Government policy failure in public support for research and development
Haapanen, M., Lenihan, H., & Mariani, M. (2014). Government policy failure in public support for research and development. Policy studies, 35(6), 557-575. https://doi.org/10.1080/01442872.2014.971728
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Policy studiesDate
2014Copyright
© 2014 Taylor & Francis. This is an author's final draft version of an article whose final and definitive form has been published by Routledge/Taylor & Francis. Published in this repository with the kind permission of the publisher.
Promoting Research and Development (R&D) and innovative activity is a key
element of the EU Lisbon Agenda and is seen as playing a central part in stimulating
economic development. In this paper we argue that, even allowing for benevolent
policymakers, informational asymmetries can lead to a misallocation of public
support for R&D, hence government policy failure, with the potential to exacerbate
pre-existing market failures. Initially, we explore alternative allocation mechanisms
for public support, which can help to minimize the scale of these government policy
failures. Of these mechanisms (grants, tax credits, or allocation rules based on past
performance), our results suggest that none is universally most efficient. Rather, the
effectiveness of each allocation rule depends on the severity of financial constraints
and on the level of innovative capabilities of the firms themselves.
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Routledge; Policy Studies InstituteISSN Search the Publication Forum
0144-2872Keywords
Publication in research information system
https://converis.jyu.fi/converis/portal/detail/Publication/24380132
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