R&D HETEROGENEITY AND THE IMPACT OF R&D SUBSIDIES

被引：5
作者：
Galaasen, Sigurd Molster
Irarrazabal, Alfonso
机构：
[1] Norges Bank, Oslo, Norway
[2] BI Norwegian Business Sch, Oslo, Norway
来源：
ECONOMIC JOURNAL | 2021年 / 131卷 / 640期
关键词：
AGGREGATE PRODUCTIVITY; DEVELOPMENT INVESTMENT; GROWTH; MODEL; INNOVATION; SIZE;
D O I：
10.1093/ej/ueab021
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper we study the determinants of R&D heterogeneity and the economic impact of R&D subsidies. We estimate a Schumpeterian growth model featuring firms with heterogeneous innovation efficiencies. The model fits well the R&D investment distribution, and the frequency and relative size of R&D performers. Using the model, we study the impact of a Norwegian R&D reform targeting firms with R&D spending below a certain threshold. The size-dependent subsidy increases aggregate R&D investment by 11.7%, but reduces growth and welfare. In contrast, a uniform subsidy stimulates investment, growth and welfare.
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页码：3338 / 3364
页数：27
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