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Complementarity or substitutability between private and public investment in R&D: An empirical study

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Author Info
Ben Zina, Tarek
Ben Zina, Naceur
Abstract

In this paper, we investigate the relationship between private and public investment in R&D. Various models proposed in the literature to take account for several instruments policies as: (subsidies, taxes…) are estimated to verify if private and public R&D spending are complement or substitute. Our empirical study is based on a dynamic panel model for a sample of (23) countries over the period 1992-2004. This research is dealing with the relationship between private and public investment in R&D. Results based on the GMM method of Arellano and Bond (1991) and the tests of causality and unit root applied to the panel data show a positive and significant relation between private and public R&D.

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File URL: http://mpra.ub.uni-muenchen.de/3929/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 3929.

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Date of creation: 22 Apr 2006
Date of revision: 28 Jan 2007
Handle: RePEc:pra:mprapa:3929

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Related research
Keywords: R&D; Complementarity; Substituability; GMM; Dynamic Panel Data.;

Find related papers by JEL classification:
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data
O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D
O33 - Economic Development, Technological Change, and Growth - - Technological Change - - - Technological Change: Choices and Consequences; Diffusion Processes

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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. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Blackwell Publishing, vol. 58(2), pages 277-97, April. [Downloadable!] (restricted)
  3. Bettina Becker & Nigel Pain, 2003. "What Determines Industrial R&D Expenditure in the UK?," NIESR Discussion Papers 211, National Institute of Economic and Social Research. [Downloadable!]
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  4. Paul A. David & Bronwyn H. Hall, . "Heart of Darkness: Public-Private Interactions Inside the R&D Black Box," Working Papers 99024, Stanford University, Department of Economics. [Downloadable!]
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  5. Andrew Levin & Chien-Fu Lin, 1992. "Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties," University of California at San Diego, Economics Working Paper Series 92-23, Department of Economics, UC San Diego. [Downloadable!]
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  6. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, vol. 18(1), pages 47-82, January. [Downloadable!] (restricted)
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