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Zhang, J., Chen, Z., & Yang, L. (2015). On Evaluating China’s Innovation Subsidy Policy: Theory and Evidence. Economic Research Journal, 10, 4-17.

has been cited by the following article:

• TITLE: Does the Crowd-Out Effect of R&D Subsidies Exist in the Pharmaceutical Industry? Evidence from Chinese Companies

  AUTHORS: Kejin Ni

  KEYWORDS: R&D Subsidies, Crowd-Out Effect, Pharmaceutical Industry, Threshold Regression

  JOURNAL NAME: Modern Economy, Vol.11 No.3, March 13, 2020

  ABSTRACT: Dissenting from existing multi-industries work, this paper particularly takes the pharmaceutical entities in the Chinese industrial enterprise database as a sample and uses the threshold regression to examine the impact of government R&D subsidies on private R&D investment, patent quantity and new product sales. We find that government R&D subsidies can effectively crowd in private investment. However, due to the crowd-out threshold is too high, the crowd-out effect does not actually exist in the pharmaceutical industry. A similar story happens to new product sales; but for the number of patents, there is only promoting effect.