Public subsidies to business R & D: do they stimulate private expenditures?
The purpose of this paper is to obtain new evidence about a fundamental question of empirical studies on technology policy. Is public R & D a complement to or a substitute for private R & D? We examine, at an industry level, the relationship between private R & D expenditures and public subsidies in Spain, using panel data and controlling the interindustry differences in technological opportunities. The results suggest that public subsidies have complemented private R & D. This is an interesting result because technology policy was reoriented in the 1990s with a reduction of direct government subsidies for R & D and an increase in tax incentives.
Year of publication: |
2005
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Authors: | Callejón, María ; García-Quevedo, José |
Published in: |
Environment and Planning C: Government and Policy. - Pion Ltd, London, ISSN 1472-3425. - Vol. 23.2005, 2, p. 279-293
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Publisher: |
Pion Ltd, London |
Saved in:
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