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R&D subsidies and private R&D expenditures: evidence from Italian manufacturing data

Carboni, Oliviero Antonio (2011) R&D subsidies and private R&D expenditures: evidence from Italian manufacturing data. International Review of Applied Economics, Vol. 25 (4), p. 419-439. eISSN 0269-2171. Article.

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DOI: 10.1080/02692171.2010.529427

Abstract

This paper uses a comprehensive firm level data set for the manufacturing sector in Italy to investigate the effect of government support on privately financed R&D expenditure. Estimates from a non parametric matching procedure suggest that public assistance has a positive effect on private R&D investment in the sense that the recipient firms achieve more private R&D than they would have without public support. This indicates that the possibility of perfect crowding out between private and public fund can be rejected. Furthermore, in this sample of Italian firms, tax incentives appear to be more effective than direct grants. The paper also examines whether public funding effects the financial sources available for R&D and finds that grants encourage the use of internal sources. The results also show some evidence of positive effects on credit financing for R&D.

Item Type:Article
ID Code:6416
Status:Published
Refereed:Yes
Uncontrolled Keywords:Non-parametric estimation, public subsidies, R&D investment
Subjects:Area 13 - Scienze economiche e statistiche > SECS-P/01 Economia politica
Divisions:002 Altri enti e centri di ricerca del Nord Sardegna > CRENoS-Centro Ricerche Economiche Nord Sud, Università di Cagliari e Università di Sassari
001 Università di Sassari > 01 Dipartimenti > Economia, impresa, regolamentazione
Publisher:Routledge
eISSN:0269-2171
Deposited On:29 Aug 2011 09:01

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