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Public Sector EntrepreneurshipU.S. Technology and Innovation Policy$
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Dennis Patrick Leyden and Albert N. Link

Print publication date: 2015

Print ISBN-13: 9780199313853

Published to Oxford Scholarship Online: December 2014

DOI: 10.1093/acprof:oso/9780199313853.001.0001

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The R&E Tax Credit of 1981

The R&E Tax Credit of 1981

Chapter:
(p.127) 7 The R&E Tax Credit of 1981
Source:
Public Sector Entrepreneurship
Author(s):

Dennis Patrick Leyden

Albert N. Link

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199313853.003.0007

This chapter argues that the R&E Tax Credit of 1981 (and the Economic Recovery Tax Act of which it is part) is a prime example of public sector entrepreneurship. After describing the legislative history of the Act and the ensuing Tax Reform Act of 1986, the chapter theoretically analyses the effects of R&E tax credits on private sector R&D investments and compares the degree to which industrialized countries employ such credits. The chapter then turns to an analysis of the R&E Tax Credit as an example of public sector entrepreneurship, using the conceptual structure developed in Chapter 3. The chapter then finishes with an empirical assessment of the economic effects of that Act and an outline of the connected debate over whether a flat tax credit or an incremental tax credit is more effective.

Keywords:   flat tax credit, marginal tax credit, networks, returns to R&D, public sector entrepreneurship, R&E tax credit, Tax Reform Act

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