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
Englisch

Erschienen in
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2021: Climate Economics

Klassifikation
Wirtschaft
Technological Change: Government Policy
National Government Expenditures and Related Policies: General
Crisis Management
Business Fluctuations; Cycles
Thema
R&D
Public Policy
Business Cycle

Ereignis
Geistige Schöpfung
(wer)
Pellens, Maikel
Peters, Bettina
Hud, Martin
Rammer, Christian
Licht, Georg
Ereignis
Veröffentlichung
(wer)
ZBW - Leibniz Information Centre for Economics
(wo)
Kiel, Hamburg
(wann)
2021

Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
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

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