The diffusion of the low interest credits for R&D projets offered by the Spanish government within the Spanish production structure

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Instituto de Análisis Industrial y Financiero, Universidad Complutense de Madrid
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Se analiza la tasa de cobertura, dentro del sistema productivo español, de los créditos de bajo interés para proyectos de I+D ofrecido por el estado español. Abstract: The first part of this paper presents a short introduction concerning the importance of evaluation studies concerning technology policies and a brief discussion about the problems of the selection and use of comparison groups. The empirical part of this paper analyses the diffusion and take-up rate, by Spanish firms, of the low interest credits for R&D projects offered by the Spanish government. This form of public finance of the company’s R&D activity in Spain is carried out by the Centre for the Development of Industrial Technology (CDTI) an institution which plays a fundamental role in the Spanish national and regional system of innovation. The empirical information suggests that less than 1% of all industrial firms, 7% of innovative firms in the broad sense (undertaken any kind of innovative activities) and 23% of the innovative firms in a strict sense (doing R&D) were supported once or in several occasions by the Spanish government over the period 1984-1994. The credits are meant as a general non selective instrument for the promotion of technological development which should be available to all firms that are carrying out innovative activities. But the comparison of the supported firms with other innovative firms makes clear that some firms are excluded or are excluding themselves from this public support scheme.
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