How Much Science? New Insights on a Classic Policy Challenge
Type
conference paper
Date Issued
2017-06-08
Author(s)
Abstract (De)
What is the economic rationale for investing in science? Based on an open economy model of creative destruction, we characterize four key factors of optimal investment in basic research: the stage of economic development, the strength of the manufacturing base, the degree of openness, and the share of foreign-owned firms. For each of these factors, we analyse its bearings on optimal basic research investment. We then show that the predicted effects are consistent with patterns observed in the data and discuss how the factor-based approach might inform basic research policies.
HSG Classification
contribution to scientific community
HSG Profile Area
SEPS - Economic Policy
Event Title
SSES Annual Congress 2017
Event Location
Lausanne
Event Date
June 8-9, 2017
Subject(s)
Division(s)
Eprints ID
252748