The economic rationale for public R&I funding and its impact
The Directorate-General for Research & Innovation (DG RTD) of the European Commission regularly carries out policy-oriented in-house analyses on the economic impact of research and innovation (R&I) investments and reforms. The current paper highlights the economic rationale for public R&I funding, presents a number of empirical estimates about the impacts of R&I investment in general, and of public R&I in particular, and concludes that the impacts of public R&I funding are large and significant and that acts as a catalyzer to boost higher levels of productivity growth... that are needed to accelerate economic growth and create more and better job opportunities.
- Corporate author(s): Directorate-General for Research and Innovation (European Commission) Themes: Research policy and organisation
- Subject: diffusion of innovations, economic consequence, economic growth, impact of information technology, innovation, investment, job creation, public investment, report, research and development, research policy, social impact, work productivity