20.500.12556/RUL-134917 Instrument policy mix and firm size: is there complementarity between R&D subsidies and R&D tax credits? Nowadays, a rising number of evaluations investigates a multifaceted concept of the policy mix. Our study specifically focuses on the mix of two most frequently used supply-side instruments–R&D subsidies and R&D tax credits. Drawing on the longitudinal sample of Spanish manufacturing firms, we investigate whether there is a complementary interaction between these policy instruments with respect to product and process innovations. Moreover, by employing a dynamic random-effects probit estimator, we account for the persistence of innovation and endogeneity of public support. The results, that are separately estimated for SMEs and large firms, uniformly show evidence of no interplay between two policy instruments either in SMEs or large firms. However, among factors that influence the propensity to product and process innovations, by far, the largest effect is generated by true state dependence. These findings provide some policy implications for fostering product and process innovations in the long run. instrument policy mix R&D subsidies R&D tax credits persistence of innovation SMEs Spanish manufacturing true false true Angleški jezik Angleški jezik Članek v reviji 2022-02-11 08:37:56 2022-02-11 08:59:27 2022-09-14 04:10:40 0000-00-00 00:00:00 2021 0 0 [in press] 2021 0000-00-00 Zaloznikova VTisku NiDoloceno 0000-00-00 0000-00-00 0000-00-00 658 0892-9912 10.1007/s10961-021-09908-8 88831491 RAZ_Petrin_Tea_2021.pdf RAZ_Petrin_Tea_2021.pdf 1 D406CF114EC44C581BB2FFB0C3341C28 57e243255016c1e58992157e0eb3fd664c20445d0088252377ad1adb70b8c219 66baaf18-8b0e-11ec-abdb-00155dcfd717 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=153659 https://link.springer.com/article/10.1007/s10961-021-09908-8 0 70c5957b-8b0e-11ec-abdb-00155dcfd717 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=153660 Ekonomska fakulteta 0 0 0