서강대학교

초록/요약

The Effects of Government-Industry R&D programs on Employment : The Long-Run Impact of the Korea Cooperative Consortium R&D Program Hong, Seungwook Sogang University Government programs to finance small firms have attracted little empirical attention. Moreover, a considerable previous research did not consider endogeniety problem of R&D expenditure and sample selection bias. This paper examines the largest Korea initiative, the Cooperative Consortium R&D Program to the technology-intensive small firms, especially focuses on employment. Using a database of firms involved in the program, the results show that program awardees have significantly high employment growth. To trace the process of the program, I set up the sequential equations and generate a new exogenous variable to explain the relationship between a participating firm and agency. And I adjust the estimates by considering a sample selection problem using tobit model. After analysis, sample selection bias is significant and the R&D expenditure elasticity on employment is approximately 0.031 for total employment and 0.046 for technology-relevant employment, that is, employment increase 1.2 person by additional project on average.