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|Title:||The Impact Of Public R&d Subsidy On Small Firm Productivity: Evidence From Korean Smes|
Beom Cheol; Kim
Young Jun; Vonortas
|Abstract:||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.|
|Citation:||Small Business Economics. Springer, v. 48, p. 345 - 360, 2017.|
|Appears in Collections:||Unicamp - Artigos e Outros Documentos|
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