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espanolSe analiza el efecto de la politica de subsidios a la innovacion de dos instituciones argentinas,FONTAR y SEPYME, en una muestra de pequenas y medianas empresas industriales, durante el periodo 2010-2012. Se considera el efecto de la superposicion de tratamientos de FONTAR y SEPYME utilizando la metodologia de propensity scorematching. Se encuentra evidencia de adicionalidad al evaluar los impactos individuales de los programas. Sin embargo, no se encuentra evidencia de adicionalidad ni tampoco de crowding out cuando es considerado el efecto superpuesto. Por ultimo, las acciones de FONTAR parecen ser mas eficaces que las de SEPYME. EnglishThe paper analyses the effect of the subsidies policy for innovation of two Argentine institutions, FONTAR and SEPYME, in a sample of smalland medium-sized industrial companies, during the period 2010-2012. The effect of the superposition of FONTAR and SEPYME treatments is considered using the methodology of propensity score matching. Evidence of additionally is found when evaluating the individual impacts of the programs. However, no evidence of additionally or crowding out is found when the superimposed effect is considered. Finally, FONTAR’s actions seem to be more effective than those of SEPYME.

Impactos de programas públicos superpuestos para promover actividades innovativas en empresas de Argentina