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Public vs. private R&D: impacts on productivity

European Central Bank
Summary
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86% Informative

ECB Blog shows that publicly funded R&D complements private investments and has greater effects on productivity growth because of its larger spillovers.

Arnaud Dyèvre was selected as one of the finalists with the research highlighted in this post.

This is the third post in our series featuring work submitted to the ECB ’s 2024 Young Economist Prize .

Applications for the 2025 Prize will be open from 13 January to 12 February 2025 .

The US government spent an average of USD 25 billion a year on research initiatives in constant 2020 dollars in the subsequent decade .

NASA funding surge of the 1960s is a telling example of such shocks.

Public R&D lays the groundwork through fundamental research, which entrepreneurs then build upon to create marketable products and services.

VR Score

94

Informative language

99

Neutral language

45

Article tone

semi-formal

Language

English

Language complexity

60

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

long-living

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