There is a variety of models. I would say that very few countries do not offer tax credits for R and D; the vast majority do. As to the generosity of the tax credit, Canada's is not the most generous tax credit, if you look at large companies.
Keep in mind that SR and ED is in fact two systems. There is one for Canadian-controlled private corporations, which is a refundable 35% tax credit. The other one is a 20% non-refundable credit for what you call large companies or non-CCPCs.
That being said, keep in mind also that non-CCPCs are not necessarily just large multi-nationals. Correct me if I'm wrong, but I think the threshold is $400,000 in taxable income. Many mid-sized companies would fall under the large company definition.