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Public Funding and Corporate Innovation

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Abstract

We review and condense the body of literature on the economic returns of public R&D on private R&D and find that: (i) private returns to R&D appear to be large and larger than the returns to alternative investments; (ii) private R&D and R&D subsidies are positively correlated and there is no evidence for crowding out; (iii) R&D cooperation increases private R&D; (iv) there appear to exist complementarities between alternative sources of funding; (v) the mobility of R&D workers, particularly of university scientists, is positively related to innovation; (vi) there are many university spin-offs but these are no more successful than non-university spin-offs; (vii) universities constitute important collaboration partners and (viii) clusters enhance collaboration, patents and productivity. Key problems for economic policy advice are that the identification of causal effects is problematic in most studies and that little is known about the optimal design of policy measures.

Suggested Citation

  • Mathias Beck & Martin Junge & Ulrich Kaiser, 2018. "Public Funding and Corporate Innovation," KOF Working papers 18-437, KOF Swiss Economic Institute, ETH Zurich.
  • Handle: RePEc:kof:wpskof:18-437
    DOI: 10.3929/ethz-b-000227682
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    1. Thomas H. W. Ziesemer, 2021. "The Effects of R&D Subsidies and Publicly Performed R&D on Business R&D: A Survey," Hacienda Pública Española / Review of Public Economics, IEF, vol. 236(1), pages 171-205, March.
    2. Pierre Courtioux & François Métivier & Antoine Rebérioux, 2021. "The private return of R&D tax credit," Documents de travail du Centre d'Economie de la Sorbonne 21006, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.

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    More about this item

    Keywords

    Keywords: R&D subsidies; R&D tax credits; cooperation; labor mobility; returns to R&D; university spin-offs; R&D clusters; public-private knowledge transfer;
    All these keywords.

    JEL classification:

    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods

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