei2017-02

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