Implementing R&D policies: an analysis of Spain's pharmaceutical research program |
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| Authors: | Klaus Desmet Praveen Kujal Flix Lobo |
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| Institution: | aDepartment of Economics, Universidad Carlos III de Madrid, Getafe (Madrid)28903, Spain;bCEPR, UK |
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| Abstract: | We analyze Spain's National Pharmaceutical Research Program using detailed firm-level data. We find differences between ex ante announced evaluation criteria and ex post implementation. This suggests that judging R&D programs on their design, rather than their implementation, may be misleading. We also uncover that the apparent discrimination against non-European firms can be interpreted as a premium to having local production facilities. Overall, the program values firms on the basis of criteria, such as R&D investment and patent spending, consistent with empirically tested measures of innovative activity. |
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| Keywords: | Innovation policy Pharmaceutical industry R& D programs |
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