Bloom, Nicholas; Schankerman, Mark; Van Reenen, John - C.E.P.R. Discussion Papers - 2005
Support for many R&D and technology policies relies on empirical evidence that R&D ‘spills over’ between firms. But … there are two countervailing R&D spillovers: positive effects from technology spillovers and negative effects from business … telecommunication equipment. Using the model we evaluate three R&D subsidy policies and show that the typical focus of support for small …