R&D expenditures and productivity


by Knoema on Nov 8, 2013 | Views: 43 | Score: 0
Sources: knoema.com
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Knoema
Knoema on Nov 8, 2013 4:51 AM said:

According to endogenous growth theories, innovations is one of the key drivers of economic growth. To boost innovations and technical progress, countries spend a lot of money on Research and Development. In most developed countries expenditures on research and development exceed 2% of GDP. And about 70-75% of R&D expenditures are covered by private business corporations.