Research and Development Funding Patterns in BRICS Countries: Policy Lessons for South Africa’s Provincial Administration

Abstract

Over the years, research and Development (R&D) has been viewed as an enabler for economic growth and socio-economic development. Thus, the emergence of the knowledge economy across the globe has necessitated the need for countries to introspect on their readiness and preparedness to use research and development as a strategic tool for growth and socio-economic development. Scholars posit that R&D is a cornerstone for development around the globe because it has been widely documented that economic growth has been evident in countries that have invested in R&D. Thus, R&D is an integral part of socio-economic development. This is why the spine of this paper’s argument rests on the significance of research and development funding. This paper draws attention to the research and development funding in the BRICS countries.