Kasahara, Hiroyuki; Shimotsu, Katsumi; Suzuki, Michio - 2013
credit rate between 2000 and 2003. Estimating the first-difference equation of the linear R&D model by panel GMM, we find the …. Conducting counterfactual experiments, we found that the aggregate R&D expenditure in 2003 would have been lower by 3 ….0-3.4 percent if there had been no tax credit reform in 2003, where 0.3-0.6 percent is attributable to the effect of financial …
