| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12155 |
| DP12155 Welfare Effects of R&D Support Policies | |
| Otto Toivanen; Tuomas Takalo | |
| 发表日期 | 2017-07-18 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We build a structural model of the R&D subsidy process incorporating externalities, fixed costs of R&D, and financial market imperfections. We estimate the model using project level R&D and subsidy data from Finland. We conduct a counterfactual analysis of an optimal R&D tax credit policy, the first and second best policies, and laissez-faire with no support and compare them to the subsidy policy used in Finland. We find that the optimal R&D tax credit rate is 0.24, which is lower than the observed average R&D subsidy rate (0.36). R&D participation does not vary across regimes. The R&D investments and spillovers generated by the optimal R&D tax credit and subsidy policies are significantly higher than under laissez-faire but smaller than in the first and second best. Neither tax credits nor subsidies improve welfare compared to laissez-faire. |
| 主题 | Industrial Organization |
| 关键词 | R&d subsidies Welfare Counterfactual |
| URL | https://cepr.org/publications/dp12155 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540967 |
| 推荐引用方式 GB/T 7714 | Otto Toivanen,Tuomas Takalo. DP12155 Welfare Effects of R&D Support Policies. 2017. |
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