Business Services Industry
The metrics of success.
Australasian Business Intelligence, April, 2007
Byline: Robert Muir
Apr 18, 2007 (BRW - ABIX via COMTEX) -- Robert Solow's thesis on the economic stimulation produced by innovation won him the 1987 Nobel Prize. Solow estimated that technical progress was responsible for about 80 per cent of increases in output per US worker. Government plays a key role in establishing an environment conducive to R&D investment. A 2005 study by the Australian Department of Education, Science & Training concluded that government return on investment in innovation should be benchmarked against commercial realities. Countries such as Japan, China and the EU are boosting their scientific capabilities, while that of the US is dwindling.
Publication Date: 12 April 2007
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