The Impacts of Research and Development Expenditures

The Impacts of Research and Development Expenditures
Author: John J. Wetter
Publisher: Springer Science & Business Media
Total Pages: 128
Release: 2010-11-03
Genre: Science
ISBN: 1441975306

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The research underlying this volume was designed to test the theory of Total Factor Productivity (TFP) in contemporary context. Developed by Nobel Prize-winning economist, Robert Solow, in the 1950s, TFP has been applied by many economists to investigate the relationships among capital, labor, and economic performance. In this analysis, John Wetter presents the hypothesis that technological investment drives growth and performance of the U.S. economy. The study addresses four key questions: 1. Is there a relationship between Total Factor Productivity and Gross National Product? 2. Is there a relationship between Total Factor Productivity and Research & Development expenditures? 3. Is there a relationship between Research & Development expenditures and Gross Domestic Product? 4. Can the relationship in research question #1 be explained by other factors? Is there any potential non-spuriousness (mediation) implication to the relationship? Synthesizing the literature from related fields, including macroeconomics, technology transfer, and innovation, and applying rigorous methodology, Wetter demonstrates that Total Factor Productivity is positively related to Gross Domestic Product and is mediated by Research & Development. In addition, he reveals that the lag time between R&D spending and GDP growth averages eleven years, which suggests that long-term planning is essential to maximizing the benefits of R&D. Wetter considers the implications for policymaking and industry leadership, including such timely issues as the effects of the 2009 U.S. stimulus program.

Measuring Research and Development Expenditures in the U.S. Economy

Measuring Research and Development Expenditures in the U.S. Economy
Author: National Research Council
Publisher: National Academies Press
Total Pages: 213
Release: 2004-12-15
Genre: Political Science
ISBN: 0309093201

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This report examines the portfolio of research and development (R&D) expenditure surveys at the National Science Foundation (NSF), identifying gaps and weaknesses and areas of missing coverage. The report takes an in-depth look at the definition of R&D, the needs and potential uses of NSF's R&D data by a variety of users, the goals of an integrated system of surveys and other data collection activities, and the quality of the data collected in the existing Science Resources Statistics surveys.

The Measurement of Scientific, Technological and Innovation Activities Frascati Manual 2015 Guidelines for Collecting and Reporting Data on Research and Experimental Development

The Measurement of Scientific, Technological and Innovation Activities Frascati Manual 2015 Guidelines for Collecting and Reporting Data on Research and Experimental Development
Author: OECD
Publisher: OECD Publishing
Total Pages: 402
Release: 2015-10-08
Genre:
ISBN: 9264239014

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The internationally recognised methodology for collecting and using R&D statistics, the OECD's Frascati Manual is an essential tool for statisticians and science and innovation policy makers worldwide. It includes definitions of basic concepts, data collection guidelines, and classifications ...

Allocating Federal Funds for Science and Technology

Allocating Federal Funds for Science and Technology
Author: National Research Council
Publisher: National Academies Press
Total Pages: 107
Release: 1995-11-22
Genre: Political Science
ISBN: 030917600X

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The United States faces a new challengeâ€"maintaining the vitality of its system for supporting science and technology despite fiscal stringency during the next several years. To address this change, the Senate Appropriations Committee requested a report from the National Academies of Sciences and Engineering and the Institute of Medicine to address "the criteria that should be used in judging the appropriate allocation of funds to research and development activities; to examine the appropriate balance among different types of institutions that conduct such research; and to look at the means of assuring continued objectivity in the allocation process." In this eagerly-awaited book, a committee of experts selected by the National Academies and the Institute responds with 13 recommendations that propose a new budgeting process and formulates a series of questions to address during that process. The committee also makes corollary recommendations about merit review, government oversight, linking research and development to government missions, the synergy between research and education, and other topics. The recommendations are aimed at rooting out obsolete and inadequate activities to free resources from good programs for even better ones, in the belief that "science and technology will be at least as important in the future as they have been in the past in dealing with problems that confront the nation." The authoring committee of this book was chaired by Frank Press, former President of the National Academy of Sciences (1981-1993) and Presidential Science and Technology Advisor (1977-1981).