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Public investment in R&D in reaction to economic crises - a longitudinal study for OECD countries
Pellens, Maikel
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Peters, Bettina
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Hud, Martin
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Rammer, Christian
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Licht, Georg
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URL:
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https://madoc.bib.uni-mannheim.de/44603
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URN:
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urn:nbn:de:bsz:180-madoc-446032
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Dokumenttyp:
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Arbeitspapier
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Erscheinungsjahr:
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2018
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Titel einer Zeitschrift oder einer Reihe:
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ZEW Discussion Papers
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Band/Volume:
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18-005
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Ort der Veröffentlichung:
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Mannheim
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Sprache der Veröffentlichung:
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Englisch
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Einrichtung:
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Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
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MADOC-Schriftenreihe:
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Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
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Fachgebiet:
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330 Wirtschaft
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Fachklassifikation:
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JEL:
H54 , H12 , H61,
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Freie Schlagwörter (Englisch):
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Public R&D expenditure , economic crisis , OECD , panel data
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Abstract:
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The paper investigates the reaction of public R&D spending on economic crises. We are interested in two counteracting motives: On the one hand, public R&D spending can be seen as a means to fight the crisis, and governments may decide to increase their R&D budgets. On the other hand, a crisis reduces public income and urges governments to cut spending, which may negatively affect public R&D budgets. Using panel data from 26 OECD countries over the period 1995 to 2015, we investigate how public R&D expenditure changes over the business cycle for different types of government R&D expenditure. On average, we find evidence for a strong pro-cyclical effect on public R&D investments. But country heterogeneity matters. Whereas European innovation leaders and non-EU countries pursue a counter-cyclical strategy, innovation followers and moderate innovators behave pro-cyclical. This leads to an increasing innovation gap in Europe. Short-run and long-run financing conditions (budget surplus and government debt levels) also significantly affect public R&D spending. However, there is no evidence that economic crises systematically affect the composition of public R&D spending along different thematic areas or by beneficiaries.
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 | Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt. |
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Public investment in R&D in reaction to economic crises - a longitudinal study for OECD countries. (deposited 24 Apr 2018 11:01)
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 Suche Autoren in
BASE:
Pellens, Maikel
;
Peters, Bettina
;
Hud, Martin
;
Rammer, Christian
;
Licht, Georg
Google Scholar:
Pellens, Maikel
;
Peters, Bettina
;
Hud, Martin
;
Rammer, Christian
;
Licht, Georg
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