Antonelli, Cristiano; Crespi, Francesco - In: Giornale degli Economisti 71 (2012) 1, pp. 5-31
The paper explores the causes and effects of persistence in the discretionary allocation of public subsidies to R&D activities performed by private firms in high-tech and low-tech industries. It applies the distinction between vicious Matthew-effect and virtuous Matthew-effect. The former...