Complementarity or substitutability between private and public investment in R&D: An empirical study

Tarek Ben Zina and Naceur Ben Zina

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, we investigate the relationship between private and public investment in R&D. Various models proposed in the literature to take account for several instruments policies as: (subsidies, taxes…) are estimated to verify if private and public R&D spending are complement or substitute. Our empirical study is based on a dynamic panel model for a sample of (23) countries over the period 1992-2004. This research is dealing with the relationship between private and public investment in R&D. Results based on the GMM method of Arellano and Bond (1991) and the tests of causality and unit root applied to the panel data show a positive and significant relation between private and public R&D.

Keywords: R&D; Complementarity; Substituability; GMM; Dynamic Panel Data (search for similar items in EconPapers)
JEL-codes: C33 O32 O33 (search for similar items in EconPapers)
Date: 2006-04-22, Revised 2007-01-28
New Economics Papers: this item is included in nep-ino, nep-ipr and nep-pr~
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:3929

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