Do subsidies have positive impacts on R&D and innovation activities at the firm level?
AbstractIn this paper we analyze whether and how "research" and "development" subsidies influence private R&D activity. Our empirical results show that "research" subsidies stimulate R&D spending within firms while "development" subsidies substitute such spending. At the theoretical level we find empirical support for the market failure argument that private R&D expenditure is best stimulated in areas where the gap between the social and the private rate of return to R&D is high. A policy implication is that technology programs should support research projects in the private sector in order to stimulate to more R&D.
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Bibliographic InfoArticle provided by Elsevier in its journal Structural Change and Economic Dynamics.
Volume (Year): 20 (2009)
Issue (Month): 4 (December)
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Web page: http://www.elsevier.com/locate/inca/525148
Research and development (R&D) subsidies Innovation Norway;
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- Levén, Per & Holmström, Jonny & Mathiassen, Lars, 2014. "Managing research and innovation networks: Evidence from a government sponsored cross-industry program," Research Policy, Elsevier, vol. 43(1), pages 156-168.
- Carboni, Oliviero A., 2013. "Heterogeneity in R&D collaboration: An empirical investigation," Structural Change and Economic Dynamics, Elsevier, vol. 25(C), pages 48-59.
- Barge-Gil, Andrés & López, Alberto, 2011. "R versus D: Estimating the differentiated effect of research and development on innovation results," MPRA Paper 29091, University Library of Munich, Germany.
- Filipe Silva & Carlos Carreira, 2011.
"Do financial constraints threat the innovation process? Evidence from Portuguese firms,"
GEMF Working Papers
2011-10, GEMF - Faculdade de Economia, Universidade de Coimbra, revised Oct 2011.
- Filipe Silva & Carlos Carreira, 2012. "Do financial constraints threat the innovation process? Evidence from Portuguese firms," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 21(8), pages 701-736, November.
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