Fraumeni, Barbara M.; Okubo, Sumiye - Bureau of Economic Analysis, Department of Commerce - 2002
According to the estimates in this paper, R&D is a significant contributor to economic growth. Over the forty-year period studied, 1961-2000, returns to R&D capital accounted for 10 percent of growth in real GDP. Treating R&D as an investment raises the national savings rate by two percentage...
