Title: Research and development in small and medium-sized German enterprises: The role of financial constraints and public funding
Authors: Czarnitzki, Dirk # ×
Issue Date: 2006
Series Title: Scottish journal of political economy vol:53 issue:3 pages:335-357
Abstract: This paper presents microeconometric evidence on financing constraints for research and development activities in German small- and medium-sized firms (SME). Special attention is paid to the role of public research and development (R&D) subsidies. For this purpose SMEs in West and East Germany are compared because these regions are very different in their supply of public R&D funding. The empirical evidence suggests that West German SMEs are financially constrained in their R&D activities by both internal and external resources. In East Germany, firms are not sensitive to external constraints, possibly due to high public R&D subsidies. The results show that R&D in East Germany is to a large extent driven by public subsidies and that the usual financial market mechanisms are dysfunctional with respect to R&D in this region.
ISSN: 0036-9292
Publication status: published
KU Leuven publication type: IT
Appears in Collections:Department of Managerial Economics, Strategy and Innovation (MSI), Leuven
× corresponding author
# (joint) last author

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