Abstract
ABSTRACT This paper assesses the longer term (up to 14 years) causal impact of federal research and development (R&D) subsidies on firms’ commercialization behavior. The data are for small firms which applied to the 1998-2000 Advanced Technology Program (ATP) competitions. A variant of the research design pioneered by Heckman (1979) allows for selection bias to be controlled for. Commercialization behavior is operationalized as the number of new product announcements related to the technology a firm mentions in its ATP proposal(s). The major finding is that receiving an ATP award has a positive and significant causal impact on a firm's commercialization behavior.
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