@techreport{NBERw5059,
 title = "Public R&D Policies and Cost Behavior of the US Manufacturing Industries",
 author = "Theofanis P. Mamuneas and M. Ishaq Nadiri",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "5059",
 year = "1997",
 month = "June",
 URL = "http://www.nber.org/papers/w5059",
 abstract = {This paper estimates and evaluates the contributions of R&D tax incentives and publicly financed R&D investment policies in promoting growth of output and privately funded R&D investment in US manufacturing industries.  Publicly financed R&D induces cost savings but crowds out privately-financed R&D investment while the incremental R&D tax credit and the immediate deductibility provision of R&D expenditures have a significant impact on privately financed R&D investment.  The optimal mix of both instruments is an important element for sustaining a balanced growth in output and productivity in the manufacturing sector.},
}