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Title:Research and development: financial constraints and the role of public funding for small and medium-sized enterprises PDF Logo
Authors:Czarnitzki, Dirk
Issue Date:2002
Series/Report no.:ZEW Discussion Papers 02-74
Abstract:This paper presents microeconometric evidence on financing con-traints for research and development activities in German small and medium?sized firms (SME). Special attention is paid to the role of public R&D subsidies. For this purpose SME in Western and East-ern Germany are compared because these regions are very different in their supply of public R&D funding. It turns out that Western German SME are financially constrained in their R&D activities by both internal and external resources. In Eastern Germany, firms are not sensitive to external constraints, possibly due to high public R&D subsidies. The results suggest that R&D in Eastern Germany is to a large extent driven by public subsidies since the German re?unification in 1990 and that the usual financial market mechanisms are repealed with respect to R&D in this region.
Subjects:Research and development
financial constraints
public funding
SME
censored regression models
JEL:O38
O31
C24
Document Type:Working Paper
Appears in Collections:ZEW Discussion Papers
Publikationen von Forscherinnen und Forschern des ZEW

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