The Returns to Publicly Funded R&D focuses on the returns to
U.S. public-sector investments in R&D and the accompanying new
empirical analysis relates specifically to the returns to
public-sector R&D expenditures in U.S. Federally Funded
Research and Development Centers (FFRDCs). One motivation for
studying the rates of return to public-sector R&D is the
paucity of existing literature on the topic. However, there are two
other important motivations for studying the rates of returns to
public-sector R&D: a public accountability motivation and a
mandated public policy motivation. Although the analysis of
investments in R&D in FFRDCs presented herein is econometrics
based, there is however a frequently overlooked program evaluation
literature that also offers insight into the rates of returns to
public-sector R&D. Examples of the program evaluation
literature is presented in Section 3 for completeness as well as to
illustrate a broader rate of return concept than that presented in
the econometrics-based literature. U.S. legislative actions to
increase publicly funded R&D in support of private-sector
R&D are discussed in Section 4. For the purpose of providing
context, a brief history of FFRDCs in the United States is
presented in Section 5. FFRDCs have surprisingly been an overlooked
element of the public-sector ecosystem that supports public-sector
research. An empirical analysis of U.S. public-sector R&D
expenditures in FFRDCs, and the associated scientific publications,
is presented and discussed in Section 6. Concluding observations
about the themes discussed throughout this monograph are offered in
Section 7.
General
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