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How Much Science? The 5 Ws (and 1 H) of Investing in Basic Research

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  • Gersbach, Hans
  • Schneider, Maik
  • Schetter, Ulrich

Abstract

The aim of this paper is to identify possibilities for guiding policy in the area of basic research. We provide an extended review of basic research and offer new insights on its linkages to key economic variables and economic growth. After defining what basic research is, we identify and discuss a series of emerging policy issues by asking why we should invest in basic research, who should invest how much in basic research and when, over the course of a country?s development? We finally address the question where investments in basic research should be targeted. Moreover, we explain why many pressing issues regarding basic research policy deserve to be explored further.

Suggested Citation

  • Gersbach, Hans & Schneider, Maik & Schetter, Ulrich, 2015. "How Much Science? The 5 Ws (and 1 H) of Investing in Basic Research," CEPR Discussion Papers 10482, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:10482
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    2. Hans Gersbach & Ulrich Schetter & Maik T. Schneider, 2021. "Macroeconomic Rationales For Public Investments In Science," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 575-599, April.

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    More about this item

    Keywords

    Basic research; Economic growth; Growth policy;
    All these keywords.

    JEL classification:

    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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