This paper integrates innovation input and output effects of R&D subsidies into a modified
Crépon–Duguet–Mairesse (CDM) model. Our results largely confirm insights of the input additionality
literature, i.e. public subsidies complement private R&D investment. In addition, results point to positive output effects of both purely privately funded and subsidy–induced R&D. Furthermore, we do not find evidence of a premium or discount of subsidy–induced
R&D in terms of its marginal contribution on new product sales when compared to purely privately financed R&D.
Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.
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