David, Paul A.; Hall, Bronwyn H; Toole, Andrew A. - National Bureau of Economic Research (NBER) - 1999
Is public R&D spending complementary and thus "additional" to private R&D spending, or does it substitute for and tend to "crowd out" private R&D? Conflicting answers are given to this question. We survey the body of available economectric evidence accumulated over the past 35 years. A framework...