The ineffectiveness of R&D subsidies—An oligopoly theoretic insight |
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Authors: | Karlo Kauko |
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Affiliation: | 1. CIBR, T??l?nkatu 11, 00100, Helsinki, Finland
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Abstract: | In several European countries, governments subsidise private firms in their product development. Existing empirical literature indicates that these subsidies do not have much impact on firms' R&D efforts. It is suggested that this inefficiency may reflect strategic, oligopolistic behaviour: not to apply for subsidies is a strategic commitment to non-aggressive behaviour. Firms may be willing to apply for subsidies mainly when they know they are not going to affect their R&D efforts significantly. |
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