R&D and subsidies at the firm level: an application of parametric and semiparametric two‐step selection models
分析德国制造业中公共研发补贴对企业私人研发投资和新产品销售的影响，使用参数和半参数两步选择模型，发现补贴对受助企业研发强度有正向且稳健的平均处理效应。
Abstract This paper analyzes the effect of public R&D subsidies on firms' private R&D investment per employee and new product sales in German manufacturing. Parametric and semiparametric two‐step selection models are applied to this evaluation problem. The results show that the average treatment effect on the treated firms' R&D intensity is positive. The estimated effects are robust with respect to the different selection models. Further results show that publicly induced R&D spending is as productive as private R&D investment in generating new product sales. Copyright © 2008 John Wiley & Sons, Ltd.