DP10482 How Much Science? The 5 Ws (and 1 H) of Investing in Basic Research
|Author(s):||Hans Gersbach, Ulrich Schetter, Maik Schneider|
|Publication Date:||March 2015|
|Keyword(s):||basic research, economic growth, growth policy|
|Programme Areas:||Public Economics, Industrial Organization|
|Link to this Page:||www.cepr.org/active/publications/discussion_papers/dp.php?dpno=10482|
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.