Since 2014
Understanding R&D Policy: Efficiency or Politics?
Review of Economics and Institutions
View Archive Info| Field | Value | |
| Title |
Understanding R&D Policy: Efficiency or Politics?
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| Creator |
Perez-Sebastian, Fidel; School of Economics, University of Alicante
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| Subject |
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R&D, policy, market failures, political factors O30; O38; O40 |
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| Description |
This paper searches for the determinants of government-funded R&D. The goal is to disentangle whether the efficiency considerations overwhelmingly emphasized by the theoretical literature are indeed the main driving force behind public R&D expenditures. Another goal of the paper is to assess whether other types of innovation policy such as the degree of patent protection can have an impact on private R&D. I find that there are important differences between rich and poor nations at this respect. In particular, R&D-specific efficiency factors are not significant to explain public R&D in rich nations, whereas related variables such as the access to private credit are important in less developed economies; in rich countries, public innovation effort can be better explained by the political economy variables that determine the size of governments. Private R&D, on the other hand, depends in high income economies on R&D policies not related to direct public innovation effort, but is highly determined by this variable in developing countries. Results suggest that more research on political economy theories of innovation is essential to understand R&D investment.
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| Publisher |
University of Perugia
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| Contributor |
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| Date |
2012-11-13
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://www.rei.unipg.it/rei/article/view/90
10.5202/rei.v3i3.90 |
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| Source |
Review of Economics and Institutions; Vol 3, No 3 (2012); 27
2038-1379 2038-1344 |
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| Language |
eng
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| Relation |
http://www.rei.unipg.it/rei/article/view/90/97
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| Rights |
As further described in our submission agreement, in consideration for publication of the article, the authors assign to the University of Perugia all copyright in the article, subject to the expansive personal-use exceptions described below. Attribution and Usage Policies Reproduction, posting, transmission or other distribution or use of the article or any material therein, in any medium as permitted by a personal-use exemption or by written agreement of the University of Perugia, requires credit to University of Perugia as copyright holder (e.g., University of Perugia © 20011). Personal-use ExceptionsThe following uses are always permitted to the author(s) and do not require further permission from University of Perugia provided the author does not alter the format or content of the articles, including the copyright notification:Posting of the article on the author(s) personal website, provided that the website is non-commercial;Posting of the article on the internet as part of a non-commercial open access institutional repository or other non-commercial open access publication site affiliated with the author(s)'s place of employment;Posting of the article on a non-commercial course website for a course being taught by the author at the university employing the author; andStorage and back-up of the article on the author's computer(s) and digital media (e.g., diskettes, back-up servers, Zip disks, etc.), provided that the article stored on these computers and media is not readily accessible by persons other than the author(s).People seeking an exception, or who have questions about use, should contact The Editor at editor.rei.journal@gmail.com
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