Are public and private R&D investments complements or substitutes? / Anna Bohnstedt
VerfasserBohnstedt, Anna In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBochum [u.a.] : RWI, 2014
Umfang18 S. : graph. Darst.
SerieRuhr economic papers ; 485
SchlagwörterForschung und Entwicklung In Wikipedia suchen nach Forschung und Entwicklung / Öffentliche Investition In Wikipedia suchen nach Öffentliche Investition / Private Investition In Wikipedia suchen nach Private Investition / Komplementär In Wikipedia suchen nach Komplementär / Ersatz In Wikipedia suchen nach Ersatz / Wohlfahrt In Wikipedia suchen nach Wohlfahrt / Online-Publikation In Wikipedia suchen nach Online-Publikation
URNurn:nbn:de:hbz:6:2-40302 Persistent Identifier (URN)
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Are public and private R&D investments complements or substitutes? [0.2 mb]

We develop a general equilibrium model with heterogeneous firms à la Melitz (2003), where both the government and firms can invest into R&D to improve the countrys technological potential. A higher technological potential raises the average productivity of firms, thus implying lower consumer prices, and eventually leads to a welfare gain. The governments public and firms private investments are modelled in a three-stage game, in which the government in the first stage invests into a basic research level, and then firms conduct private R&D building on this publicly provided "technology" in the second stage. We find that private R&D investments are hump-shaped with respect to the basic research level. For lower levels public and private investments are complements, while for higher levels they are substitutes.