Empirical evidence on the effectiveness of R&D subsidies to firms has produced mixed results so far. One possible explanation is that firms and project selection rules may be quite heterogeneous both across agencies and across industries, leading to different outcomes in terms of the induced...

This paper outlines recent developments in U.S. climate policies. Although the United States does not participate in the Kyoto Mechanism, a number of climate policies are being implemented at state level as well as at the federal level. First, we report and compare the federal cap and trade...

Several studies have highlighted that new technology-based firms (NTBFs) are often financially constrained, with these constraints hindering firms' growth and even threatening their survival. Even though the provision of venture capital (VC) may allow firms to overcome these constraints, VC...

A Schumpeterian growth model is constructed where R&D firms innovate to produce better versions of the products or imitate to copy existing innovations. Because firms cannot use their innovations or imitations as collateral, they finance their investment by issuing shares. Households save by...

This paper attempts to quantify the aggregate net effect of government funding on business R&D in 17 OECD Member countries over the past two decades. Grants, procurement, tax incentives and direct performance of research (in public laboratories or universities) are the major policy tools in the...

This Consultation Paper, being issued with a view to making recommendations to the Government under section 11(1)(a)(iv) of the TRAI Act, focuses on the need to bring about convergence in all aspects of regulation of the telecommunications and broadcasting industries. Convergence is a powerful...

There is now substantial empirical evidence, based essentially on the experience of developed countries, that there is underinvestment in industrial R&D consequent to the gradual withdrawal of the state. It is generally observed that government can solve this problem of underinvestment in two...

The international economics of business and management has focused - both in the academic literature and in corporate and public policy discussions - increasingly on issues of globalisation, innovation and 'competitiveness'. These issues, and in particular their interrelation, are analysed in...

One of the aims of government policy has been to speed up the diffusion of new technologies. This aim has been pursued largely by policies aimed at improving information about the technology or by subsidising the purchase of new technology. In this paper we construct a simple diffusion model...

In this paper we analyse the impact of the Fifth EU R&D Framework Programme (1998-2002) in the Spanish regions, considering the characteristics of the respective regional systems of innovation. The starting theoretical framework is the interactive pattern of technological change where the...