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R&D Spillovers and the Case for Industrial Policy in an Open Economy

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Leahy, Dermot
Neary, J Peter

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Abstract

In this paper we consider the case for subsidies towards firms which generate R&D spillovers in open economies. We show that in the presence of strategic behaviour by firms many expected results are overturned. Local R&D spillovers to other domestic firms may justify an R&D tax rather than a subsidy; R&D cooperation by local firms over-internalizes the externality and also justifies an R&D tax; and international spillovers which benefit foreign firms may justify a subsidy, even though the government cares only about the profits of home firms.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1671.

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Date of creation: Jul 1997
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Handle: RePEc:cpr:ceprdp:1671

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Related research
Keywords: Industrial Policy; R&D Spillovers; StrategicTrade Policy;

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Find related papers by JEL classification:
F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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  1. Brita Bye, Taran Fæhn and Tom-Reiel Heggedal, 2007. "Welfare and growth impacts of innovation policies in a small, open economy. An applied general equilibrium analysis," Discussion Papers 510, Research Department of Statistics Norway. [Downloadable!]
  2. Giammario Impullitti, 2007. "International Schumpeterian Competition and Optimal R&D subsidies," Economics Working Papers ECO2007/55, European University Institute. [Downloadable!]
  3. Julie DeCourcy, 2007. "Research Joint Ventures And International Competitiveness: Evidence From The National Cooperative Research Act," Economics of Innovation and New Technology, Taylor and Francis Journals, vol. 16(1), pages 51-65, January. [Downloadable!] (restricted)
  4. Lukatch, Ruslan & Plasmans, Joseph, 2000. "R&D and Production Behavior of Asymmetric Duopoly Subject to Knowledge Spillovers," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  5. Tom-Reiel Heggedal and Karl Jacobsen, 2008. "Timing of innovation policies when carbon emissions are restricted: an applied general equilibrium analysis," Discussion Papers 536, Research Department of Statistics Norway. [Downloadable!]
  6. Geremia Palomba, 2004. "Capital Income Taxation and Economic Growth in Open Economies," IMF Working Papers 04/91, International Monetary Fund. [Downloadable!]
  7. Dermot Leahy & J Peter Neary, 2004. "Absorptive Capacity, R&D Spillovers, and Public Policy," Working Papers 200418, School Of Economics, University College Dublin. [Downloadable!]
    Other versions:
  8. Brita Bye, Taran Fæhn, and Leo A. Grünfeld, 2008. "Growth policy in a small, open economy. Domestic innovation and learning from abroad," Discussion Papers 572, Research Department of Statistics Norway. [Downloadable!]
  9. Anita Wölfl, 2000. "Spillover Effects and R&D-Cooperations - The Influence of Market Structure," IWH Discussion Papers 122, Halle Institute for Economic Research. [Downloadable!]
  10. Joseph Plasmans & Ruslan Lukatch, 2001. "Measuring Knowledge Spillovers Using Belgian EPO and USPTO Patent Data," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
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