Internal and external effects of R&D subsidies and fiscal incentives: Empirical evidence using spatial dynamic panel models

被引:205
作者
Montmartin, Benjamin [1 ,2 ]
Herrera, Marcos [3 ]
机构
[1] Univ Nice Sophia Antipolis, F-06000 Nice, France
[2] CNRS, GREDEG UMR 7321, F-06560 Valbonne, France
[3] Natl Univ Salta, CONICET IELDE, Salta, Argentina
关键词
R&D subsidies; Fiscal incentives; Private R&D; Additionality; Dynamic spatial panel model; ESTIMATORS; INTENSITY; IMPACT;
D O I
10.1016/j.respol.2014.11.013
中图分类号
C93 [管理学];
学科分类号
12 ; 1201 ; 1202 ; 120202 ;
摘要
Most studies evaluating the macroeconomic effects of financial support policies on business-funded R&D use econometric methods that do not consider the existence of spatial effects, and generate biased estimates. In this paper, we discus and address this problem using spatial dynamic panel data methods. This allow us to provide new insights on the internal (in-country) and external (out-of-country) effects of both Research and Development (R&D) subsidies and fiscal incentives. We use a database of 25 OECD countries for the period 1990-2009. In relation to internal effects, for both instruments, we find a nonlinear relationship between their effect on private R&D and their level (suggesting the possibility of leveraging and crowding-out effects). We also find a substitution effect between the R&D subsidies and fiscal incentives implemented within a country. Concerning the spatial component, we find evidence of positive spatial spillovers among private R&D investments. However, our results suggest the existence of competition/substitution effects between national R&D policies. (C) 2014 Elsevier B.V. All rights reserved.
引用
收藏
页码:1065 / 1079
页数:15
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