Non-defence R&D spending ‘boosts US productivity’
Dallas Fed researchers find causal link between public expenditure on civilian projects and GDP
There is a causal link between government investment in research and development (R&D) and productivity gains, claims research from the Federal Reserve Bank of Dallas.
In a recent blogpost for the Dallas Fed, Andrew Fieldhouse and Karel Mertens claim that increases in non-defence government-funded R&D “appear to spur sustained growth in long-term productivity”.
They state that government-funded civilian R&D has accounted for around a quarter of all business sector productivity growth since World
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