NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Paul David

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Working Papers

February 2000Heart of Darkness: Modeling Public-Private Funding Interactions Inside the R&D Black Box
with Bronwyn H. Hall: w7538

Published: Research Policy, Vol. 29 (June 2000).

This paper is a first step toward closing the analytical gap in the extensive literature on the results of interactions between public and private R&D expenditures, and their joint effects on the economy. Econometric studies in this area report a plethora of sometimes confusing and frequently contradictory estimates of the response of company financed R&D to changes in the level and nature of public R&D expenditure, but the necessary theoretical framework within which the empirical results can be interpreted is seldom provided. A major cause of inconsistencies' in the empirical literature is the failure to recognize key differences among the various policy experiments' being considered depending upon the economy in which they are embedded, and the type of public sector R&D spending that ...
October 1999Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence
with Bronwyn H. Hall, Andrew A. Toole: w7373

Published: Research Policy, Vol. 29 (May 2000).

Is public R&D spending complementary and thus "additional" to private R&D spending, or does it substitute for and tend to "crowd out" private R&D? Conflicting answers are given to this question. We survey the body of available economectric evidence accumulated over the past 35 years. A framework for analysis of the problem i is developed to help organize and summarize the findings of econometric studies based on time series and cross-section data from various levels of aggregation (laboratory, firm, industry, country). The findings overall are ambivalent and the existing literature as as a whole is subject to the criticim that the nature of the "experiment(s)" that the investigators envisage is not adequately specified. We conclude by offering suggestions for improving fut...

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