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This paper explores the existence and importance of financing constraints for R&D investments in large EU and US manufacturing companies over the 2000-2007 period. The main results obtained by estimating error-correction equations suggest that the sensitivity of R&D investments to cash flow...
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-econometric analysis is based on a large international panel data set from the EU Industrial R&D Investment Scoreboard. Employing flexible …&D investment and firm employment, and to address important econometric issues, which is not possible in the standard estimation …
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potential output for a panel of OECD countries is augmented with public investment and its components. The estimations suggest …
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