Small Business Economics

, Volume 43, Issue 4, pp 959–976 | Cite as

Assessment of the public tools used to promote R&D investment in Spanish SMEs

  • Desiderio Romero-Jordán
  • María Jesús Delgado-Rodríguez
  • Inmaculada Álvarez-AyusoEmail author
  • Sonia de Lucas-Santos


In this paper, we identify the potential determinants of firm R&D to understand the effectiveness of public policies. Our results suggest a considerably low impact of tax credits and public grants on the R&D investment of the Spanish manufacturing firms. Tax credits are mainly considered by large firms that use them as a reduction in the tax burden in the corporate tax, while SMEs use public grants to alleviate financial constraints. This evidence leads to discuss alternatives to the current design of the public policies analyzed.


R&D Tax credits Public grants Effectiveness Panel data 

JEL Classifications

C26 H32 O38 L26 L60 


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Copyright information

© Springer Science+Business Media New York 2014

Authors and Affiliations

  • Desiderio Romero-Jordán
    • 1
  • María Jesús Delgado-Rodríguez
    • 1
  • Inmaculada Álvarez-Ayuso
    • 2
    Email author
  • Sonia de Lucas-Santos
    • 2
  1. 1.Universidad Rey Juan CarlosMadridSpain
  2. 2.Universidad Autónoma de MadridMadridSpain

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