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How Effective are Fiscal Incentives for R&D? A New Review of the Evidence

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Author Info
Bronwyn H. Hall
John van Reenen

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Abstract

This paper surveys the econometric evidence on the effectiveness of fiscal incentives for R&D. We describe the effects of tax systems in OECD countries on the user cost of R&D - the current position, changes over time and across different firms in different countries. We describe and criticize the methodologies used to evaluate the effect of the tax system on R&D behavior and the results from different studies. In the current (imperfect) state of knowledge we conclude that a dollar in tax credit for R&D stimulates a dollar of additional R&D.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7098.

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Date of creation: Apr 1999
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Handle: RePEc:nbr:nberwo:7098

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Find related papers by JEL classification:
H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives

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  1. Christine Greenhalgh & Padraig Dixon, 2002. "The Economics of Intellectual Property: A Review to Identify Themes for Future Research," Economics Series Working Papers 135, University of Oxford, Department of Economics. [Downloadable!]
    Other versions:
  2. Bronwyn H. HALL, 2004. "University-Industry Research Partnerships in the United States," Economics Working Papers ECO2004/14, European University Institute. [Downloadable!]
  3. Bev Dahlby, 2005. "A Framework for Evaluating Provincial R&D Tax Subsidies," Canadian Public Policy, University of Toronto Press, vol. 31(1), pages 45-58, March. [Downloadable!] (restricted)
  4. Spyros Arvanitis & Nora Sydow & Martin Woerter, 2008. "Is there any Impact of University–Industry Knowledge Transfer on Innovation and Productivity? An Empirical Analysis Based on Swiss Firm Data," Review of Industrial Organization, Springer, vol. 32(2), pages 77-94, March. [Downloadable!] (restricted)
  5. Maloney, William & Rodriguez-Clare, Andres, 2007. "Innovation shortfalls," Policy Research Working Paper Series 4283, The World Bank. [Downloadable!]
    Other versions:
  6. Baghana, Rufin & Mohnen, Pierre, 2009. "Effectiveness of R&D Tax Incentives in Small and Large Enterprises in Quebec," UNU-MERIT Working Paper Series 001, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology. [Downloadable!]
    Other versions:
  7. Kenneth James McKenzie & Natalia Sershun, 2007. "Taxation and R&D: An Investigation of Push and Pull Effects," Working Papers 2007-19, Department of Economics, University of Calgary, revised 01 Dec 2007. [Downloadable!]
  8. Maria Parisi & Alessandro Sembenelli, 2003. "Is Private R & D Spending Sensitive to Its Price? Empirical Evidence on Panel Data for Italy," Empirica, Springer, vol. 30(4), pages 357-377, December. [Downloadable!] (restricted)
    Other versions:
  9. Valerie Mercer-Blackman, 2008. "The Impact of Research and Development Tax Incentives on Colombia's Manufacturing Sector: What Difference Do They Make?," IMF Working Papers 08/178, International Monetary Fund. [Downloadable!]
  10. Frank R. Lichtenberg & Tomas J. Philipson, 2002. "The Dual Effects of Intellectual Property Regulations: Within- and Between-Patent Competition in the US," Working Papers 0209, Harris School of Public Policy Studies, University of Chicago. [Downloadable!]
  11. William Maloney & Andrés Rodríguez-Clare, 2005. "Insuficiencias de innovación," RES Working Papers 4430, Inter-American Development Bank, Research Department. [Downloadable!]
  12. 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!]
    Other versions:
  13. Missaka Warusawitharana, 2008. "Research and development, profits and firm value: a structural estimation," Finance and Economics Discussion Series 2008-52, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
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