The liberalization of economic policies in the last two decades and intensifying market competition tend to be a cause of policy concern for the survival of SMEs in emerging economies like India. These SMEs account for the largest chunk of industrial units and employment in the national economy....

In the present paper, it is attempted to empirically verify the impact of economic liberalization on the R&D behaviour of Indian pharmaceutical firms controlling for the effects of several firm specific characteristics including firm size. The results from the Tobit analysis for a sample of...