OECD Science, Technology and Industry Outlook 2014
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OECD Science, Technology and Industry Outlook 2014

The OECD Science, Technology and Industry Outlook 2014 reviews key trends in science, technology and innovation (STI) policies, and performance in more than 45 economies, including OECD countries and major emerging economies. The report draws on the latest OECD work on science and innovation policy analysis and measurement.

Following an overview of the STI global landscape and policy trends, key policy issues are discussed across a series of thematic policy profiles. The third section examines individual STI country performances, along with the most recent national policy developments. These global and national policy trends are monitored by a unique international policy survey conducted by the OECD every two years.

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Government financing of business R&D and innovation You do not have access to this content

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OECD

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Firms are major drivers of innovation but tend to underinvest in R&D. They engage in R&D to differentiate themselves from competitors, to be more successful in business and to increase profits. However, the costs and uncertainty of R&D, the time required to obtain returns on investment, and the possibility that competitors can capture knowledge spillovers – owing to the non-rival and non-excludable nature of R&D – often reduce their incentives to undertake R&D. The funding of innovative entrepreneurship raises further issues, addressed in the policy profile on Financing innovative entrepreneurship.

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