ABSTRACT

Research and development expenditure (R&D) generate innovation and contribute significantly to the economic development. Previous studies emphasized the role of public R&D to encourage the technological innovation in the private sector. However, the effect of global economic crisis with respect to the public and private R&D link has been somewhat neglected in the empirical literature. Based on system GMM estimation, we found that public R&D complements private R&D in pre and post economic crisis. However, the strength of their complementary association is found strong in pre-economic crisis. In sum, the results indicate that continuous support to public R&D in pre and post economic crisis accelerate the technological innovation in the private sector. This study implies that public support to R&D is a good strategy for an economy to confront economic crisis effectively by increasing the technological innovation in the private sector. For policy makers, it is suggested that care must be taken while investing in the R&D, the investment is to be based on the ratio between R&D expenditure to number of R&D workers.

摘要

研发支出（R＆D）产生了创新，并为经济发展做出了重要贡献。先前的研究强调了公共研发在鼓励私营部门技术创新方面的作用。但是，经验文献中忽略了全球经济危机对公共和私人R＆D链接的影响。基于系统GMM估计，我们发现在经济危机前后，公共研发补充了私人研发。但是，在经济危机之前，他们的互补协会的实力很强。总之，结果表明，在经济危机前后，对公共研发的持续支持加速了私营部门的技术创新。这项研究表明，公众对R＆R的支持 通过增加私营部门的技术创新，D是经济有效应对经济危机的好策略。对于政策制定者，建议在研发投资时必须谨慎，投资应基于研发支出与研发人员人数之比。