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Government Subsidies To Private Military R&D Investmen: Dod'S Ir&D Policy

  • LICHTENBERG, F.R.

A relatively obscure defense procurement policy establishes a large subsidy to private military R&D investment. On the surface, it appears that the marginal subsidy to such investment is zero, but this is only true in the short run. Due to DOD's policy of allowable-cost determination, the long-run subsidy is substantial. It is much larger, in fact, than the subsidy provided by the R&D Tax Credit enacted in 1981. I calculate the subsidy by estimating an econometric model using contractor-level data from the Defense Contract Audit Agency. This subsidy may have an important influence on the amount and character of privately financed innovation in the U.S.

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Paper provided by Columbia - Graduate School of Business in its series Papers with number fb-_88-01.

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Length: 13 pages
Date of creation: 1988
Date of revision:
Handle: RePEc:fth:colubu:fb-_88-01
Contact details of provider: Postal: U.S.A.; COLUMBIA UNIVERSITY, GRADUATE SCHOOL OF BUSINESS, PAINE WEBBER , New York, NY 10027 U.S.A
Phone: (212) 854-5553
Web page: http://www.gsb.columbia.edu/

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  1. Reppy, Judith, 1977. "Defense department payments for `company-financed' R&D," Research Policy, Elsevier, vol. 6(4), pages 396-410, October.
  2. William P. Rogerson, 1988. "Profit Regulation of Defense Contractors and Prizes for Innovation : Theory and Evidence," Discussion Papers 759, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. Lichtenberg, Frank R, 1988. "The Private R&D Investment Response to Federal Design and Technical Competitions," American Economic Review, American Economic Association, vol. 78(3), pages 550-59, June.
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