Research Risk and Public Policy: The Relative Research Efficiency of Government versus University Labs
AbstractMotivated by the question of which institutions within our, or any nation’s, national innovation system will leverage economic growth in the greatest amount for a given investment in innovation, we compare and contrast the behavior of two types of research institutions: government research laboratories (hereafter, labs) and university research labs. Because of a unique blend of institutional structures and rewards, we argue that universities are in a better position than government labs to provide the research necessary to stimulate economic growth. We then test and validate our model empirically using a unique database on the research output from university and government information retrieval (IR) labs.
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Bibliographic InfoPaper provided by University of North Carolina at Greensboro, Department of Economics in its series Working Papers with number 11-3.
Length: 23 pages
Date of creation: 01 Feb 2011
Date of revision:
R&D; university labs; government labs; information retrieval;
Find related papers by JEL classification:
- H40 - Public Economics - - Publicly Provided Goods - - - General
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-12 (All new papers)
- NEP-INO-2011-02-12 (Innovation)
- NEP-IPR-2011-02-12 (Intellectual Property Rights)
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