R&D and subsidies at the firm level: an application of parametric and semiparametric two‐step selection models
企业层面的研发与补贴：参数和半参数两步选择模型的应用
Abstract This paper analyzes the effect of public R&D subsidies on firms' private R&D investment per employee and new product sales in German manufacturing. Parametric and semiparametric two‐step selection models are applied to this evaluation problem. The results show that the average treatment effect on the treated firms' R&D intensity is positive. The estimated effects are robust with respect to the different selection models. Further results show that publicly induced…