Public Support to Business R&D and the Economic Crisis: Spanish Evidence

Barajas, Ascensión and Huergo, Elena and Moreno, Lourdes (2017): Public Support to Business R&D and the Economic Crisis: Spanish Evidence.

Abstract

The objective of the present study is to compare the effect of public support of business R&D on technological inputs and outputs before and during the recent economic crisis. To do so, we use information provided by the Centre for the Development for Industrial Technology (CDTI), which is the main public agency in Spain that grants financial aid of its own to companies for the execution of R&D projects. Specifically, we consider firms supported through CDTI programmes for periods the 2002-2005 and 2010-2012. Impact assessment is conducted using "matching" techniques. Our preliminary results suggest that, during the crisis, public support continued to have positive effects on the resources devoted to R&D activities, and also increased the technological outputs obtained from these resources.

• Item Type: MPRA Paper
• Language: English
• Keywords: Impact assessment, Economic crisis, Public aid, Business R&D
• Subjects: H - Public Economics > H8 - Miscellaneous Issues > H81 - Governmental Loans ; Loan Guarantees ; Credits ; Grants ; Bailouts; L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights

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