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Public Funding and Corporate Innovation

Mathias Beck (), Martin Junge () and Ulrich Kaiser ()
Additional contact information
Mathias Beck: KOF Swiss Economic Institute, ETH Zurich, Switzerland
Martin Junge: Ministry of Higher Education and Science, Copenhagen, Denmark, https://ufm.dk/en

No 18-437, KOF Working papers from KOF Swiss Economic Institute, ETH Zurich

Abstract: We review and condense the body of literature on the economic returns of public R&D on private R&D and find that: (i) private returns to R&D appear to be large and larger than the returns to alternative investments; (ii) private R&D and R&D subsidies are positively correlated and there is no evidence for crowding out; (iii) R&D cooperation increases private R&D; (iv) there appear to exist complementarities between alternative sources of funding; (v) the mobility of R&D workers, particularly of university scientists, is positively related to innovation; (vi) there are many university spin-offs but these are no more successful than non-university spin-offs; (vii) universities constitute important collaboration partners and (viii) clusters enhance collaboration, patents and productivity. Key problems for economic policy advice are that the identification of causal effects is problematic in most studies and that little is known about the optimal design of policy measures.

Keywords: Keywords: R&D subsidies; R&D tax credits; cooperation; labor mobility; returns to R&D; university spin-offs; R&D clusters; public-private knowledge transfer (search for similar items in EconPapers)
JEL-codes: C54 J6 I28 O3 L52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cse, nep-geo, nep-ino, nep-ppm and nep-sbm
Date: 2018-01
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