Estimating the Benefits of Targeted R&D Subsidies
| Autor: | Tanja Tanayama, Otto Toivanen, Tuomas Takalo |
|---|---|
| Rok vydání: | 2013 |
| Předmět: |
Rate of return
Economics and Econometrics Public economics media_common.quotation_subject Subsidy jel:D04 Microeconomics jel:G38 jel:O31 applications financing of innovations R&D investments selection subsidies treatment program welfare Business economics Investment decisions Spillover effect jel:H25 jel:L59 Agency (sociology) Economics jel:O38 Welfare Social Sciences (miscellaneous) media_common |
| Zdroj: | Review of Economics and Statistics. 95(1):255-272 |
| DOI: | 10.1162/REST_a_00280 |
| Popis: | We study the expected welfare effects of targeted R&D subsidies using project-level data from Finland. We model the application and R&D investment decisions of firms and the subsidy-granting decision of the public agency in charge of the program. Our model and institutional environment allow us to identify different benefits and costs of the R&D subsidy program. We find that expected effects of subsidies are very heterogeneous and estimated application costs low on average. The social rate of return on targeted subsidies is 30% to 50%, but spillover effects of subsidies are smaller than effects on firm profits. © 2013 The President and Fellows of Harvard College and the Massachusetts Institute of Technology. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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