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OECD Science, Technology and Innovation Outlook 2016

image of OECD Science, Technology and Innovation Outlook 2016

The fully revamped and re-titled OECD Science, Technology and Innovation Outlook is a biennial publication that aims to inform policy makers and analysts on recent and future changes in global science, technology and innovation (STI) patterns and their potential implications on and for national and international STI policies. Based on the most recent data available, the report provides comparative analysis of new policies and instruments being used in OECD countries and a number of major emerging economies (including Brazil, China, India, Indonesia, the Russian Federation and South Africa) to boost the contribution of science and innovation to growth and to global and social challenges. In this edition, detailed country and policy profiles are available on line.

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Tax incentives for R&D and innovation

Public support for business R&D is justified as a means of overcoming market failures that depress the level of R&D and innovation activity in an economy. R&D tax incentives aim to encourage firms, which are the main intended beneficiaries, to invest in R&D by reducing their effective costs (OECD, 2010). Compared with most types of direct subsidies, R&D tax incentives tend to be designed to allow firms to decide the nature and orientation of their R&D activities, on the assumption that the businesses are best placed to identify research areas that can be brought to the market. R&D tax incentives are in principle more market-friendly and neutral than direct support instruments. In addition, direct subsidies under international trade and competition rules are subject to conditions that are less stringent or do not apply in the case of indirect forms of tax support, provided the relief remains non-discretionary and different types of firms and sectors are not automatically excluded.

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