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Research Risk and Public Policy: The Relative Research Efficiency of Government versus University Labs

Author

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  • Leyden, Dennis

    () (University of North Carolina at Greensboro, Department of Economics)

  • Link, Albert

    () (University of North Carolina at Greensboro, Department of Economics)

Abstract

Motivated 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.

Suggested Citation

  • Leyden, Dennis & Link, Albert, 2011. "Research Risk and Public Policy: The Relative Research Efficiency of Government versus University Labs," UNCG Economics Working Papers 11-3, University of North Carolina at Greensboro, Department of Economics.
  • Handle: RePEc:ris:uncgec:2011_003
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    More about this item

    Keywords

    R&D; university labs; government labs; information retrieval;

    JEL classification:

    • H40 - Public Economics - - Publicly Provided Goods - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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