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Public Funding of R&D and Growth: Firm-level Evidence from Finland
This study considers employment and productivity growth generated by the public funding of R&D using linked employer-employee data in Finland. Public subsidies, instrumented by available public R&D funding in the industry/region, have a positive effect on productivity growth in small and medium-sized firms and in firms close to the top of their field in productivity.
Link
http://econpapers.repec.org/scripts/redir.pl?u=http%3A%2F%2Fwww.etla.fi%2Ffiles%2F1432_Dp996.pdf;h=repec:rif:dpaper:996