Even though innovation subsidies and financial constraints are two closely related lines of research, the link between … them is rather unexplored. This paper is, to our knowledge, the first to explicitly analyse both the allocation of … innovation subsidies and their role in alleviating firms’ financial constraints. It is not the purpose of the paper to question …

This paper broadly addresses the financing problems of the innovation process, by analysing the extent to which … financial constraints hinder firms' investment in R&D and innovation, as well as investigating the role of public financial … perverse effect upon R&D investment and innovation, there is no evidence that subsidies mitigate such constraints. Accordingly …

convergence period during which growth in the Portuguese economy accelerated and Portugal grew faster than the EU14 average; and a …, with Portugal falling behind relative to the EU14 in recent years as far as the former are concerned. In order to better … empirical model where innovation and imitation provide two potential sources of productivity growth for countries behind the …