Research and Development: Financial Constraints and the Role of Public Funding for Small and Medium-sized Enterprises

Czarnitzki, Dirk

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URN: urn:nbn:de:bsz:180-madoc-3719
Document Type: Working paper
Year of publication: 2002
The title of a journal, publication series: None
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: C24 O31 O38 ,
Subject headings (SWD): Deutschland , Klein- und Mittelbetrieb , Forschung und Entwicklung
Abstract: This paper presents microeconometric evidence on financing contraints for research and development activities in German small and medium–sized firms (SME). Special attention is paid to the role of public R&D subsidies. For this purpose SME in Western and Eastern Germany are compared because these regions are very different in their supply of public R&D funding. It turns out that Western German SME are financially constrained in their R&D activities by both internal and external resources. In Eastern Germany, firms are not sensitive to external constraints, possibly due to high public R&D subsidies. The results suggest that R&D in Eastern Germany is to a large extent driven by public subsidies since the German re–unification in 1990 and that the usual financial market mechanisms are repealed with respect to R&D in this region.
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