DIFFERENTIAL EFFECTS OF TAX INCENTIVES AND FINANCING ON BUSINESS R&D EXPENDITURE IN THE SECOND HALF OF THE 2000S

• Autor(a) principal: Brigante, Paulo César
• Data de Publicação: 2020
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Análise Econômica (Online)
• Texto Completo: https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/76279
• topic: Incentivos fiscais à P&D; Financiamento à P&D; Políticas de inovação; L52; R&D fiscal tax; R&D credit; Innovation policies; L52

The debate on the role of public support for research and development (R&D)is still a relatively unexplored subject and unfinished, especially in the recent period. Thisarticle aims to evaluate the effectiveness of tax incentives and financing on private business spending in these activities. Considering the historically insufficient levels of the latter, Brazil maintains a significant distance in the indicators of innovation in relation to theadvanced countries. In the context of the resumption of industrial policy and innovation initiatives in the 2000s, there was a greater contribution of public resources, throughcredit and fiscal incentives, which were expected to increase private R&D expenditures. The main reason for government intervention in the programs of these policies obeyedthe logic of mitigating the high costs and risks of R&D. With the micro-data base of the Research of Innovation (Pintec), of the Brazilian Institute of Geography and Statistics (IBGE), estimates were made on the effects of each type of instrument applying the Differences in Differences (DID) method with covariates for the bases of 2005, 2008 and 2011. Two panels of consecutive periods were built: 2005-2008 and 2008-2011. Thus, the estimates measured the differences in R&D spending variations between beneficiary and non-beneficiary companies. In addition, the analysis focused on companies located in sectors of different degrees of technological intensity. With the choice of method, we tried to overcome the problem of selection bias, noting that the additionality effects were limited tofiscal incentives, not generalizing to all sectors.