El próximo seminario de investigación se realizará el miércoles 11 de abril a las 15:30 h, en Euncet Business School:

CONTENIDO

There is strong cross-country evidence that innovation drives productivity growth and consequently income per capita growth. Research and Development (R&D) is the source of most innovations. Yet, private incentives to invest in R&D are limited, leading to suboptimal investment levels. While there are several factors affecting incentives, economic analysis has identified two of them as universal: knowledge spillovers and financial market failures. These market failures justify using public support to encourage more private R&D effort. Two widespread instruments to do so are public subsidies to firms’ research projects (direct support) and tax incentives (indirect support). Implementing these policies to obtain the desired results is not straightforward, and the probability that public support crowds out private effort is positive. Empirical evaluation of the (ex-post) impact of these policies becomes essential to assess whether these policies are well designed and public funds are properly allocated. The purpose of the seminar is to present an overview of the methodology and findings concerning the impact of public subsidies over time and the use of direct and indirect support by Spanish firms.