ASSESSING THE EFFECTIVENESS OF PUBLIC INVESTMENT IN RESEARCH AND DEVELOPMENT BY FEDERAL EXECUTIVE BODIES IN RUSSIA

Irina Ilina, Elena Zharova, Alexander Borodin () and Stepan Burlankov
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Irina Ilina: Department of Legal Problems of Science and Innovation Russian Institute for Economics, Policy and Law in Science and Technology (RIEPL), Russia
Elena Zharova: Department of Legal Problems of Science and Innovation Russian Institute for Economics, Policy and Law in Science and Technology (RIEPL), Russia
Stepan Burlankov: Department of Restaurant Business Faculty of Economics Plekhanov Russian University of Economics, Russia

OLSZTYN ECONOMIC JOURNAL, 2016, vol. 11, issue 4, 399-410

Abstract: The purpose of this study is to develop an instrument to measure the effectiveness of public investment in R&D and make timely adjustments to scientific and technical policy. This will contribute to the growth of fundamental results, patents as well as their commercialization and innovative development for the overall economy. This article assesses the effectiveness of public investment in research and technological development (RTD), including attracted extra-budgetary funds,onthebasisoftheauthors’methodologyforassessingtheefficiencyofpublicspending onRTD projects. The main distributors of state budget funds in Russia are the Federal Executive Bodies (FEB).TheproposedtoolfirstallowstheevaluationoftheeffectivenessofpublicexpenditureonRTD in general, although it does not involve comparing individual FEB administrations, but only evaluates their work in promoting the development of their assigned research areas in terms of dynamics. This method sets the general rules for an evaluation of effectiveness in the state financial support of RTD, defines the key indicators reflecting the performance of such support and the use of science as a tool for ensuring the achievement of indicators and the socio-economic development of the state.

Keywords: government investment; Federal Executive Bodies; research and technological development (search for similar items in EconPapers)
JEL-codes: A1 J0 (search for similar items in EconPapers)
Date: 2016
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ole:journl:v:11:y:2016:i:4:p:399-410

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