R&D expenditures from the macroeconomics and economic policy in some countries

Gurkov R.

The article discusses alternative approaches to assessing the effectiveness of R&D in economy. The author hypothesizes that R&D expenditures can provoke different consequences, which depends on differences in political and institutional regime in this or that country. The efficiency of R&D in the modern world, according to the author, may not depend on the share of expenditure on science in GDP. The article questions the traditionally high estimation of China's R&D policy.

Keywords:R&D, innovation economy, development institutions