Main Issues of R&D Financing in Romania

Under current circumstances, the acute shortage of financial resources–particularly of budgetary resources – makes it very difficult to provide for the funding needed to carry on the activities of research, development and innovation (RDI), which are acknowledged, in all experts’ opinions, to play a crucial role in overcoming crisis and economic recovery. It is, thus, more important than ever that the policy makers be aware of the severe consequences that might come forth due to the lack of governmental support for these activities. A strong commitment to responsibly setting priorities, designing policies and instruments for performance growth, and to mindfully saving and using the limited resources available to RDI is, therefore, critical. The purpose of this paper is to analyse and assess how challenges related to the provision of financial inputs for research activities are addressed by the national research system, especially in the new condition of economic crisis. Its actors have to ensure and justify that adequate financial and human resources are most appropriately mobilised for the operation of the system. A central issue in this domain is to choose the appropriate modalities and instruments for transforming effects of the resource mobilisation in visible performance increasing of the R&D system and, also, for transferring the knowledge results into economy. The paper aims to analyse and assess specific barriers faced by the circulation of the financial flows that must be overcome by research and development actors.