Evaluation of Public R&D Policy: A Meta-Regression Analysis
Open Access
- 1 January 2019
- journal article
- research article
- Published by Scientific Research Publishing, Inc. in Technology and Investment
- Vol. 10 (01), 1-29
- https://doi.org/10.4236/ti.2019.101001
Abstract
Economic theory and empirical evidence indicate that technological innovation is an important determinant of long-term economic development. Various country policies have been launched in favour of private research and development (R&D) with economic development as the main objective. As often in economics, public intervention is grounded on the presumed existence of market failures. The purpose of this paper is two-fold. First, it provides an overview of the history of R&D-related tax policies in more than ten industrial countries. Second, after reviewing the existent empirical evidence on the effectiveness of R&D tax credits policies, it presents a meta-regression analysis based on an econometric model. Our results show that an R&D tax credit is strongly significant in the studies taken cumulatively.Keywords
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