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Public Investment Policy in Life-Science Research

Author

Listed:
  • Wang, Chenggang
  • Xia, Yin
  • Shoemaker, Robbin A.
  • Buccola, Steven T.

Abstract

The article presents a dynamic model of research investment. This model allows us to examine three important channels through which public investment policy can affect the private sector's research investment, that is, the productivity, replacement, and wage effects. Two alternative empirical approaches are introduced to implement the model. Through a unified examination of the productivity, replacement, and wage effects, the empirical estimation of this model will provide insight into whether public-sector research investment crowds in or crowds out private-sector research investment.

Suggested Citation

  • Wang, Chenggang & Xia, Yin & Shoemaker, Robbin A. & Buccola, Steven T., 2006. "Public Investment Policy in Life-Science Research," 2006 Annual meeting, July 23-26, Long Beach, CA 21330, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea06:21330
    DOI: 10.22004/ag.econ.21330
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    References listed on IDEAS

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