Governments often use direct subsidies or tax credits to encourage investment and promote economic growth and other development objectives. Properly designed and implemented, these incentives can advance a wide range of policy objectives (increasing employment, promoting sustainability, and reducing inequality). Yet since design and implementation are complicated, incentives have been associated with rent-seeking and wasteful public spending.
This collection illustrates the different types and uses of these initiatives worldwide and examines the institutional steps that extend their value. By combining economic analysis with development impacts, regulatory issues, and policy options, these essays show not only how to increase the mobility of capital so that cities, states, nations, and regions can better attract, direct, and retain investments but also how to craft policy and compromise to ensure incentives endure.
- Table of Contents
- Foreword
- 1. Introduction, by Ana Teresa Tavares-Lehmann, Lisa Sachs, Lise Johnson, and Perrine Toledano
- Part I: Invesment Incentives: An Introduction
- 2. Types of Investment Incentives, by Ana Teresa Tavares-Lehmann
- 3. Definitions, Motivations, and Locational Determinants of Foreign Direct Investment, by Sarianna M. Lundan
- Part II: A Global Overview of Investment Incentives
- 4. The Use of Investment Incentives: The Cases of R&D-Related Incentives and International Investment Agreements, by Christian Bellak and Markus Leibrecht
- 5. Incentives in the European Union, by Phillipe Gugler
- 6. Incentives in the United States, by Charles Krakoff and Chris Steele
- 7. Tax Incentives Around the World, by Sebastian James
- Part III: Designing Incentives Programs to Get Value for Money and Achieve Intended Goals
- 8. A Holistic Approach to Investment Incentives, by Louis Brennan and Frances Ruane
- 9. Investment Incentives for Sustainable Developmen, by James Zhan and Joachim Karl
- 10. Cost-Benefit Analysis of Investment Incentives, by Ellen Harpel
- Part IV: Reducing Incentives Competition: Regulatory Efforts to Limit “Races to the Bottom”
- 11. Regulation of Investment Incentives: National and Subnational Efforts to Regulate Competition for Investment Through the Use of Incentives, by Kenneth P. Thomas
- 12. Regulation of Investment Incentives: Instruments at an International/Supranational Level, by Lise Johnson
- 13. Conclusions: Outstanding Issues on the Design and Implementation of Incentives Policies, by Lise Johnson, Perrine Toledano, Lisa Sachs, and Ana Teresa Tavares-Lehmann
- Acknowledgments
- Contributors
- Index
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