Evaluating the impact of innovation incentives: evidence from an unexpected shortage of funds

Guido de Blasio, Davide Fantino and Guido Pellegrini

Industrial and Corporate Change, 2015, vol. 24, issue 6, 1285-1314

Abstract: To evaluate the effect of an R&D subsidy, one needs to know what the subsidized firms would have done without the incentive. This article studies an Italian program of subsidies for the applied development of innovations, exploiting a discontinuity in program financing due to an unexpected shortage of public money. To identify the effect of the program, the study implements a regression discontinuity design and compares firms that applied before and after the shortage occurred. The results indicate that the program was not effective in stimulating innovative investment.

Date: 2015
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Working Paper: Evaluating the impact of innovation incentives: evidence from an unexpected shortage of funds (2011)
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