RT Journal Article
T1 Public selection and financing of R&D cooperative projects : credit versus subsidy funding
A1 Santamaría Sánchez, Luis
A1 Barge, A.
A1 Modrego, Aurelia
AB In this article we develop an analytical model of the selection process for R&D cooperative projects, tostudy the factors that motivate public project selection and corresponding funding, using two differentfinancial instruments: subsidies and credits. For this purpose, we propose a three stage empirical strategyto analyse the differential individual effects of several factors on the decisions taken by the public agency.This analysis is based on project level data from cooperative R&D project calls under the Spanish PROFITinitiative, for the period 20002003.The main results show that the public agency uses the two financialinstruments to address different objectives. First, some projects close to the market are well supportedthrough credits, while basic research projects receive only selective support in the form of subsidies. Second,there is significant diversity in the selection and funding of technological areas. Third, regarding theexplicit goal of fostering cooperation, the public agency selectively favours partnerships with universitiesand technology institutes through the award of subsidies. However, there seems to be less incentive forlarge consortia. Fourth, there are significant regional differences among financed projects and, also, ourdata show sharp yearly fluctuations
PB Elsevier
SN 0048-7333
YR 2010
FD 2010-05
LK https://hdl.handle.net/10016/12684
UL https://hdl.handle.net/10016/12684
LA eng
DS e-Archivo
RD 20 may. 2024