Hottenrott, Hanna; Lopes Bento, Cindy; Veugelers, Reinhilde - 2014
This study investigates the effects of an R&D subsidy scheme on participating firms' net R&D investment. Making use of … a specific policy design in Belgium that explicitly distinguishes between research and development grants, we estimate … public subsidies induce higher additional investment particularly in research where market failures are larger, even when the …