2026-06-27T10:55:50Zhttps://docta.ucm.es/rest/oai/requestoai:docta.ucm.es:20.500.14352/178732025-02-14T18:23:59Zcom_20.500.14352_14col_20.500.14352_15
Docta Complutense
author
Huergo Orejas, Elena
author
Moreno Martín, María Lourdes
2023-06-17T21:58:37Z
2023-06-17T21:58:37Z
2017
0048-7333
10.1016/j.respol.2017.05.006
https://hdl.handle.net/20.500.14352/17873
http://www.sciencedirect.com/science/article/pii/S0048733317300811
The objective of this study is to compare the effect of different types of public direct support for R&D projects on firms’ technological capabilities. We distinguish between low-interest loans and national and European subsidies. Using data on 4,407 Spanish firms during the period 2002-2005, we estimate a multivariate probit to analyse the determinants of firms’ participation in public R&D programmes and, later, the impact of this participation on firms’ R&D activities using two different procedures. Regardless of the methodology employed for the analysis, the results suggest that being awarded any type of direct aid clearly increases the probability of conducting R&D activities. In terms of being supported through a unique instrument, the greatest effect corresponds to the case of European grants, where the impact is more than three times larger than the one of loans. As for R&D intensity, the hypothesis of full crowding-out of private R&D is rejected for all types of support. In addition, we find that the impacts of subsidies and loans reinforce each other when they are jointly awarded to SMEs. However, for large firms we cannot rule out the existence of crowding-out effect be-tween subsidies and loans.
eng
Subsidies or loans? Evaluating the impact of R&D support programmes
journal article
URL
https://docta.ucm.es/bitstreams/d993b965-2c2d-40f6-964e-a98084a0f191/download
File
MD5
9492447e9e28ffe644d41c5017f85d68
382073
application/pdf
Huergo-Moreno-24-04-2017-Elena.pdf
URL
https://docta.ucm.es/bitstreams/662b9955-8e8b-4dd0-839b-1717854c2321/download
File
MD5
e5c095919b19dd2c70dfc5b7a44f8146
113248
text/plain
Huergo-Moreno-24-04-2017-Elena.pdf.txt