What Can Be Achieved By Special R&D Funds When There is No Special Leaning Towards R&D Intensive Industries?

Abstract

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may Abstract:This paper explores the effects of Austria's recent Special Funds initiative on the R&D-expenditures of its private corporate sector. It is the first one to approach the due evaluation from a macro perspective. First, simple descriptive statistics show that the noticeable delays in actual disbursements and the replacement of regular RTI-funds by these special funds reduce the latter's scope. Apparently, money can't work unless it is spent and "additional" funds at the expense of regular funds will trigger no additionalities. We then set up an econometric model to derive some inference on the relative importance of different public support channels on the business sectors's R&D spending. Though the estimates suggest that direct government subsidies to R&D-performing firms unfold great leverage effects, the dynamics of output growth as well as an R&D-prone high-tech industry structure seem to be more important drivers of the business sector's R&D intensity. Likewise, feeding special funds into the higher education sector will raise the R&D-intensity of the business enterprise sector only if and to the degree that such funds contribute to Austria's overall economic prosperity or foster structural change towards more R&D-intensive manufacturing.-1 - IntroductionThe world's leading R&D countries, most notably Sweden and Finland, but also the U.S. are typically characterized by a very high share of the corporate sector in total R&D expenditures, while public R&D outlays account for only a minor fraction.Outstanding R&D performances of the private corporate sector do not descend upon countries like "manna from heaven". Instead, large publicly financed initial investments have often laid the grounds for subsequent success. For instance, several authors suggest that the favourable outcome of Finnish R&D performance in these days took its starting point when the government introduced an urgent action plan for the promotion of research and technology development in 1996. Within the three years period 1997-1999 more than FIM 3 billion (about € 504 Mio.) of fresh funds had been disbursed to enhance the operation of the national innovation system. The first evaluation of this program has come to the conclusion that the additional appropriation for research has been highly rewarding: the private business sector expanded its research investments; company profitability rose through increased research input; the number of p...

The contribution of R&D to production efficiency in OECD countries: econometric analysis of industry-level panel data

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