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Evaluating the Impact of Technology Development Funds in Emerging Economies: Evidence from Latin America

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Bronwyn H. Hall
Alessandro Maffioli

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Abstract

Evaluations of government Technology Development Funds (TDF) in Argentina, Brazil, Chile and Panama are surveyed. All the evaluations were done at the recipient (firm) level using data from innovation surveys, industrial surveys, and administrative records of the granting units, together with quasi-experimental econometric techniques to minimize the effects of any selection bias. TDF effectiveness is found to depend on the financing mechanism used, on the presence of non-financial constraints, on firm-university interaction, and on the characteristics of the target beneficiaries. Four levels of potential impact were considered: R&D input additionality, behavioural additionality, increases in innovative output, and improvements in performance. The evidence suggests that TDF do not crowd out private investment and that they positively affect R&D intensity. In addition, participation in TDF induces a more proactive attitude of beneficiary firms towards innovation activities. However, the analysis does not find much statistically significant impact on patents or new product sales and the evidence on firm performance is mixed, with positive results in terms of firm growth, but little corresponding positive impact on measures of firm productivity, possibly because the horizon over which the evaluation was conducted was too short.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 13835.

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Date of creation: Mar 2008
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Handle: RePEc:nbr:nberwo:13835

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Find related papers by JEL classification:
O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D
O38 - Economic Development, Technological Change, and Growth - - Technological Change - - - Government Policy

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  1. Klette, Tor Jakob & Moen, Jarle & Griliches, Zvi, 2000. "Do subsidies to commercial R&D reduce market failures? Microeconometric evaluation studies1," Research Policy, Elsevier, vol. 29(4-5), pages 471-495, April. [Downloadable!] (restricted)
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  2. Bronwyn Hall, 2002. "The Financing of Research and Development," Department of Economics, Working Paper Series 1004, Department of Economics, Institute for Business and Economic Research, UC Berkeley. [Downloadable!]
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  3. Alessandro Maffioli, 2005. "The Formation of Network and Public Intervention: Theory and Evidence from the Chilean Experience," ISLA Working Papers 23, ISLA, Centre for research on Latin American Studies and Transition Economies, Universita' Bocconi, Milano, Italy, revised May 2005. [Downloadable!]
  4. Velho, Lea, 2004. "Science and Technology in Latin America and the Caribbean: An Overview," Discussion Papers 04, United Nations University, Institute for New Technologies. [Downloadable!]
  5. Paul A. David & Bronwyn H. Hall & Andrew A. Toole, 2000. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," Development and Comp Systems 9912002, EconWPA. [Downloadable!]
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  6. Jeffrey Smith & Petra Todd, 2003. "Does Matching Overcome Lalonde's Critique of Nonexperimental Estimators?," University of Western Ontario, CIBC Human Capital and Productivity Project Working Papers 20035, University of Western Ontario, CIBC Human Capital and Productivity Project. [Downloadable!]
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  7. Chiara Binelli & Alessandro Maffioli, 2007. "A Micro-econometric Analysis of Public Support to Private R&D in Argentina," International Review of Applied Economics, Taylor and Francis Journals, vol. 21(3), pages 339-359. [Downloadable!] (restricted)
  8. João Alberto De Negri & Mauro Borges Lemos & Fernanda De Negri, 2006. "The Impact of University Enterprise Incentive Program on the Performance and Technological Efforts of Brazilian Industrial Firms," OVE Working Papers 1306, Inter-American Development Bank, Office of Evaluation and Oversight (OVE). [Downloadable!]
  9. Bruno Crepon & Emmanuel Duguet & Jacques Mairesse, 1998. "Research, Innovation, and Productivity: An Econometric Analysis at the Firm Level," NBER Working Papers 6696, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Teubal, Morris, 1996. "R&D and technology policy in NICs as learning processes," World Development, Elsevier, vol. 24(3), pages 449-460, March. [Downloadable!] (restricted)
  11. Martin, Stephen & Scott, John T., 2000. "The nature of innovation market failure and the design of public support for private innovation," Research Policy, Elsevier, vol. 29(4-5), pages 437-447, April. [Downloadable!] (restricted)
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  12. Richard Blundell & Monica Costa Dias, 2002. "Alternative approaches to evaluation in empirical microeconomics," CeMMAP working papers CWP10/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies. [Downloadable!]
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  13. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67, pages 297. [Downloadable!] (restricted)
  14. João Alberto De Negri & Mauro Borges Lemos & Fernanda De Negri, 2006. "Impact of P&D Incentive Program on the Performance and Technological Efforts of Brazilian Industrial Firms," OVE Working Papers 1406, Inter-American Development Bank, Office of Evaluation and Oversight (OVE). [Downloadable!]
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