The Effects of Fiscal Incentives and Public Subsidies on Private R & D Investment
AbstractThis paper analyzes the effects of fiscal incentives and public R&D subsidies on the level of R&D investment. The econometric model of R&D investment is estimated using an unbalanced panel sample of Spanish manufacturing firms in the period 1991-1999. Our results provide evidence that fiscal incentives are effective in increasing R&D investment, especially in SME, while R&D subsidies have a small positive effect on company financed R&D expenditure, with no crowding out of private funds.
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Bibliographic InfoArticle provided by IEF in its journal Hacienda Pública Española/Revista de Economía Pública.
Volume (Year): 184 (2008)
Issue (Month): 1 (April)
R&D activities; fiscal incentives; public subsidies; SME.;
Find related papers by JEL classification:
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
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