This study does not find any significant direct relationship between the public R&D funding and the firms' innovation output. The firms obtaining the public R&D support were not performing significantly better, on average, than others. However, we find evidence that the public R&D finance has...

This study empirically explores whether the public financial support for entrepreneurial R&D affects employment growth at the firm level. The data from the Finnish companies suggests that the firms that have received public R&D funding have not generally witnessed any greater employment growth...

The speed with which Covid-19 vaccines were developed and their high-performance underlines how much society depends on the pace of scientific research and how effective science can be. This is especially the case for vaccines based on the new designer mRNA technology. We draw on this...

Scientific research has properties of a public good; there are few monetary incentives for individuals to undertake basic research and the conventional wisdom is that the market, if left to its own devices, would under- invest in research in terms of social benefits relative to social costs. Thus...

Research and development (R&D) tax credits are widely employed among the OECD countries to promote business sector investments in innovation. The implementation of R&D tax credit schemes, however, varies across countries. The empirical research on the effectiveness of R&D tax incentives suggests...

Concern exists that public funding of science is increasingly risk averse. Funders have addressed this concern by soliciting the submission of high-risk research to either regular or specially designed programs. Little evidence, however, has been gathered to examine the extent to which such...