TY  - JOUR
AU  - David,Paul A.
AU  - Hall,Bronwyn H.
AU  - Toole,Andrew A.
TI  - Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 7373
PY  - 1999
Y2  - October 1999
UR  - http://www.nber.org/papers/w7373
L1  - http://www.nber.org/papers/w7373.pdf
N1  - Author contact info:
Paul David
Prof. Paul A. David
Oxford Internet Institute
1 St. Giles'
Oxford OX1 3SJ
United Kingdom
Tel: 44(0)1865249021
Fax: 44(0)1865287209
E-Mail: pad@stanford.edu

Bronwyn H. Hall
Dept. of Economics
549 Evans Hall
UC Berkeley
Berkeley, CA 94720-3880
Tel: 510/642-3878
Fax: 510/548-5561
E-Mail: bhhall@nber.org

Andrew Toole
USDA/ERS/RRED/RESP
1800 M Street NW
Room S4170
Washington, DC 20036-5831
Tel: 202-694-5208
Fax: 202-694-5776
E-Mail: atoole@ers.usda.gov
AB  - 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 future empirical research on this issue.
ER  -