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Impact of R&D Subsidies on Enterprise Performance in the Czech Republic

Author

Listed:
  • Jan Čadil

    (Department of Economics, Faculty of Economics, University of Economics in Prague, Czech Republic)

  • Karel Mirošník

    (Regional Studies, Faculty of Economics, University of Economics in Prague, Czech Republic)

  • Ludmila Petkovová

    (Department of Economic Statistics, Faculty of Informatics and Statistics, University of Economics in Prague, Czech Republic)

Abstract

The attention and support that R&D receives from economists and politicians reflects its importance as a key element of competitiveness and growth in advanced economies. But the real effect of policy upon public support depends on the technological level and structure of the economy and on the ability of beneficiaries to use the support effectively. We should also ask whether the current measurement of R&D outcomes and their subsequent assessment actually reflects real-world situations. The paper presents results of a research focused on the effectiveness of R&D subsidies on the performance of private enterprises in the Czech Republic. We deliberately focus on financial data and compare beneficiaries with unsuccessful applicants using techniques of counterfactual analysis. Although supported actors exhibit higher values of certain variables like assets, personnel expenditures or value added, these cannot be claimed to be the result of R&D support. These findings suggest the very limited effectiveness of R&D support to private actors in the Czech Republic, at least in the short run.

Suggested Citation

  • Jan Čadil & Karel Mirošník & Ludmila Petkovová, 2016. "Impact of R&D Subsidies on Enterprise Performance in the Czech Republic," Society and Economy, Akadémiai Kiadó, Hungary, vol. 38(3), pages 387-398, September.
    • Handle: RePEc:aka:soceco:v:38:y:2016:i:3:p:387-398
    Note: This paper has been prepared under the support of the University of Economics, Prague, in the framework of the project “Analysis of the impact of subsidies on the performance of economic subjects” (No. 55/2014).
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    More about this item

    Keywords

    R&D; R&D subsidies; competitiveness; counterfactual analysis;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • E69 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Other
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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