The Internationalisation of UK R&D”

  • Bloom N
  • Griffith R
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Policies to promote research and development (R&D) are high on the government’s agenda. R&D\r
and innovation are seen as key drivers of economic growth and important for raising UK\r
productivity. This paper considers recent trends in UK R&D performance. We show that UK R&D\r
is more internationalised than that of other G5 countries and is becoming increasingly so at a faster\r
rate. A rising share of UK R&D is funded from abroad and UK firms are undertaking more of their\r
R&D overseas. Using an international panel of countries, we show that R&D in one country\r
responds to a change in the price in another ‘competitor’ country. This suggests that UK innovation\r
policies could play an important role in determining whether increasingly footloose R&D locates in\r
the UK or moves overseas.

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  • Nicholas Bloom

  • Rachel Griffith

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