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

Guido de Blasio, Davide Fantino and Guido Pellegrini

No 792, Temi di discussione (Economic working papers) from Bank of Italy, Economic Research and International Relations Area

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 paper studies an Italian programme of subsidies for the applied development of innovations, exploiting a discontinuity in programme financing due to an unexpected shortage of public money. To identify the effect of the programme, the study implements a regression discontinuity design and compares firms that applied for funding before and after the shortage occurred. The results indicate that the programme was not effective in stimulating innovative investment.

Keywords: R&D; public policy; evaluation (search for similar items in EconPapers)
JEL-codes: O32 O38 (search for similar items in EconPapers)
Date: 2011-02
New Economics Papers: this item is included in nep-ino, nep-ipr, nep-pr~, nep-ppm and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20)

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Journal Article: Evaluating the impact of innovation incentives: evidence from an unexpected shortage of funds (2015) Downloads
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