Effects of Changes in Federal Funding for Academic Life Sciences R&D: Crowding-In versus Crowding-Out in the Post-Doubling Era
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چکیده
This paper evaluates effectiveness of federal research funding in stimulating universities’ total research and development (R&D), over a period of dramatic change in the federal funding environment. Instrumental variables estimation reveals that during the NIH budget doubling, 1998—2003, each federal research dollar spurred an additional $0.27 in subsequent research funding from nonfederal sources. In contrast, in the more competitive post-doubling environment, any increase in universities’ federal funding was typically offset by nearly equal decrease in funding from non-federal sources. However, for non-PhD-granting and less research-intensive institutions, federal R&D funding continued to yield larger, positive effects, indicative of signaling.
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تاریخ انتشار 2012