High-tech R&D subsidies - Estimating the effects of Sematech

被引：116

作者：

Irwin, DA

Klenow, PJ

机构：

[1] Graduate School of Business, University of Chicago, Chicago, IL 60637

来源：

JOURNAL OF INTERNATIONAL ECONOMICS | 1996年 / 40卷 / 3-4期

基金：

美国国家科学基金会;

关键词：

R&D; Sematech; semiconductor; consortium; subsidies;

D O I：

10.1016/0022-1996(95)01408-X

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Sparked by concerns about their shrinking market share, 14 leading U.S. semiconductor producers, with the financial assistance of the U.S. government in the form of $100 million in annual subsidies, formed a joint R&D consortium - Sematech - in 1987. Using Compustat data on all U.S. semiconductor firms, we estimate the effects of Sematech on members' R&D spending, profitability, investment, and productivity. In so doing we examine two hypotheses: the 'commitment' hypothesis that Sematech obligates member firms to spend more on high-spillover R&D, and the 'sharing' hypothesis that Sematech reduces duplication of member R&D spending. Whereas the commitment hypothesis provides a rationale for the government subsidies, the sharing hypothesis does not. We find that Sematech induced members to cut their overall R&D spending on the order of $300 million per year, providing support for the sharing hypothesis.

引用

页码：323 / 344

页数：22