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What is R&D Expenditure

Chapter 8
Handbook of Research on Economic, Financial, and Industrial Impacts on Infrastructure Development
Current and capital expenditures for research and development on creative work undertaken systematically. This is made to increase knowledge, including knowledge of humanity, culture and society along with the knowledge for new applications. R&D covers basic research, applied research and experimental development. R& D expenditures can be public like, govt. expenditures on research institutes, Grant to the Universities for research work, research and development related wings of the government etc. or it can be private R&D, like many multinational corporations investments for patent, copyright or to develop firm specific skills.
Published in Chapter:
Endogenous Growth and R&D Infrastructure: A Dynamic CGE Modelling Approach for India
Koushik Das (Shyampur Siddheswari Mahavidyalaya, India)
Copyright: © 2017 |Pages: 23
DOI: 10.4018/978-1-5225-2361-1.ch008
Abstract
This chapter attempts to capture the effects of R&D led endogenous growth in an open economy Computable General Equilibrium (CGE) framework which is based on R&D based social accounting Matrix (SAM). Effects of physical and R&D led knowledge capital accumulation have been studied through simulation experiments. It is reported that increase of public expenditure in R&D promotes growth and expands sectoral outputs at the cost of fiscal deficit. Moderate increase of direct tax in the form of education can finance public expenditure on R&D without much reduction of real domestic income of the households.
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