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The rate of return to investment in R&D: The case of research infrastructures.
- Source :
- Technological Forecasting & Social Change; Nov2016, Vol. 112, p26-37, 12p
- Publication Year :
- 2016
-
Abstract
- The return to R&D investment and activities has been the object of a vast literature, both from a theoretical and empirical perspective. The aim of this overview is to present a selection of contributions to underscore the main shared findings and highlight open issues, while also providing a preliminary analysis of the returns to R&D investment in large research infrastructures (RIs) in Europe. First, a common methodological framework is distilled from the macro-literature, examining the return to R&D in aggregate terms. Then, the evaluation in the context of specific projects, mainly in large RIs, is examined, followed by the explicit consideration of externalities and spillover effects of research activities. A novel empirical analysis of European RIs is also presented, based on a novel data set, to highlight trends and suggest new avenues for the evaluation of the rate of return to investments in research infrastructures, using both a cost effectiveness ratio and a bibliometric citation count as metrics to evaluate the return to R&D investment in these facilities. Directions for future research are sketched in the concluding section. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00401625
- Volume :
- 112
- Database :
- Supplemental Index
- Journal :
- Technological Forecasting & Social Change
- Publication Type :
- Academic Journal
- Accession number :
- 118814754
- Full Text :
- https://doi.org/10.1016/j.techfore.2016.02.018