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Impactos Dos Fundos Setoriais Nas Empresas

  • Bruno César Araújo
  • Fernanda De Negri
  • Luiz Ricardo Cavalcante
  • Donald Pianto
  • Patrick Alves

Os fundos setoriais foram instituídos no final da década de 1990 com o propósito de criar condições mais estáveis de financiamento público às atividades de ciência, tecnologia e inovação (CT&I) no Brasil. De maneira análoga ao que se observa com outros instrumentos de incentivo à inovação nas empresas, a expectativa é que o acesso aos fundos setoriais contribuiria para o aumento dos esforços tecnológicos e para o alcance de melhores resultados pelas empresas. O objetivo deste trabalho é, portanto, avaliar o impacto desses fundos sobre o esforço tecnológico e sobre os resultados das empresas industriais no Brasil no período entre 2001 e 2006. A base teórica para a discussão é a literatura internacional que tem, recorrentemente, questionado o efeito crowding in ou crowding out de políticas de apoio à inovação nas empresas. Esses trabalhos buscam verificar se as políticas adotadas complementam os recursos alocados nas atividades de inovação pelas empresas ou se haveria simplesmente a substituição desses últimos pelos recursos públicos. Neste artigo, uma técnica quasi-experimental é aplicada para comparar as empresas que acessaram os fundos setoriais com aquelas que não os acessaram, usando dados de painel que incluem informações sobre esforços tecnológicos e resultados. O grupo de controle é definido com base no algoritmo de Propensity Score Matching (PSM) visando eliminar o viés de seleção no acesso aos fundos que faz com que, a priori, as empresas que acessam esses recursos trilhem uma trajetória distinta das empresas que não acessam. Estimativas das diferenças percentuais das taxas de crescimento dos esforços tecnológicos indicam um significativo descolamento entre os grupos de tratamento e controle e permitem que se rejeite a hipótese de crowding out. Os fundos setoriais apresentam ainda um impacto positivo e significativo no pessoal ocupado total, embora apenas um impacto marginalmente significante nas exportações de alto conteúdo tecnológico tenha sido observado, após quatro anos, nas empresas que compõem o grupo de tratamento. Adicionalmente, uma análise preliminar dos impactos dos diferentes instrumentos que compõem os fundos setoriais permite associar a maior parte dos impactos dos recursos à concessão de crédito em condições mais favoráveis. Palavras-chave: Fundos setoriais, políticas de inovação, pesquisa e desenvolvimento, adicionalidade. The Brazilian science and technology sectoral funds were established at the end of the 1990s, aiming at providing more stable financial resources to science, technology, and innovation (ST&I) activities in the country. Similarly to other instruments used to foster innovation at the firm level, the sectoral funds are expected to increase firms` technological efforts as well as their result indicators. The aim of this paper is to evaluate the impacts of these funds on the industrial firms` R&D inputs and outputs in Brazil during the period between 2001 and 2006. Several papers have discussed the additionality or crowding out effects of innovation policies that involve grants and fiscal incentives, for example. In this paper, the firms which accessed the sectoral funds are compared with the ones which did not, based upon the path followed by their indicators of technological efforts (R&D inputs) and results (R&D outputs). The control group was defined using a Propensity Score Matching (PSM) procedure aiming at reducing the selection bias that makes firms which accessed the funds follow a different path when compared to the ones that did not. Percentage difference-indifferences indicate a significant detachment between the technological efforts of the treatment and control groups and permit the hypothesis of crowding out to be rejected. The sectoral funds also presented a significant and positive impact on the number of employees, although only a marginally significant impact on high-tech exports was observed four years after the treatment. Additionally, a preliminary analysis of the impacts of the different instruments that form the sectoral funds suggests that most impacts observed in the technological efforts can be associated to the credit at favorable conditions. Keywords: Sectoral funds, innovation policies, research and development, crowding in.

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Paper provided by Instituto de Pesquisa Econômica Aplicada - IPEA in its series Discussion Papers with number 1737.

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Length: 34 pages
Date of creation: May 2012
Date of revision:
Handle: RePEc:ipe:ipetds:1737
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  1. David, Paul A. & Hall, Bronwyn H. & Toole, Andrew A., 1999. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," Department of Economics, Working Paper Series qt1sz6g8bv, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  2. Isabel Busom, 2000. "An Empirical Evaluation of The Effects of R&D Subsidies," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 9(2), pages 111-148.
  3. Pierre Mohnen & Boris Lokshin, 2009. "What does it take for and R&D tax incentive policy to be effective?," Working Papers 2009/9, Institut d'Economia de Barcelona (IEB).
  4. Almus, Matthias & Czarnitzki, Dirk, 2003. "The Effects of Public R&D Subsidies on Firms' Innovation Activities: The Case of Eastern Germany," Journal of Business & Economic Statistics, American Statistical Association, vol. 21(2), pages 226-36, April.
  5. Hall, Bronwyn & Van Reenen, John, 2000. "How effective are fiscal incentives for R&D? A review of the evidence," Research Policy, Elsevier, vol. 29(4-5), pages 449-469, April.
  6. Aschhoff, Birgit, 2009. "The effect of subsidies on R&D investment and success: do subsidy history and size matter?," ZEW Discussion Papers 09-032, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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