DOES FEDERAL FUNDING “CROWD IN” PRIVATE FUNDING OF SCIENCE? | Zendy

DIAMOND ARTHUR M. | Zendy

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DOES FEDERAL FUNDING “CROWD IN” PRIVATE FUNDING OF SCIENCE?

Author(s) -

DIAMOND ARTHUR M.

Publication year - 1999

Publication title -

contemporary economic policy

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.454

H-Index - 49

eISSN - 1465-7287

pISSN - 1074-3529

DOI - 10.1111/j.1465-7287.1999.tb00694.x

Subject(s) - government (linguistics) , science policy , crowding out , economics , business , private sector , finance , public economics , public administration , political science , economic growth , monetary economics , philosophy , linguistics

Proposed cutbacks in government science funding have caused many to expect that the rate of scientific progress will significantly decline. Before the magnitude of the decline can be estimated, a preliminary question must be answered: what is the extent to which private funding of science may be expected to fill the gap left by the declining government funding? Using data on government and private funding of science, preliminary estimation indicates that past government funding of science has not “crowded out” private funding of science. If this finding is supported by further research, it would indicate that private funding could not be expected to replace lost federal funding of science. (JEL H4, HI, 03, D6, L3)

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