Labor, capital investment, the availability of natural resources and raw materials, technical innovation, and management skills all contribute to high productivity and economic development in a nation. Here the discussion will focus on the role that R&D plays in technological innovation and economic development.

The discussion on the output of science and technology pointed out that R&D productivity to some degree can be measured by output in terms of scientific literature, patents, and the gross domestic product of each employed person. A general relationship or correlation between investment in R&D and these three entities seems to exist. This general correlation can never be high because ...

Get Managing Research, Development, and Innovation: Managing the Unmanageable, Third Edition now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.