Boosting R&D outcomes in Australia

Vassiliki Koutsogeorgopoulou and Taejin Park
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Vassiliki Koutsogeorgopoulou: OECD
Taejin Park: Bank for International Settlements

No 1391, OECD Economics Department Working Papers from OECD Publishing

Abstract: R&D activity can play a central role in raising productivity. Australia compares well in terms of research excellence. However, there is scope for better translation of publicly funded research into commercial outcomes. Strengthening incentives for collaborative research is essential. A simpler funding system for university research that provides sharper and more transparent incentives for research partnerships is important in this regard. Research-business linkages would also be boosted by more effective programmes encouraging business to collaborate, measures promoting greater mobility of researchers between the two sectors, and steps to ensure that intellectual property arrangements are not a barrier to knowledge. In Australia financial support for encouraging business innovation relies mostly on an R&D tax incentive; raising additionality and reducing compliance costs would enhance the effectiveness of the scheme. Maximising the benefits from public investment in research further hinges upon a well-coordinated science, research and innovation system through a “whole-of-government” approach and consolidating certain programmes. Reform initiatives underway, notably those in the National Innovation and Science Agenda, are welcome.

Keywords: co-ordination; collaboration; commercialisation; evaluation; funding (search for similar items in EconPapers)
JEL-codes: I23 O30 O38 (search for similar items in EconPapers)
Date: 2017-06-08
New Economics Papers: this item is included in nep-cse, nep-ino and nep-sbm
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