On January 28, 2026, İrem Güçeri (Blavatnik School of Government, University of Oxford) visited the Institute of Public Finance. She exchanged views with researchers from the Institute and the Faculty on current research topics and presented a recent research project on financing frictions in investment in research and development. In the paper “Dynamics of Financing Frictions for Investment in R&D”, she uses administrative firm-level and tax data from the United Kingdom to examine how R&D tax incentives affect innovation investment. The project focuses in particular on the role of liquidity and financing constraints, especially for privately held firms. The findings show that tax incentives play an important role for financially constrained firms and help stimulate additional R&D investment.
