20.500.12556/RUL-137541 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 specifcally 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 frms, 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-efects probit estimator, we account for the persistence of innovation and endogeneity of public support. The results, that are separately estimated for SMEs and large frms, uniformly show evidence of no interplay between two policy instruments either in SMEs or large frms. However, among factors that infuence the propensity to product and process innovations, by far, the largest efect is generated by true state dependence. These fndings provide some policy implications for fostering product and process innovations in the long run. SMEs research socio-economic development instrument policy mix R&D subsidies R&D tax credits persistence of innovation Spanish manufacturing majhna in srednja podjetja raziskave družbenoekonomski razvoj true false true Angleški jezik Slovenski jezik Članek v reviji 2022-06-21 13:10:36 2022-06-21 13:17:41 2022-09-15 04:15:21 0000-00-00 00:00:00 2022 0 0 [in press] 2022 0000-00-00 Zaloznikova VTisku NiDoloceno 0000-00-00 0000-00-00 0000-00-00 502.131.1 0892-9912 10.1007/s10961-021-09908-8 111778563 Instrument_policy_mix_and_firm_size_is_there_complementarity_between_R&D_subsidies_and_R&D_tax_credits.pdf Instrument_policy_mix_and_firm_size_is_there_complementarity_between_R&D_subsidies_and_R&D_tax_credits.pdf 1 28FABD24A20D2880289F20E9D33350C4 a6746373b202e03cff10f1e7d3c6f1532232be42e8d30f2a48cb04ed327788b0 546375ff-f153-11ec-8aca-00155dcfd717 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=157530 https://link.springer.com/article/10.1007/s10961-021-09908-8 0 7e1db1d0-f153-11ec-8aca-00155dcfd717 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=157532 Ekonomska fakulteta 0 0 0