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A comparative analysis of business R&D policy in Spain and Portugal

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  • Adão Carvalho
  • Beatriz Corchuelo

Abstract

This paper compares the R&D policy strategy of Spain and Portugal to promote business R&D, with particular attention to R&D objectives, incentives and outcomes. Despite having two of the most generous fiscal systems for R&D, their S&T indicators remain comparatively low compared with the EU average. Perhaps not expected, the BERD/GDP ratio in Portugal has grown at higher rates than that of Spain, leading to a faster approach of Portugal to Spain and the EU average, especially after 2005. On the contrary, the R&D growth rate in Spain has slowed down and began to decrease after 2008, coinciding with the implementation of a tax reform. There are lessons to be learned from each country’s R&D policy.

Suggested Citation

  • Adão Carvalho & Beatriz Corchuelo, 2013. "A comparative analysis of business R&D policy in Spain and Portugal," Economics and Business Letters, Oviedo University Press, vol. 2(3), pages 116-127.
  • Handle: RePEc:ove:journl:aid:10048
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    File URL: http://www.unioviedo.es/reunido/index.php/EBL/article/view/10048
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    1. Adão Carvalho, 2011. "Why are tax incentives increasingly used to promote private R&D?," CEFAGE-UE Working Papers 2011_04, University of Evora, CEFAGE-UE (Portugal).
    2. Martínez Ros, Ester & Corchuelo, Beatriz, 2008. "Aplicación de los incentivos fiscales a la inversión en I+D en las empresas españolas," DEE - Documentos de Trabajo. Economía de la Empresa. DB db080101, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    3. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67, pages 297-297.
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