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Project
Econometric evaluation of R&D policy instruments in EU member states.
R&D investment in the business sector is subject to market failure. First, companies cannot appropriate all returns from their R&D investments,as knowledge may spill-over to rivals. Second, firms may suffer from financial constraints for their R&D investments, due to asymmetric information between the company and external investors, such as banks. Thus, firms may lack collateral for needed loans for their R&D activity.
Industrialized countries typically subsidize R&D in the business sector in order to correct for market failure. In current European policypractice it is popular to subsidize innovations, especially by stimulating collaborative research between firms, on the one hand, and between firms and public research institutions on the other hand.
Furthermore, the European Commission recommends granting higher subsidies to Young Innovative Companies, as their investments suffer more from financial constraints than the investments of older, established companies.We intend to evaluate these policy practices using modern, state-of-the-art econometric methods for treatment effects estimation.
Industrialized countries typically subsidize R&D in the business sector in order to correct for market failure. In current European policypractice it is popular to subsidize innovations, especially by stimulating collaborative research between firms, on the one hand, and between firms and public research institutions on the other hand.
Furthermore, the European Commission recommends granting higher subsidies to Young Innovative Companies, as their investments suffer more from financial constraints than the investments of older, established companies.We intend to evaluate these policy practices using modern, state-of-the-art econometric methods for treatment effects estimation.
Date:1 Oct 2009 → 30 Sep 2015
Keywords:R&D collaboration, Innovation, Policy evaluation, R&D policy
Disciplines:Applied economics
Project type:PhD project