Abstract
This study evaluates efficiency of R&D activities based on the stochastic frontier analysis across 69 counties with developed and developing economies. Gross domestic expenditures on R&D in purchasing power parity, researchers per million inhabitants, technicians per million inhabitants are treated as inputs while patents granted to residents and scientific and technical journal articles are considered as outputs. According to the analysis results Costa Rica, Israel and Singapore are the most efficient in terms of transformation of available resources into the R&D results. What concerns Belarus it is necessary that additional investments in R&D go together with increasing efficiency of available resources’ usage.
Highlights
Research & Development (R&D) is a crucial element for technological change and innovation at firm and national level as it leads to the welfare of nation via achieving productivity growth and creation of unique competitive advantage [1]
The estimation results of the R&D efficiency framework are displayed in tabl
The current study aims at the evaluation of the technical efficiency of using R&D resources among developed and developing countries using Stochastic Frontier Analysis
Summary
R&D is a crucial element for technological change and innovation at firm and national level as it leads to the welfare of nation via achieving productivity growth and creation of unique competitive advantage [1]. According to Wang and Huang [6] R&D investment is one of the most important elements for supporting scientific and technological progress, countries that are not using the funds effectively cannot succeed in the implementation of their national R&D programs [7]. In addition to this inefficient allocation and usage of limited resources leads to the situation when additional investments in R&D will not accelerate the economic growth and do not have a positive effect in the new knowledge creation. Since R&D investment is one of the most crucial elements in promoting scientific and technological progress [6, 8, 9]
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