Financing the Generation of New Science and Technology

  • A. Nussbaumer
Part of the International Economic Association Conference Volumes, Numbers 1–50 book series (IEA)


Science and technology represent one of the most important sources of economic growth, together with the accumulation of capital and the formation of human capital. Their generation may even be considered a prerequisite for the application of other factors of growth, since science and technology affect not only the technological processes involved but also the possible objectives of production to be realised by factor input.


Capital Market Small Firm Government Expenditure Development International Comparison Small Country 
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  1. [1]
    R. C. O. Matthews, ‘Contribution of Science and Technology to Economic Development’, in The Role of Science and Technology in Economic Development, UNESCO Sc. 70, XIII. 18A (UNESCO 1970), p. 29. (Printed as Chapter 1 of this book.)Google Scholar
  2. [2]
    National Science Foundation, Federal Funds for Science, XI, Fiscal years 1961, 62, 63 (1964), p. 93.Google Scholar
  3. [3]
    S. Peter Burley and Oskar Morgenstern, ‘Insiders and Outsiders in Industrial Research’, in Zeitschrift für Staatswissenschaft, Vol. 125 (1969), p. 199.Google Scholar
  4. [4]
    O.E.C.D., Proposed Standards Practised for Research and Development.Google Scholar
  5. [5]
    Figures for 1964 have been 25·3 per cent, 39·7 per cent and 35·0 per cent respectively. For details see W. Klappacher, Lage der Forschung und Entwicklung in Österreich 1963–1964 (Wien).Google Scholar
  6. [6]
    See F. M. Scherer, ‘Government Research and Development Programs’, in Measuring Benefits of Government Investment, ed. R. Dorfman (Washington, D.C., 1965), pp. 34–7.Google Scholar
  7. [7]
    R. Dorfman, Measuring Benefits of Government Investment (Washington, D.C., 1965), pp. 4–6.Google Scholar
  8. [8]
    National Science Foundation, Federal Funds, p. 6.Google Scholar
  9. [9]
    Betriebliche Forschung in Österreich, Bundeskammer der gewerblichen Wirtschaft.Google Scholar
  10. 10]
    S. P. Burley and O. Morgenstern, Zeitschrift, pp. 193, 196.Google Scholar
  11. [11]
    E. Mansfield, ‘Industrial Research Expenditures: Determinants, Prospects and Relation to Firm Size and Inventive Output’, Journal of Political Economy, Vol. LXXII (1965), pp. 333–7.Google Scholar
  12. [12]
    See for instance D. Novick, ‘Das Programmbudget: Grundlage einer langfristigen Planung’, in Nutzen-Kosten-Analyse, ed. H. C. Rechtenwald (Tübingen, 1970), p. 155.Google Scholar
  13. [13]
    R. Dorfman, Measuring Benefits, p. 8.Google Scholar

Copyright information

© International Economic Association 1973

Authors and Affiliations

  • A. Nussbaumer
    • 1
  1. 1.University of ViennaAustria

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