Impact of Public R&D Financing on Private R&D: Does Financial Constraint Matter?
This study analyses how public R&D financing impacts companies. Our main goal is to study whether public and private R&D financing are substitutes or complements, and whether this impact differs between financially constrained and unconstrained companies. Our company-level panel data cover the period from 1996 to 2002. The statistical method employed in the research takes into account the possibility that receiving public support may be an endogenous factor. Our results suggest that public R&D financing does not crowd out privately financed R&D. Instead, receiving a positive decision to obtain public R&D funds increases privately financed R&D. Furthermore, our results suggest that this additionality effect is bigger in large firms than in small firms.
|Date of creation:||Feb 2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +32 2 229 3911
Fax: +32 2 219 4151
Web page: http://www.enepri.org
More information through EDIRC
|Order Information:|| Postal: ENEPRI c/o CEPS Place du Congrès 1 1000 Brussels Belgium|
Web: http://www.enepri.org Email:
When requesting a correction, please mention this item's handle: RePEc:epr:enepwp:030. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CEPS)The email address of this maintainer does not seem to be valid anymore. Please ask CEPS to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.