R&d and Subsidies at the Firm Level: an Application of Parametric and Semiparametric Two-step Selection Models
نویسندگان
چکیده
This paper analyzes the effect of public R&D subsidies on firms’ private R&D investment per employee and new product sales in German manufacturing. Parametric and semiparametric two-step selection models are applied to this evaluation problem. The results show that the average treatment effect on the treated firms’ R&D intensity is positive. The estimated effects are robust with respect to the different selection models. Further results show that publicly induced R&D spending is as productive as private R&D investment in generating new product sales. Copyright 2008 John Wiley & Sons, Ltd.
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تاریخ انتشار 2008