Friday, January 30, 2015
Outlook for R&D policies across OECD countries.
China has just announced new rules that greatly expand its visa programme for allowing foreign scientists to settle in the country, the People's Daily reported on January 25. Rising research and development (R&D) expenditure in BRICS countries is reducing the lead of OECD economies and deepening the interdependence between regions occupying key niches in global value chains. The 2008 financial crisis has reframed the importance of R&D policies as a means of responding to low productivity growth in OECD economies and for tackling major policy issues with limited funds. The oil price fall will affect green innovation adversely, but could spur further R&D investment in emerging economies dependent on fossil fuel exports.