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The Effects of Public Subsidies on R&D Employment: Evidence from OECD CountriesRussell K. ThomsonUniversity of Melbourne - Melbourne Institute of Applied Economic and Social Research Paul H. JensenUniversity of Melbourne - Melbourne Institute of Applied Economic and Social Research July 13, 2010 Abstract: Existing empirical evidence suggests that public subsidies and fiscal incentives have a positive effect on the amount of private R&D expenditure. However, most studies have failed to address the possibility at least some of this increase may simply reflect the fact that R&D workers are being paid higher wages. Such an omission may imply that past research has over-estimated the effectiveness of R&D tax concessions. In the absence of widely-available R&D deflators, we consider the impact of a range of public subsidies on the number of full-time equivalent workers employed in R&D (i.e., researchers) in the business sector. Our findings strongly support the effectiveness of both direct subsidies and fiscal incentives.
Number of Pages in PDF File: 36 Keywords: Innovation Policy, R&D Tax Credits, R&D Investment JEL Classification: O38, H25 working papers seriesDate posted: January 16, 2011Suggested CitationContact Information
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