Asia-Pacific Journal of Business (아태비즈니스연구)

KNU The Institute of Management & Economy Research (강원대학교 경영경제연구소)
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The Effects of Government R&D Support on Private R&D Investment: Evidence from Innovative Growth Engine Policies

정부 R&D 지원이 민간 R&D 투자에 미치는 영향: 혁신성장동력 정책을 중심으로

  • Koo, Bon-Jin (Center for Fugure Growth Policy, Korea Institute of S&T Evaluation and Planning) ;
  • Lee, Jong-Seon (Department of International Trade & Business, Myongji University)
  • 구본진 (한국과학기술기획평가원 미래성장정책센터) ;
  • 이종선 (명지대학교 경영대학 국제통상학과)
  • Received : 2021.08.31
  • Accepted : 2021.09.21
  • Published : 2021.09.30
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Abstract

Purpose - The purpose of this study was verifying the policy effects by field of innovative growth engines, focusing on the discussion of the relationship between government support and corporate R&D activities (substitute/complementary goods), and based on the results, policy recommendations for promoting private R&D were carried out. Design/methodology/approach - Through literature research, academic/theoretical discussions about relationship between government support and corporate R&D activities were synthesized. Next, survey data were collected for companies engaged in the field of innovative growth engines and empirical analysis was conducted on the relationship between government support and R&D activities in 13 major sectors. Findings - First, as a result of analyzing all companies regardless of sector, government R&D subsidies had a positive (+) relationship with R&D activities of companies engaged in innovative growth engines, that is, a complementary relationship. Next, as a result of performing empirical analysis by dividing the 13 fields, it was found that 9 fields were complementary goods in which government support had a positive (+) effect on the R&D activities of companies. On the other hand, in the remaining four fields, the effect of government support on corporate R&D activities was not statistically significant. Research implications or Originality - In order to promote R&D activities of companies in the 9 fields where government support acts as a complementary product, it is necessary to establish policies centered on direct government support. On the other hand, it would be more desirable to seek indirect support rather than direct support in the 4 fields where government support did not have a statistically significant effect on corporate R&D activities.

Keywords

Acknowledgement

이 논문은 한국과학기술기획평가원 연구비 지원에 의한 논문임 (AT21050, 성장동력의 공공-민간 파트너십 강화를 위한 정책 추진체계 연구)

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