The impact of public support on firm propensity to engage in R&D: Spanish experience

被引：54
作者：
Huergo, Elena [1 ]
Trenado, Mayte [2 ]
Ubierna, Andres [2 ]
机构：
[1] Univ Complutense Madrid, GRIPICO, Madrid, Spain
[2] CDTI, C Cid 4, Madrid 28001, Spain
来源：
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE | 2016年 / 113卷
关键词：
Public support; R&D projects; Impact analysis; R&D extensive margin; DEVELOPMENT SUBSIDIES; MARKET FAILURES; INNOVATION; PANEL; PERSISTENCE; COMPLEMENT; STIMULATE; PROGRAMS; GROWTH; MODELS;
D O I：
10.1016/j.techfore.2015.05.011
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Our objective is to estimate the effect of public low-interest loans for R&D projects on the probability of performing R&D by Spanish firms. The estimations provide evidence of the effectiveness of public low-interest loans, being the stimulus effect larger for SMEs than for large firms and also higher for manufacturing than for services. Supported firms are approximately 25 percentage points more likely to self-finance their R&D investments than non-supported firms. The effect is quite relevant if we consider that the probability of self-financing R&D activities is 53.2 percentage points higher when the firm has invested in R&D activities in the previous year. This result suggests that firms can be induced persistently to perform R&D activities by means of loans. (C) 2015 Elsevier Inc. All rights reserved.
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页码：206 / 219
页数：14
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