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Good value for public money? The case of R&D policy

Francesco Aiello (), Giuseppe Albanese and Paolo Piselli ()

Journal of Policy Modeling, 2019, vol. 41, issue 6, 1057-1076

Abstract: This paper evaluates the role of public R&D support on Italian manufacturing SMEs’ innovation activities, focusing on innovation output rather than innovation input. Combining information from EPO records and the Capitalia survey, the new data set enables a counterfactual assessment of R&D policy from 2001 to 2003 (2009 is the final year of the post-treatment period). We find that publicly supported firms have higher R&D expenditure regardless of their characteristics, confirming a strong additionality effect of public policies on innovation inputs. However, this additional spending does not increase firms’ probability of patenting or the number of patents in comparison with privately financed R&D.

Keywords: Patents; R&D support; Policy evaluation; SMEs (search for similar items in EconPapers)
JEL-codes: O31 O38 L1 C21 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:41:y:2019:i:6:p:1057-1076

DOI: 10.1016/j.jpolmod.2019.02.006

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