The Economics of R&D Policy

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Greenwood Publishing Group, 1997 - Business & Economics - 245 pages
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Industry officials and government policymakers have for some time decried the lack of a framework for establishing and defending Research and Development (R&D) policies. Effective policy requires an understanding of the underlying economics. This book offers models and analysis of the economic elements that drive technology-based growth with emphasis on their implications for policy analysis. It also compares existing U.S. policies with those used in Europe and Japan. The results of these models and analysis is a framework for matching various forms of underinvestment with efficient strategic and policy responses. This market-failure based approach enables industry and government R&D initiatives to be developed, analyzed, and implemented with greater success than previously attained.

The first part of the book analyzes economic trends to show how they are affected by technological change and the evolving nature of foreign competition. R&D spending patterns are studied to identify and characterize market failures that prevent adequate private-sector investments in technology. A model is presented for a typical technology-based industry. The second part looks at specific technologies and policies that impact R&D investment and that have been the subject of intense policy debate.


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2 RD Trends
3 The Economic Roles and Impacts of Technology
4 Economic Elements of RD Policy
5 Rationales for PublicSector RD Policies
6 Alternative Policy Mechanisms
7 Generic Technology
8 Infratechnology
9 Industrial Standardization
10 Financing Applied RD
11 RD Policy Impacts and Impact Assessment Methods
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Page 10 - Robotics. Today's industrial robotics market (worth about $6 billion) is dominated by Japanese companies such as Fanuc, Yaskawa Electric, Kawasaki Robotics, Mitsubishi Electric, and Motoman. US companies — Westinghouse, General Electric, General Motors, and Unimation — first established the industrial robotics market in the 1960s but, by the mid-1980s, all had sold their robotics interests to Japanese companies. Today, the largest US robotics manufacturer (Adept Technology, San Jose) employs...

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About the author (1997)

GREGORY TASSEY is Senior Economist at the National Institute of Standards and Technology. He is the author of numerous books and articles on technology policy and economic growth.

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