Factores condicionantes de la presión fiscal de las entidades de crédito españolas, ¿existen dife-rencias entre bancos y cajas de ahorros?
- González-Maestre, Miguel
- Granero, Luis
ISSN: 1988-8767
Año de publicación: 2010
Número: 548
Tipo: Documento de Trabajo
Otras publicaciones en: Notas técnicas: [continuación de Documentos de Trabajo FUNCAS]
Resumen
This paper deals with the role of basic R&D investment in vertical markets where an incumbent owner of a basic technological input faces potential competition. We show that the socially optimal investment in basic research is the maximum level of this variable such that this basic R&D effort, in fact, is never applied. Our main insight is that there is a role for public investment in R&D that seems to have been overlooked in the literature. This role is based on the idea that basic R&D can make the potential development of alternative technologies credible by reducing their implementation costs.