The Effects of R&D Subsidies and Publicly Performed R&D on Business R&D: A Survey
Thomas Ziesemer ()
Hacienda Pública Española / Review of Public Economics, 2021, vol. 236, issue 1, 171-205
This literature review shows that a majority of studies find complementarity between R&D subsidies and private R&D expenditures. A minority finds incomplete crowding out. Full crowding out is found only for small parts of the respective samples or small sub-sectors of the economies considered. Publicly performed R&D stimulates private R&D. The exceptions from these dominant results concern firm size, interaction of policy instruments, and effectiveness of parts of publicly performed R&D. Important suggestions for future research derived from the literature review are use of dynamic models with time lags and taking into account the effects of country and firm heterogeneity.
Keywords: Research & Development; Business R&D; Subsidies; Public R&D. (search for similar items in EconPapers)
JEL-codes: H25 O38 (search for similar items in EconPapers)
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Working Paper: The effects of R&D subsidies and publicly performed R&D on business R&D: A survey (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:hpe:journl:y:2021:v:236:i:1:p:171-205
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