本文以Turnovsky(1996)的內生成長模型為基礎框架，在模型中加入政府對投資進行租稅減免的政府行為，探討政府對投資租稅減免運用不同的融通方式及其對經濟體的影響。模型分析顯示，當投資租稅減免由定額稅或所得稅融通時，投資減免率的提高將使得資本、投資、產出之成長率隨之上升，消費成長率則保持不變。國外債券存量成長率的變化则取決於消費及資本成長率之大小對比，當消費成長率小於資本成長率，國外債券存量成長率會隨之上升。當投資租稅減免由國外利息收入所得稅融通，投資租稅減免率的提高使得資本價格下降。消費成長率與資本、國外債券存量成長率相等，且三者成長率隨之上升。

Based on the Turnovsky’s(1996) endogenous growth model, this paper introduces investment tax credit into the model to discuss the scenario where government uses different ways to finance for investment tax credit and its impact on the economy. Financed by lump-sum tax or income tax, the growth rate of capital，investment and output will increase in response to a rise in investment tax credit. But the growth rate of consumption remains unchanged. The change of the growth rate of foreign bonds stock depends on the relative size of the growth rate between consumption and capital. Financed by interest income tax of foreign bonds, Tobin’q decreases following a rise in investment tax credit. Unlike the former two types of financing, the growth rate of consumption equals the growth rate of capital. Moreover, following an increase in investment tax credit, the growth rate of consumption, capital and foreign bonds stock will increase in response.

第一章 緒論 1
第一節 研究動機與目的 1
第二節 文獻回顧 2
第二章 模型 4
第一節 家計部門 4
第二節 政府部門 7
第三節 總體均衡模型 7
第三章 投資租稅減免融通效果 8
第一節 投資租稅減免由定額稅融通 8
第二節 投資租稅減免由所得稅融通 13
第三節 投資租稅減免由國外利息收入所得稅融通 19
第四章 結論 25
附錄 26
附錄A 26
附錄B 27
附錄C 27
附錄D 28
附錄E 30
參考文獻 31

賴景昌（2017），開放經濟的內生成長理論，未出版講義。
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