BUSINESS-FUNDED R&D INTENSITY ACROSS OECD COUNTRIES: IMPACT AND COMPLEMENTARITY OF FINANCIAL SUPPORT FOR R&D

R&D financial support policies have proliferated since the 80's in the oecd countries. Few studies measure the macroeconomic impact of these policies on private investment in R&D. The objective of this paper is to analyze the individual effect and the internal and external complementarity of direct and indirect financial support for private R&D. Using a database covering 25 countries of oecd over the period 1990-2007, our dynamic panel data results show that only indirect support affects significantly the business-funded R&D intensity. If a substitution effect appears between direct and indirect support within a country, a certain complementarity appears between these measures and those implemented by other countries.