earticle

영어

Due to the scarcity of public expenditure in the era of low growth and ageing population, governments are paying attention to how to use public resources in more efficient and effective ways. In particular, while debates on the effectiveness of public R&D investment in Korea have been proceeding, it is a matter of great concern to both economists and policy makers to compare the efficiency of public R&D expenditures among many countries investigating impacts of public R&D investment on the national economy. In this paper, we analyzed and compared efficiency of public R&D investment among many countries focusing on promotion for the private R&D investment. In addition, we conducted quantitative analyses to investigate how Korean government’s R&D expenditure improve competitiveness in the cutting-edge technologies. From the empirical results, public R&D investment in Korea is so efficient for promoting private R&D investment as well as outcomes such as academic papers, patents and commercialization that it is thought to be significantly helpful to science and technology development.