Do Public Subsidies Complement Business R&D? A Meta-Analysis of the Econometric Evidence

Analysis of the effects of public financing on private investment in R&D has been the object of numerous applied studies without it having been possible to arrive at a definite conclusion. In this paper, the results of a meta-regression of econometric evidence on the relationship between public funding of R&D and private R&D expenditures is presented. After the creation of a data-base including all relevant studies and their results and characteristics, a meta-analysis was carried out to examine whether the characteristics of the applied analysis influence the results and explain the differences in the empirical literature on this subject