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Some factors correlated with fluctuations in research and development spending

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1 Author(s)
Ellis, L.W. ; New Haven Univ., West Haven, CT, USA

The author investigated the reasons why R&D spending by organizations other than the federal government appears to vary about a seemingly steady value as a percentage of the GNP. He found several highly correlated factors. Three of these factors correlated positively with nonfederal R&D spending over limited periods of time in the last three decades: the space program in the 1960s; the high rate of change in energy prices in the 1970s; and the availability of the R&D tax credit in the 1980s. A fourth correlated factor was found between a leading real interest rate and nonfederal R&D spending. After removing these effects, only a small underlying increase was found annually in nonfederal R&D spending when expressed as a percentage of the GNP

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Engineering Management, IEEE Transactions on  (Volume:36 ,  Issue: 2 )