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The Impact of regional R&D subsidy in a computable general equilibrium model

Garau, Giorgio and Lecca, Patrizio (2013) The Impact of regional R&D subsidy in a computable general equilibrium model. International regional science review , in press. eISSN 1552-6925. Article.

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DOI: 10.1177/0160017613485758

Abstract

This article presents a computable general equilibrium model for the region of Sardinia (Italy) with the purpose of investigating the macroeconomic impact of research and development (R&D) policies. The model incorporates induced technical change obtained through knowledge accumulation and external knowledge spillovers. It turns out that the cost of R&D policies may change according to wage setting in the region. Indeed, the likely size of the optimal subsidy that is required to reach a given target growth is lower when wages are bargained locally compared to the case where wages are bargained nationally. Furthermore, the capacity of such a policy to generate knowledge spillovers from international and interregional trade is quite modest. Indeed, the capacity of the regional system to internalize innovations embedded in imported goods is partially offset by an increase in internal efficiency that lowers the spillover intensity through a reduction in the share of imports.

Item Type:Article
ID Code:8995
Status:In Press
Refereed:Yes
Uncontrolled Keywords:Regional CGE models, R&D policies
Subjects:Area 13 - Scienze economiche e statistiche > SECS-S/03 Statistica economica
Divisions:001 Università di Sassari > 01-a Nuovi Dipartimenti dal 2012 > Scienze Politiche, Scienze della Comunicazione e Ingegneria dell'Informazione
Publisher:Sage
eISSN:1552-6925
Deposited On:07 May 2013 08:11

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