How Much Science? The 5 Ws (and 1 H) of Investing in Basic Research

35 Pages Posted: 9 Mar 2015

See all articles by Hans Gersbach

Hans Gersbach

ETH Zurich - CER-ETH -Center of Economic Reseaarch; IZA Institute of Labor Economics; CESifo (Center for Economic Studies and Ifo Institute); Centre for Economic Policy Research (CEPR)

Ulrich Schetter

Harvard University - Center for International Development (CID)

Maik T. Schneider

University of Bath

Date Written: March 2015

Abstract

The aim of this paper is to identify possibilities for guiding policy in the area of basic research. We provide an extended review of basic research and offer new insights on its linkages to key economic variables and economic growth. After defining what basic research is, we identify and discuss a series of emerging policy issues by asking why we should invest in basic research, who should invest how much in basic research and when, over the course of a country's development? We finally address the question where investments in basic research should be targeted. Moreover, we explain why many pressing issues regarding basic research policy deserve to be explored further.

Keywords: basic research, economic growth, growth policy

JEL Classification: H41, O38

Suggested Citation

Gersbach, Hans and Schetter, Ulrich and Schneider, Maik T., How Much Science? The 5 Ws (and 1 H) of Investing in Basic Research (March 2015). CEPR Discussion Paper No. DP10482. Available at SSRN: https://ssrn.com/abstract=2575786

Hans Gersbach (Contact Author)

ETH Zurich - CER-ETH -Center of Economic Reseaarch ( email )

Zürichbergstrasse 18
Zurich, 8092
Switzerland
+41 44 632 82 80 (Phone)
+41 44 632 18 30 (Fax)

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Ulrich Schetter

Harvard University - Center for International Development (CID) ( email )

One Eliot Street Building
79 JFK Street
Cambridge, MA 02138
United States

Maik T. Schneider

University of Bath ( email )

Claverton Down
Bath, BA2 7AY
United Kingdom

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