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dc.contributor.authorKlette, Tor Jakob
dc.contributor.authorMøen, Jarle
dc.date.accessioned2010-11-14T20:38:56Z
dc.date.available2010-11-14T20:38:56Z
dc.date.issued2010-08
dc.identifier.issn1503-2140
dc.identifier.urihttp://hdl.handle.net/11250/166650
dc.description.abstractWhereas many countries subsidize R&D in private companies through tax credits, subsidies to the Norwegian high-tech industries have traditionally been given as matching grants, i.e. the subsidies are targeted, and the firms have to contribute a 50 percent own risk capital to the subsidized projects. Our results suggest that grants do not crowd out privately financed R&D, but that subsidized firms do not increase their privately financed R&D either. Hence, the own risk capital seems to be taken from ordinary R&D budgets. We also investigate possible long-run effects of R&D subsidies, and show that conventional R&D investment models predict negative dynamic effects of subsidies. Our data, however, do not support this claim. On the contrary, there seem to be positive dynamic effects, i.e. temporary R&D subsidies seem to stimulate firms to increase their R&D investments even after the grants have expired. We propose learning-by-doing in R&D activities as a possible explanation for this, and present a theoretical analysis showing that such effects may alter the predictions of the conventional models. A structural, econometric model of R&D investments incorporating such learning effects is estimated with reasonable results.en
dc.language.isoengen
dc.publisherSNFen
dc.relation.ispartofseriesWorking paperen
dc.relation.ispartofseries2010:33en
dc.subjecttechnology policyen
dc.subjectR&D subsidiesen
dc.subjectshort run additionalityen
dc.subjectlong run additionalityen
dc.subjectNorwegian IT-industryen
dc.titleR&D investment responses to R&D subsidies : a theoretical analysis and a microeconometric studyen
dc.typeWorking paperen


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