Do tax incentives increase firm innovation? an RD design for R&D, patents, and spillovers / Antoine Dechezleprêtre, Elias Einiö, Ralf Martin, Kieu-Trang Nguyen and John Van Reenen
Resumen.
Bibliografía.
We present causal evidence of R&D tax incentives' positive impacts on a firm's own innovation and that of its technological neighbors. Exploiting a change in size-based eligibility thresholds for R&D tax relief, we implement a Regression Discontinuity Design using administrative data. We find significant effects of tax relief on (quality-adjusted) patenting (and R&D) that persist up to seven years, and evidence of R&D spillovers on the innovation of technologically close firms. We can rule out elasticities of patenting with respect to R&D user cost of under 2 at the 5 percent level and show that our large effects are driven by financially constrained treated firms.
INVERSIONES EMPRESARIALES
INVESTIGACION
DESARROLLO TECNOLOGICO
INCENTIVOS FISCALES
INCIDENCIA Y TRASLACION
INNOVACIÓN
EMPRESAS
Dechezleprêtre, Antoine
American Economic Journal : Economic Policy 1945-7731 v. 15, n. 4, November 2023, p. 486-521