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Type: Journal Articles Authors: Rachel Griffith, David Sandler and John Van Reenen ISSN: Print: 0143-5671 Online: 1475-5890
Published in: Fiscal Studies, Vol. 16, No. 2, May 1995
Volume, issue, pages: Vol. 16, No. 2, pp. 21-44
A long-standing concern surrounding the performance of the UK economy is its perceived failure to maintain the same technological pace as its competitors. Industrial research and development (R&D) expenditure as a proportion of GDP fell during the 1980s at a time when all other G7 countries increased the proportion of their output given over to R&D. This ratio is now lower in the UK than in most other G7 countries. If this world-wide trend toward more R&D indicates that industrial production is becoming increasingly science-based, then the UK may be in danger of becoming a relatively low-tech economy. One purpose of this article is to examine whether there is a rational basis for these fears. Search |
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