Box A: The Slow Diffusion of UK Defence Research into Productivity

Antonio Haro Banon ()

National Institute Economic Outlook, 2026, issue Summer, 33-37

Abstract: Britain cut its defence research budget sharply after the Cold War. Research of this kind can raise aggregate productivity, but only slowly: the evidence here points to a peak around four years out, and to a modest gain. The government's new Defence Investment Plan runs for four years, which is barely long enough to see the return begin.

JEL-codes: E62 H56 O30 O47 (search for similar items in EconPapers)
Date: 2026
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