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INTRODUCTION
Expenditures for research and development are current and capital expenditures (both public and private) on creative work undertaken systematically to increase knowledge, including knowledge of humanity, culture, and society, and the use of knowledge for new applications. R&D covers basic research, applied research, and experimental development. Weighted average. The OECD's Frascati Manual defines research and experimental development as "creative work undertaken on a systemic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this stock of knowledge to devise new applications." R&D covers basic research, applied research, and experimental development.
For achieving long-term economic growth, the amount of investments in research and development (R&D) is highly important. R&D plays a major role in innovation, raising productivity and increasing economic growth. Therefore, theoretically, R&D expenditures have a positive and persistent effect on growth. However, empirically there are problems in effect measuring due to direct and indirect effects of different types of R&D. That is the reason for numerous empirical studies, which differ greatly in terms of aggregated level (companies, industries or countries), sources of data (time periods, countries) and measurements of key variables (stocks, flows or differences). Therefore, the results of these studies are not directly comparable; however, in general, the empirical results confirm theoretical assumptions.
Dashboard of Research and Development Expenditure
Glossary of Research and Development Expenditure
Research and development expenditure (% of GDP): Gross domestic expenditures on research and development (R&D), expressed as a percent of GDP. They include both capital and current expenditures in the four main sectors: Business enterprise, Government, Higher education and Private non-profit. R&D covers basic research, applied research, and experimental development. Data are in current U.S. dollars.
Research and development expenditure (current US$): Product of Research and development expenditure (% of GDP) and GDP (current US$).
Note: Microstates and islands those account for less than 1 per cent of the world population were excluded from the analysis.
Research and Development Expenditure as a share of GDP (1996-2014)
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