Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/24675 
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dc.contributor.authorBinz, Hanna L.en
dc.contributor.authorCzarnitzki, Dirken
dc.date.accessioned2009-02-16T14:58:41Z-
dc.date.available2009-02-16T14:58:41Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/24675-
dc.description.abstractWe analyze financial constraints for R&D, where we account for heterogeneity among investments which has been neglected in previous literature. According to economic theory, investments should be distinguished by their degree of uncertainty, e.g. routine R&D versus cutting-edge R&D. Financial constraints should be more binding for cutting-edge R&D than for routine R&D. Using panel data we find that R&D spending of firms devoting a significant fraction of R&D to cutting-edge projects is curtailed by credit constraints while routine R&D investments are not. This has important policy implications with respect to the distribution of R&D subsidies in the economy.en
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x08-005en
dc.subject.jelO32en
dc.subject.jelO31en
dc.subject.ddc330en
dc.subject.keywordR&Den
dc.subject.keywordFinancial Constraintsen
dc.subject.keywordPanel Dataen
dc.subject.stwForschungsfinanzierungen
dc.subject.stwVerschuldungsrestriktionen
dc.subject.stwIndustrielle Forschungen
dc.subject.stwDeutschlanden
dc.titleFinancial Constraints: Routine Versus Cutting Edge R&D Investment-
dc.typeWorking Paperen
dc.identifier.ppn557555051en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:7016en

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