The impact of R&D subsidies during the crisis

被引：191

作者：

Hud, Martin ^{[1
,2
]}

Hussinger, Katrin ^{[1
,3
,4
]}

机构：

[1] ZEW Ctr European Econ Res, Mannheim, Germany

[2] Maastricht Univ, NL-6200 MD Maastricht, Netherlands

[3] Univ Luxembourg, Luxembourg, Luxembourg

[4] Katholieke Univ Leuven, Dept Managerial Econ Strategy & Innovat, Leuven, Belgium

来源：

RESEARCH POLICY | 2015年 / 44卷 / 10期

关键词：

R&D; Subsidies; Policy evaluation; Economic crisis; Treatment effects; ECONOMIC-CRISIS; PUBLIC SUBSIDIES; FIRM-LEVEL; INNOVATION; PRODUCTIVITY; TIMES; INVESTMENT; MONEY;

D O I：

10.1016/j.respol.2015.06.003

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

This study investigates the impact of public R&D subsidies on R&D investment of small and medium-sized enterprises (SMEs) in Germany during the most recent economic crisis. Our analysis is based on firm-level data of the Mannheim Innovation Panel (MIP) covering the period 2006-2010. While we find an overall positive effect of R&D subsidies on SMEs' R&D investment behavior, there is evidence for a crowding out effect for the crisis year 2009. In 2010, when the German economy started to recover, the subsidy effect is smaller than in the pre-crisis years, but positive and significant. Additional tests indicate that the temporary crowding out effect was caused by reluctant innovation investment behavior of the subsidy recipients rather than by Germany's countercyclical innovation policy during the crisis. (C) 2015 Elsevier B.V. All rights reserved.

引用

页码：1844 / 1855

页数：12

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