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Government policy failure in public support for research and development

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dc.contributor.author Haapanen, Mika
dc.contributor.author Lenihan, Helena
dc.contributor.author Mariani, Marco
dc.date.accessioned 2018-11-29T12:33:29Z
dc.date.available 2018-11-29T12:33:29Z
dc.date.issued 2014
dc.identifier.uri http://hdl.handle.net/10344/7369
dc.description peer-reviewed en_US
dc.description.abstract Promoting Research and Development (R&D) and innovative activity is a key element of the EU Lisbon Agenda and is seen as playing a central part in stimulating economic development. In this paper we argue that, even allowing for benevolent policy-makers, informational asymmetries can lead to a misallocation of public support for R&D, hence government policy failure, with the potential to exacerbate preexisting market failures. Initially, we explore alternative allocation mechanisms for public support, which can help to minimize the scale of these government policy failures. Of these mechanisms (grants, tax credits, or allocation rules based on past performance), our results suggest that none is universally most efficient. Rather, the effectiveness of each allocation rule depends on the severity of financial constraints and on the level of innovative capabilities of the firms themselves. en_US
dc.language.iso eng en_US
dc.publisher Taylor and Francis Ltd en_US
dc.relation.ispartofseries Policy Studies;35 (6), pp. 557-575
dc.relation.uri https://doi.org/10.1080/01442872.2014.971728
dc.rights This is an Author's Manuscript of an article whose final and definitive form, the Version of Record, has been published in Policy Studies 2014 copyright Taylor & Francis, available online at: https://doi.org/10.1080/01442872.2014.971728 en_US
dc.subject R&D en_US
dc.subject subsidy allocation en_US
dc.subject government policy failure en_US
dc.subject policy design en_US
dc.subject policy-makers en_US
dc.subject market failure en_US
dc.subject investment en_US
dc.title Government policy failure in public support for research and development en_US
dc.type info:eu-repo/semantics/article en_US
dc.type.supercollection all_ul_research en_US
dc.type.supercollection ul_published_reviewed en_US
dc.date.updated 2018-11-29T12:24:08Z
dc.description.version ACCEPTED
dc.identifier.doi 10.1080/01442872.2014.971728
dc.rights.accessrights info:eu-repo/semantics/openAccess en_US
dc.internal.rssid 1576484
dc.internal.copyrightchecked Yes
dc.identifier.journaltitle Policy Studies
dc.description.status peer-reviewed


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