The impact of public R&D subsidy on small firm productivity: evidence from Korean SMEs

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• 作者：Beom Cheol Cin ; Young Jun Kim ; Nicholas S. Vonortas
• 关键词：SMEs ; R&D ; Research subsidy ; Productivity
• 刊名：Small Business Economics
• 出版年：2017
• 出版时间：February 2017
• 年：2017
• 卷：48
• 期：2
• 页码：345-360
• 全文大小：
• 刊物类别：Business and Economics
• 刊物主题：Management; Microeconomics; Entrepreneurship; Industrial Organization;
• 出版者：Springer US
• ISSN：1573-0913
• 卷排序：48

文摘

This paper explores the effects of R&D promotion policy on SME performance. We use a large panel data set on public R&D subsidies to Korean manufacturing firms. We control for counterfactual outcomes employing the DID (difference in differences) estimation procedure as well as for the endogeneity of the R&D investment and the R&D subsidy using the 2-stage Tobit/Logit DPD (dynamic panel data) procedure. We find significant evidence for positive effects of the public R&D subsidy on both the R&D expenditure and the value added productivity of Korean manufacturing SMEs. The policy thus appears to have been successful in fostering technological advancement and in promoting economic growth.