ESTIMATING THE BENEFITS OF TARGETED R&D SUBSIDIES

• 成果类型: Article
• 署名作者: Takalo, Tuomas; Tanayama, Tanja; Toivanen, Otto
• 署名单位: Bank of Finland; KU Leuven
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00280
• 发表日期: 2013-03
• 页码: 255-272
• 关键词: government bureaucracy; revealed preferences; INNOVATION; POLICY; GROWTH; spillovers; PROGRAMS

摘要

We study the expected welfare effects of targeted R&D subsidies using project-level data from Finland. We model the application and R&D investment decisions of firms and the subsidy-granting decision of the public agency in charge of the program. Our model and institutional environment allow us to identify different benefits and costs of the R&D subsidy program. We find that expected effects of subsidies are very heterogeneous and estimated application costs low on average. The social rate of return on targeted subsidies is 30% to 50%, but spillover effects of subsidies are smaller than effects on firm profits.