Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/228073
Authors: 
Pleticha, Petr
Year of Publication: 
2019
Series/Report no.: 
IES Working Paper No. 32/2019
Abstract: 
Business R&D spending has been showed to exert a positive direct as well as indirect, spillover effects on value added. Nevertheless, heterogeneity of the returns to R&D has been seldom examined. Using detailed sectoral data from Czechia over the period 1995-2015, this study finds that privately funded business R&D has both direct and spillover effects, but that the publicly funded part of business R&D only leads to spillovers. The results further suggest that both upstream and downstream spillovers matter, regardless of the source of funding, and that the R&D returns were heavily affected by the economic crisis. Lastly, private R&D offers significant returns only after reaching a critical mass, while the effects of public R&D spending do not profess such non-linearity. The heterogeneity of returns to business R&D needs to be reflected in the design of innovation policy.
Subjects: 
R&D returns
spillovers
Czechia
JEL: 
O32
O33
O47
L14
Document Type: 
Working Paper

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