Public Investment Policy in Life-Science Research
AbstractThe article presents a dynamic model of research investment. This model allows us to examine three important channels through which public investment policy can affect the private sector's research investment, that is, the productivity, replacement, and wage effects. Two alternative empirical approaches are introduced to implement the model. Through a unified examination of the productivity, replacement, and wage effects, the empirical estimation of this model will provide insight into whether public-sector research investment crowds in or crowds out private-sector research investment.
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Bibliographic InfoPaper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2006 Annual meeting, July 23-26, Long Beach, CA with number 21330.
Date of creation: 2006
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