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dc.contributor.authorBinz, Hanna L.en_US
dc.contributor.authorCzarnitzki, Dirken_US
dc.date.accessioned2009-02-16T14:58:41Z-
dc.date.available2009-02-16T14:58:41Z-
dc.date.issued2008en_US
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_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 08-005en_US
dc.subject.jelO32en_US
dc.subject.jelO31en_US
dc.subject.ddc330en_US
dc.subject.keywordR&Den_US
dc.subject.keywordFinancial Constraintsen_US
dc.subject.keywordPanel Dataen_US
dc.subject.stwForschungsfinanzierungen_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwIndustrielle Forschungen_US
dc.subject.stwDeutschlanden_US
dc.titleFinancial Constraints: Routine Versus Cutting Edge R&D Investmenten_US
dc.typeWorking Paperen_US
dc.identifier.ppn557555051en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:7016-
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

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