César Rodríguez-Gutiérrez, Juan Francisco Canal-Domínguez
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This article is aimed at estimating the impact of R&D subsidies on the demand for researchers, using information provided by a panel of Spanish firms belonging to the industrial and services sectors followed up during the 2004–2016 period. Estimates include corrections for the endogeneity bias generated by wages and by a set of variables measuring R&D public financing, as well as for the sample selection bias coming from the fact that the only wage data available are those from firms that are internal R&D performers and hire researchers. Estimate results show that public R&D financing has a positive and relevant impact on the demand for researchers. This result allows supporting the implementation of policies to promote public research funding in Spain, regardless of the origin of the funds received.
期刊介绍：
In the context of rapid globalization and technological capacity, the world’s economies today are driven increasingly by knowledge—the expertise, skills, experience, education, understanding, awareness, perception, and other qualities required to communicate, interpret, and analyze information. New wealth is created by the application of knowledge to improve productivity—and to create new products, services, systems, and process (i.e., to innovate). The Journal of the Knowledge Economy focuses on the dynamics of the knowledge-based economy, with an emphasis on the role of knowledge creation, diffusion, and application across three economic levels: (1) the systemic ''meta'' or ''macro''-level, (2) the organizational ''meso''-level, and (3) the individual ''micro''-level. The journal incorporates insights from the fields of economics, management, law, sociology, anthropology, psychology, and political science to shed new light on the evolving role of knowledge, with a particular emphasis on how innovation can be leveraged to provide solutions to complex problems and issues, including global crises in environmental sustainability, education, and economic development. Articles emphasize empirical studies, underscoring a comparative approach, and, to a lesser extent, case studies and theoretical articles. The journal balances practice/application and theory/concepts.
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