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Instrument policy mix and firm size: is there complementarity between R&D subsidies and R&D tax credits?
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Petrin, Tea
(
Author
),
ID
Radičić, Dragana
(
Author
)
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https://link.springer.com/article/10.1007/s10961-021-09908-8
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Abstract
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.
Language:
English
Keywords:
instrument policy mix
,
R&D subsidies
,
R&D tax credits
,
persistence of innovation
,
SMEs
,
Spanish manufacturing
Work type:
Article
Typology:
1.01 - Original Scientific Article
Organization:
EF - School of Economics and Business
Publication status:
In print
Publication version:
Version of Record
Year:
2021
PID:
20.500.12556/RUL-134917
UDC:
658
ISSN on article:
0892-9912
DOI:
10.1007/s10961-021-09908-8
COBISS.SI-ID:
88831491
Publication date in RUL:
11.02.2022
Views:
690
Downloads:
134
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Record is a part of a journal
Title:
The Journal of technology transfer
Shortened title:
J. technol. transf.
Publisher:
Springer
ISSN:
0892-9912
COBISS.SI-ID:
5981212
Licences
License:
CC BY 4.0, Creative Commons Attribution 4.0 International
Link:
http://creativecommons.org/licenses/by/4.0/
Description:
This is the standard Creative Commons license that gives others maximum freedom to do what they want with the work as long as they credit the author.
Licensing start date:
07.12.2021
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