Speaker: Dr. Zhou Peng (Cardiff University, UK)
Commentators: Professor Liu Xiaoxing, Associate Professor Yin Wei
Time: 4:00 pm, Beijing Time
Date: August 17th (Wednesday), 2022
Tencent Meeting ID: 816-138-214
Abstract:
State capitalism attempts to encourage innovative strategies by supporting private sector R&D with subsidies. It does so in part because R&D is expected to create substantial knowledge spillovers to other firms in the economy. We show that for a firm-level sample of European countries between 2006 and 2014, subsidies boosted R&D and R&D increased labour productivity. However, the knowledge spillover from subsidised firms to the labour productivity of others has been small. Hence this justification for state support does not seem to be warranted.
To accurately estimate the effects of R&D, we distinguish four types: (i) the effect of intramural R&D, which is intentional and internally undertaken by the firm, (ii) the effect of cooperative R&D, which is intentional and undertaken partially outside the firm, (iii) the effect of extramural R&D, which is intentional and performed entirely externally and (iv) the subsidized spillover effect of R&D on labor productivity, which is unplanned and experienced completely externally.
About speaker:
Dr. Zhou Peng, an associate professor at Cardiff University Business School, has published nearly 30 high-level papers in research fields such as Macroeconomics, Economic History and Finance. Dr. Zhou Peng graduated from the Department of Philosophy of Peking University, minored in Economics and obtained a Bachelor's degree in Economics from CCER. After that, he went to study in the UK and obtained a Master's degree in Economics and Finance from the University of York with honors. He pursued his PhD in Economics with the support of a full scholarship from Cardiff University, and obtained his PhD in Economics in 2012. Dr. Zhou Peng's current research topics include economic growth, development of emerging economies, and applied microeconomics. He has 7 SSCI and 2 ESCI publications in the past five years, and participated in many British government research projects.
翻译：王宣予
