Pellens, Maikel; Peters, Bettina; Hud, Martin; Rammer, … - 2021 - First version: January 2018, this version: November 2020
We study the cyclicality of public R&D in 28 OECD countries (1995 - 2017). While procyclical on average, public R&D … innovators behave procyclically. Furthermore, the share of public R&D allocated to the business sector is countercyclical, but … countries behind the innovation frontier might strengthen their resilience to economic crises by adopting countercyclical R&D …