Public research and development (Public R&D) refers to the R&D activities related to public sectors, including governments, colleges and non-profit organizations. [2] Public R&D include academic fundamental research, applied research and R&D grants and contracts to private sectors, where later two are known as 'R&D subsidy'. Public R&D could be understood as a funder or a performer of an R&D activity. According to National Science Foundation in U.S., in 2015, R&D expenditures performed by federal governments, local governments, colleges and non-profit organizations are 54, 0.6, 64, and 20 billions of dollars, respectively. Meanwhile, industries perform R&D expenditures of 356 billion dollars. Moreover, R&D expenditures funded by federal governments, local governments, colleges and non-profit organizations are 121, 4.3, 17, and 19 billions of dollars, respectively. R&D expenditures funded by industries are 333 billion dollars. [3] In terms of R&D funders, public R&D to private R&D ratio is about 0.5.
Israel is the world leader as a percentage of GDP in public spending in research and development, the United States leads in total sums spent.
Economists have made significant strides to understand the dynamics of public R&D, along with its cascading effects.
Scholars generally propose that public R&D enhances industrial productivity (e.g., Levy and Terleckyj, 1983; [4] Nadiri and Mamuneas, 1994 [5] ).However, the improvement of productivity could result in R&D spill-over of public sectors, researcher movements and co-operation between public and private sectors.
Economists are particularly concerned about whether public R&D stimulates or crowds out the private sector R&D. It is generally known as a 'policy success', if the public R&D (especially the government R&D subsidy) could stimulate the R&D investment of private sectors. So far, there is no conclusive viewpoint in the literature (e.g., Toole, 2007; [6] Cohen, Coval, and Malloy, 2011; [7] Azoulay, Zivin, Li, and Sampat, 2018 [8] ).
Public R&D is also positively related to stock returns of industrial firms (Chen, Chen, Liang, and Wang, 2020). [2] Although they show that abnormal returns based on public R&D ratio generate about 0.9% abnormal returns per month, and suggest that the positive relation could be interpreted by increased cash flow risks.
The EU spent €352 billion on R&D in 2022, 2.22% of EU GDP. [9] R&D as a percentage of GDP was highest in Belgium (3.44%), followed by Sweden (3.40%), Austria (3.20%) and Germany (3.13%) as of 2022. [9]
Israel leads the world in spending as a percentage of the economy on Research and development. [10] Israel spent 6.02% of its GDP on R&D. [11] Israel has focused on development on human capital investment with significant investment going toward knowledge based sectors of the economy. [12]
The United States spends the most on R&D in pure terms of investment. Federal research and development budget in the fiscal year of 2020 was $156 billion. [13]
The economy of Bulgaria functions on the principles of the free market, having a large private sector and a smaller public one. Bulgaria is an industrialised high-income country according to the World Bank, and is a member of the European Union (EU), the World Trade Organization (WTO), the Organization for Security and Co-operation in Europe (OSCE) and the Organization of the Black Sea Economic Cooperation (BSEC). The Bulgarian economy has experienced significant growth (538%), starting from $13.15 billion and reaching estimated gross domestic product (GDP) of $86 billion or $203 billion, GDP per capita of $31,148, average gross monthly salary of 2,009 leva, and average net monthly salary of $2,102 (2022). The national currency is the lev, pegged to the euro at 1.95583 leva for 1 euro. The lev is the strongest and most stable currency in Eastern Europe.
The economy of Canada is a highly developed mixed economy, with the world's tenth-largest economy as of 2023, and a nominal GDP of approximately US$2.117 trillion. Canada is one of the world's largest trading nations, with a highly globalized economy. In 2021, Canadian trade in goods and services reached $2.016 trillion. Canada's exports totalled over $637 billion, while its imported goods were worth over $631 billion, of which approximately $391 billion originated from the United States. In 2018, Canada had a trade deficit in goods of $22 billion and a trade deficit in services of $25 billion. The Toronto Stock Exchange is the tenth-largest stock exchange in the world by market capitalization, listing over 1,500 companies with a combined market capitalization of over US$3 trillion.
The economy of the Republic of the Congo is a mixture of subsistence hunting and agriculture, an industrial sector based largely on petroleum extraction and support services. Government spending is characterized by budget problems and overstaffing. Petroleum has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Nowadays the Republic of the Congo is increasingly converting natural gas to electricity rather than burning it, greatly improving energy prospects.
Reaganomics, or Reaganism, were the neoliberal economic policies promoted by U.S. President Ronald Reagan during the 1980s. These policies are characterized as supply-side economics, trickle-down economics, or "voodoo economics" by opponents, while Reagan and his advocates preferred to call it free-market economics.
The United States is a highly developed/advanced mixed economy. It is the world's largest economy by nominal GDP; it is also the second largest by purchasing power parity (PPP), behind China. It has the world's sixth highest per capita GDP (nominal) and the eighth highest per capita GDP (PPP) as of 2024. The U.S. accounted for 26% of the global economy in 2023 in nominal terms, and about 15.5% in PPP terms. The U.S. dollar is the currency of record most used in international transactions and is the world's reserve currency, backed by a large U.S. treasuries market, its role as the reference standard for the petrodollar system, and its linked eurodollar. Several countries use it as their official currency and in others it is the de facto currency. Since the end of World War II, the economy has achieved relatively steady growth, low unemployment and inflation, and rapid advances in technology.
Public capital is the aggregate body of government-owned assets that are used as a means for productivity. Such assets span a wide range including: large components such as highways, airports, roads, transit systems, and railways; local, municipal components such as public education, public hospitals, police and fire protection, prisons, and courts; and critical components including water and sewer systems, public electric and gas utilities, and telecommunications. Often, public capital is defined as government outlay, in terms of money, and as physical stock, in terms of infrastructure.
The economy of Singapore is a highly developed mixed market economy with dirigiste characteristics. Singapore's economy has been consistently ranked as the most open in the world, the joint 4th-least corrupt, and the most pro-business. Singapore has low tax-rates and the second highest per-capita GDP in the world in terms of purchasing power parity (PPP). The Asia-Pacific Economic Cooperation (APEC) is headquartered in Singapore.
Research and development is the set of innovative activities undertaken by corporations or governments in developing new services or products and carrier science computer marketplace e-commerce, copy center and service maintenance troubleshooting software, hardware improving existing ones. Research and development constitutes the first stage of development of a potential new service or the production process.
Science and technology in Israel is one of the country's most developed sectors. Israel spent 4.3% of its gross domestic product (GDP) on civil research and development in 2015, the highest ratio in the world. In 2019, Israel was ranked the world's fifth most innovative country by the Bloomberg Innovation Index. It ranks thirteenth in the world for scientific output as measured by the number of scientific publications per million citizens. In 2014, Israel's share of scientific articles published worldwide (0.9%) was nine times higher than its share of the global population (0.1%).
Government spending or expenditure includes all government consumption, investment, and transfer payments. In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure. Government acquisition of goods and services intended to create future benefits, such as infrastructure investment or research spending, is classed as government investment. These two types of government spending, on final consumption and on gross capital formation, together constitute one of the major components of gross domestic product.
Science and technology in Brazil has entered the international arena in recent decades. The central agency for science and technology in Brazil is the Ministry of Science and Technology, which includes the CNPq and Finep. This ministry also has a direct supervision over the National Institute for Space Research, the National Institute of Amazonian Research, and the National Institute of Technology (Brazil). The ministry is also responsible for the Secretariat for Computer and Automation Policy, which is the successor of the SEI. The Ministry of Science and Technology, which the Sarney government created in March 1985, was headed initially by a person associated with the nationalist ideologies of the past. Although the new minister was able to raise the budget for the science and technology sector, he remained isolated within the government and had no influence on policy making for the economy.
Gross fixed capital formation (GFCF) is a component of the expenditure on gross domestic product (GDP) that indicates how much of the new value added in an economy is invested rather than consumed. It measures the value of acquisitions of new or existing fixed assets by the business sector, governments, and "pure" households minus disposals of fixed assets.
The economy of Wales is part of the wider economy of the United Kingdom, and encompasses the production and consumption of goods, services and the supply of money in Wales.
Research and development intensity is generally defined as expenditures by a firm on its research and development (R&D) divided by the firm's sales. There are two types of R&D intensity: direct and indirect. R&D intensity varies, in general, according to a firm's industry sector, product knowledge, manufacturing, and technology, and is a metric that can be used to gauge the level of a company's investment to spur innovation in and through basic and applied research. A further aim of R&D spending, ultimately, is to increase productivity as well as an organization's salable output.
Canadian public debt, or general government debt, is the liabilities of the government sector. Government gross debt consists of liabilities that are a financial claim that requires payment of interest and/or principal in future. They consist mainly of Treasury bonds, but also include public service employee pension liabilities. Changes in debt arise primarily from new borrowing, due to government expenditures exceeding revenues.
The Australian government debt is the amount owed by the Australian federal government. The Australian Office of Financial Management, which is part of the Treasury Portfolio, is the agency which manages the government debt and does all the borrowing on behalf of the Australian government. Australian government borrowings are subject to limits and regulation by the Loan Council, unless the borrowing is for defence purposes or is a 'temporary' borrowing. Government debt and borrowings have national macroeconomic implications, and are also used as one of the tools available to the national government in the macroeconomic management of the national economy, enabling the government to create or dampen liquidity in financial markets, with flow on effects on the wider economy.
Venture capital in Israel refers to the financial capital provided to early-stage, high-potential, high risk, growth startup companies based in Israel. The country's venture capital industry was born in the mid-1980s and has rapidly developed. Israel currently has more than 276 active venture capital funds, of which 71 are international VCs with Israeli offices. Israel's venture capital and incubator industry plays an important role in the booming high-tech sector that has been given the nickname "Silicon Wadi", considered second in importance only to its Californian counterpart, the Silicon Valley.
Science and technology in Kazakhstan – government policies to develop science, technology and innovation in Kazakhstan.
The relationship between Brazil and the World Bank has been successful for many years, despite numerous challenges.
NSF 23-339
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