Quotation Prettner, Klaus, Werner, Katharina. 2017. Government-Funded Basic Research: What's in It for Firms? Rutgers Business Review. 2 64-69.


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Abstract

We rely on previous research and highlight the subtle pathways by which state-funded basic research has the potential to affect economic growth and livings standards in the long run.In so doing we acknowledge that basic research itself does not immediately lead to marketable products. The channel that we focus on is that basic research paves the way for profit-driven applied R&D. Without a sound knowledge base about how nature works (the “epistemic base”), new technologies would be difficult to develop and firms would be less willing to invest in applied R&D in the first place.In other words, government-funded basic research has a strong effect on the productivity of private profit-driven applied research. In many cases, government-funded basic research is even a necessary input for profit-driven applied R&D.

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Publication's profile

Status of publication Published
Affiliation External
Type of publication Journal article
Journal Rutgers Business Review
Language English
Title Government-Funded Basic Research: What's in It for Firms?
Volume 2
Year 2017
Page from 64
Page to 69
Reviewed? N
URL https://media.wix.com/ugd/ddcf9a_f4ac1aa1d2b54094a21075eaf8cf4aca.pdf
DOI na
Open Access Y
Open Access Link https://media.wix.com/ugd/ddcf9a_f4ac1aa1d2b54094a21075eaf8cf4aca.pdf

Associations

People
Prettner, Klaus (Details)
External
Werner, Katharina (University of Göttingen, Germany)
Organization
Department of Economics (Crespo Cuaresma) (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5371 Macroeconomics (Details)
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