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Radical or incremental: Where does R&D policy hit?


Beck, Mathias; Lopes-Bento, Cindy; Schenker-Wicki, Andrea (2014). Radical or incremental: Where does R&D policy hit? MSI 1417, KU Leuven.

Abstract

This study investigates the efficacy of public R&D support. Compared to most existing studies, we do not stop at substitution effects or general innovation outcome measures, but we are interested in knowing where the policy effect is highest: on innovation close to the market (i.e. incremental innovation) or on innovation that is still far from the market and hence more risky and radical. Using firm level data from the period 1999 to 2011, we find that the policy hits where the market failure is highest, that is, for radical innovation. Taking into account that the Swiss funding agency encourages collaboration, we find no evidence that the impact
of the policy is positively effected by various R&D collaboration patterns.

Abstract

This study investigates the efficacy of public R&D support. Compared to most existing studies, we do not stop at substitution effects or general innovation outcome measures, but we are interested in knowing where the policy effect is highest: on innovation close to the market (i.e. incremental innovation) or on innovation that is still far from the market and hence more risky and radical. Using firm level data from the period 1999 to 2011, we find that the policy hits where the market failure is highest, that is, for radical innovation. Taking into account that the Swiss funding agency encourages collaboration, we find no evidence that the impact
of the policy is positively effected by various R&D collaboration patterns.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Language:English
Date:2014
Deposited On:27 Oct 2014 14:25
Last Modified:15 Aug 2017 18:09
Series Name:MSI
Number of Pages:37
Free access at:Official URL. An embargo period may apply.
Official URL:http://ssrn.com/abstract=2507850
Other Identification Number:merlin-id:10440

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