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Money for Something: The Links between Research Funding and Innovation

Britta Glennon (), Julia Lane () and Ridhima Sodhi ()
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Britta Glennon: University of Pennsylvania
Ridhima Sodhi: New York University

No 11711, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Federal research funding to universities is often based on a desire to stimulate innovation – so that they spend taxpayer money for "something". There is growing understanding of the need to change the structure of research funding in order to do so; less is known about the effectiveness of different organizational structures. Yet, as Jones has pointed out, increasing the efficiency with which we transfer knowledge from one generation to the next could have important implications for innovation and productivity growth. In this paper we use new data to examine how the main organizational structure used to train the next generation of scientists and inventors – teams funded by research grants – leads to innovative activity as measured by patents.

Keywords: UMETRICS; innovation; patents; research policy; teams (search for similar items in EconPapers)
JEL-codes: O30 O31 O38 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ino, nep-ipr and nep-sbm
Date: 2018-07
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