Public R&D policies and cost behavior of the US manufacturing industries

• 成果类型: Article
• 署名作者: Mamuneas, TP; Nadiri, MI
• 署名单位: New York University; University of Cyprus; National Bureau of Economic Research
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(96)01588-5
• 发表日期: 1996
• 页码: 57-81
• 关键词: R&D expenditures; technological spillovers; PRODUCTIVITY

摘要

This paper estimates and evaluates the contribution of R&D tax incentives and publicly financed R&D investment policies in promoting the growth of output and privately funded R&D investment in US manufacturing industries. Publicly financed R&D induces cost savings but crowds out privately financed R&D investment, while the incremental R&D tax credit and immediate deductibility provision of R&D expenditures have a significant impact on privately financed R&D investment. The optimal mix of both instruments is an important element for sustaining a balanced growth in output and productivity in the manufacturing sector.