Effects of large-scale research funding programs: a Japanese case study

This study investigates the effects of large-scale research funding from the Japanese government on the research outcomes of university researchers. To evaluate the effects, we use the difference-in-differences estimator and measure research outcomes in terms of number of papers and citation counts per paper. Our analysis shows that the funding program led to an increase in the number of papers in some fields and an increase in the citation counts in the other fields. A comparison of our estimation results with assessment data obtained from peer reviews showed important differences. Since the characteristics of research vary according to the field, bibliometrics analysis should be used along with the peer review method for a more accurate analysis of research impact.