Public Finance of R&D and the Obstacles to Innovation: The Case of Spain

Panagiotakopoulos, Konstantinos and Fernández-Crehuet, José María and Molero Zayas, José (2018). Public Finance of R&D and the Obstacles to Innovation: The Case of Spain. "International Journal of Social Science Studies", v. 6 (n. 12); pp. 1-21. ISSN 2324-8033. https://doi.org/10.11114/ijsss.v6i12.3459.

Description

Title: Public Finance of R&D and the Obstacles to Innovation: The Case of Spain
Author/s:
  • Panagiotakopoulos, Konstantinos
  • Fernández-Crehuet, José María
  • Molero Zayas, José
Item Type: Article
Título de Revista/Publicación: International Journal of Social Science Studies
Date: December 2018
ISSN: 2324-8033
Volume: 6
Subjects:
Freetext Keywords: public finance; obstacles; Spanish firms; subsidies; innovation; cost factors; knowledge factors; market factors
Faculty: E.T.S.I. Industriales (UPM)
Department: Ingeniería de Organización, Administración de Empresas y Estadística
Creative Commons Licenses: Recognition - No derivative works - Non commercial

Full text

[img]
Preview
PDF - Requires a PDF viewer, such as GSview, Xpdf or Adobe Acrobat Reader
Download (1MB) | Preview

Abstract

This paper examines the importance of public financing in R&D for Spanish companies and the correlation that exists between this kind of finance and the obstacles they encounter when innovating. For this, we have used a series of data obtained from the Technological Innovation Panel (PITEC) database for the year 2014. The number of observations used in this study is 7.071 and the models that are being developed are the Logit and Tobit models. From the analysis of these models, we conclude that the main obstacles that are relevant for the firms are related to the cost and knowledge factors, such as the lack of funding from outside sources or the excessive cost of innovation. However, market factors are not considered important for the companies, which always find a reason to innovate. Last but not least, we suggest which firms have the best chance of receiving public finance and make some reflections about the Spanish economy.

More information

Item ID: 53750
DC Identifier: http://oa.upm.es/53750/
OAI Identifier: oai:oa.upm.es:53750
DOI: 10.11114/ijsss.v6i12.3459
Official URL: http://redfame.com/journal/index.php/ijsss/article/view/3459
Deposited by: Memoria Investigacion
Deposited on: 29 Jan 2019 16:23
Last Modified: 29 Jan 2019 16:23
  • Logo InvestigaM (UPM)
  • Logo GEOUP4
  • Logo Open Access
  • Open Access
  • Logo Sherpa/Romeo
    Check whether the anglo-saxon journal in which you have published an article allows you to also publish it under open access.
  • Logo Dulcinea
    Check whether the spanish journal in which you have published an article allows you to also publish it under open access.
  • Logo de Recolecta
  • Logo del Observatorio I+D+i UPM
  • Logo de OpenCourseWare UPM