Returns on R&D Investments (1)
Investments in S&E linked to economic growth
- One-third (possibly 1/2) of all economic growth over the past 50 years can be attributed to advances in S&T. (Solow, Boskin)
Returns on investments in academic research
- Strong linkage between industrial innovation and academic research.
- Rate of Return on society’s investment exceeds 25% (Mansfield)
Source: CEA October ‘95 Report; S&E Indicators, Chapter 8