We construct a model of innovation incorporating R&D externalities, R&D participation, financial market imperfections, and application and allocation of R&D subsidies, estimate it using Finnish R&D project level data and conduct a welfare analysis. The intensive, not the extensive R&D margin is...

We show that a DSGE model in which subsidies to private sector R&D stimulate economic growth, following the predictions of semi-endogenous growth theory, can account for the joint behaviour of UK output and total factor productivity for 1981-2010. R&D subsidies are measured as government-funded...

Proceedings of the OECD Workshop on Environmentally Harmful Subsidies, November 2002. For the first time, experts from a variety of backgrounds (government, academics, researchers and representatives of international organisations and civil society) had the opportunity to take stock of and share...