Australian research

The importance of measuring research and development (R&D) performance Public funding of research and development in most countries is seen as being of great value to the economy by both direct and indirect contributions. Many studies have estimated the benefits and while there is no clear cut figure, it is generally seen that the public benefit well outweighs the cost of publically funded R&D (Industry Commission, 1995). The links between public spend-ing on R&D and innovation are documented and were analysed in depth in two major national studies for th