The Effects of Fiscal Incentives and Public Subsidies on Private R & D Investment

Angeles Marra Domínguez ()
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Angeles Marra Domínguez: Universidad de Vigo

Hacienda Pública Española / Review of Public Economics, 2008, vol. 184, issue 1, 35-66

Abstract: This paper analyzes the effects of fiscal incentives and public R&D subsidies on the level of R&D investment. The econometric model of R&D investment is estimated using an unbalanced panel sample of Spanish manufacturing firms in the period 1991-1999. Our results provide evidence that fiscal incentives are effective in increasing R&D investment, especially in SME, while R&D subsidies have a small positive effect on company financed R&D expenditure, with no crowding out of private funds.

Keywords: R&D activities; fiscal incentives; public subsidies; SME. (search for similar items in EconPapers)
JEL-codes: H25 O31 O32 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:hpe:journl:y:2008:v:184:i:1:p:35-66

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