Federal funding andd the level of private expenditure on basic research. From: Southern Economic Journal | Date: July 1, 1993| Author: | COPYRIGHT 1993 Southern Economic Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

An econometric analysis using time series data suggests that federal spending on research helps boost investment by the private sector in this area. Federal spending on basic research has the most marked effect, though there is also an important short-term effect from spending on applied research. There also appears to be a countercyclical element to private spending on basic research with a negative relationship between this and sales levels. This finding merits further research, and contrasts with previous findings.

I. Introduction

Economists have long been interested in ...

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