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A comparative analysis of business R&D policy in Spain and Portugal

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  • Adão Carvalho
  • Beatriz Corchuelo

Abstract

This paper compares the R & D policy strategy of Spain and Portugal to promote business R & D, with particular attention to R & D objectives, incentives and outcomes. Despite having two of the most generous fiscal systems for R & D, their S & T indicators remain comparatively low compared with the EU average. Perhaps not expected, the BERD/GDP ratio in Portugal has grown at higher rates than that of Spain, leading to a faster approach of Portugal to Spain and the EU average, especially after 2005. On the contrary, the R & D growth rate in Spain has slowed down and began to decrease after 2008, coinciding with the implementation of a tax reform. There are lessons to be learned from each country’s R & D policy.

Suggested Citation

  • Adão Carvalho & Beatriz Corchuelo, 2013. "A comparative analysis of business R&D policy in Spain and Portugal," Economics and Business Letters, Oviedo University Press, vol. 2(3), pages 116-127.
    • Handle: RePEc:ove:journl:aid:10048
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    File URL: https://reunido.uniovi.es/index.php/EBL/article/view/10048
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    References listed on IDEAS

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    1. Adão António Nunes Carvalho, 2011. "Why are tax incentives increasingly used to promote private R&D?," CEFAGE-UE Working Papers 2011_04, University of Evora, CEFAGE-UE (Portugal).
    2. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626, National Bureau of Economic Research, Inc.
    3. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67(3), pages 297-297.
    4. Corchuelo, Beatriz, 2008. "Aplicación de los incentivos fiscales a la inversión en I+D en las empresas españolas," DEE - Documentos de Trabajo. Economía de la Empresa. DB db080101, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
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