The Role of Government Support in R&D and Economic Diversification Across Global Economies

Abstract

This chapter explores the pivotal role of research and development (R&D) in driving economic growth and diversification, with a particular focus on the Gulf States and a comparative analysis of various global economies. It begins by examining the historical reliance of the Gulf States on oil and their current transition towards innovation-driven economies. The chapter outlines key government initiatives in Saudi Arabia, the UAE, and Qatar, evaluating their impacts on economic diversification and growth. The analysis then shifts to a comparative study of R&D investment and its effects on GDP growth across different regions. It covers Southeast Asia, East Asia, North America, and Southern Europe, offering insights into how government policies and funding mechanisms influence innovation and economic performance. By contrasting the experiences of countries like Singapore, Australia, Japan, China, Mexico, the United States, Canada, Spain, France, and Portugal, the chapter highlights successful strategies and common challenges.