Konferenzbeitrag
Public R&D Investment in Economic Crises
We study the cyclicality of public R&D in 28 OECD countries (1995 - 2017). While procyclical on average, public R&D reacts asymmetrically over different phases of the business cycle and becomes acyclical during recessions. It is also heterogeneous across countries: Innovation leaders and followers behave countercyclically during recessions while moderate innovators behave procyclically. Furthermore, the share of public R&D allocated to the business sector is countercyclical, but the thematic composition remains stable. These results, not driven by countries' financial constraints, imply that countries behind the innovation frontier might strengthen their resilience to economic crises by adopting countercyclical R&D strategies.
- Sprache
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Englisch
- Erschienen in
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Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2021: Climate Economics
- Klassifikation
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Wirtschaft
Technological Change: Government Policy
National Government Expenditures and Related Policies: General
Crisis Management
Business Fluctuations; Cycles
- Thema
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R&D
Public Policy
Business Cycle
- Ereignis
-
Geistige Schöpfung
- (wer)
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Pellens, Maikel
Peters, Bettina
Hud, Martin
Rammer, Christian
Licht, Georg
- Ereignis
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Veröffentlichung
- (wer)
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ZBW - Leibniz Information Centre for Economics
- (wo)
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Kiel, Hamburg
- (wann)
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2021
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Konferenzbeitrag
Beteiligte
- Pellens, Maikel
- Peters, Bettina
- Hud, Martin
- Rammer, Christian
- Licht, Georg
- ZBW - Leibniz Information Centre for Economics
Entstanden
- 2021