Does public research and development funding stimulate additional private research and development spending?
Larson, Katherine M.
Thesis (M.P.P.)--Georgetown University, 2011.; Includes bibliographical references.; Text (Electronic thesis) in PDF format. This study examines the effects of federal research and development (R&D) funding on private R&D spending. The dependent variable is a subset of private spending that excludes federal funds, and was selected to show whether federal funding encourages or crowds out additional private R&D spending from non-governmental sources. Increases in private R&D spending, driven by IT and pharmaceutical growth between 1987 and 2000, occurred without corresponding increases in federal funding, which suggests that the complementary relationship between public and private R&D spending discovered in the 1980s may no longer hold. However, ordinary least squares (OLS) analyses using data from the National Science Foundation (NSF) for the United States from 1957-2007 show that federal R&D funding for industry is associated with an increase in private R&D spending. The stimulatory effect increases when examining federal funding for basic research performed by industry from 1957-2005. In contrast, federal R&D funding for non-industrial performers is associated with a reduction in private R&D spending. The study concludes by recommending an integrated approach to innovation and economic growth that includes direct R&D funding for industry, R&D tax incentives, and a national focus on life-long learning.
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