№ 12/2018

Fìnansi Ukr. 2018 (12): 52–71https://doi.org/10.33763/finukr2018.12.052

FINANCE OF EDUCATION AND SCIENCE

BOHDAN Ivan ¹, KONOVALENKO Dmytro ²

¹National Bank of Ukraine
OrcID ID : https://orcid.org/0000-0002-1752-0198
²SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0001-6314-3525

International comparisons of researcher’s labor productivity and macroeconomic effects of research and development

The article deals with the evaluation and comparative analysis of the research and development (R&D) productivity, as well as specification of their macroeconomic effect. Based on data of the OECD and Ukraine’s State Statistics Service, the authors show the results of international comparisons across the R&D sectoral performance, the employment of scientific personnel, the productivity of researchers and the macroeconomic effect of R&D. The authors propose a methodical approach for the evaluation of R&D efficiency and effectiveness based on key indicators: “R&D productivity” (as the value of R&D per researcher) and “ R&D macroeconomic effect” (as the elasticity of long-term and medium-term GDP per capita growth in relation to the value of R&D), carried out over a certain period of time. The authors reveal the differences in a sectoral structure of the R&D performance and the employment of researchers between Ukraine and other countries. It is concluded that Ukraine has the lowest productivity of researchers in international context, which is 4.5 times lower than the average productivity of the OECD countries. By applying a linear approximation method on the basis of data for 33 countries, the authors estimate the average GDP growth response to the R&D accumulation in the medium run, that is about 0,3% of GDP growth for every 1% growth in the value of R&D. The designed model allows to specify in the international context the countries-leaders and countries-outsiders through the lens of macroeconomic impact of R&D. Thr authors conclude that macroeconomic effect of R&D in Ukraine is minor and suggest that the implementation of OECD international standards provides a proper basis for the analysis of R&D performance and is important for the assessment of the effectiveness of government R&D policy.

Keywords:research and development (R&D), OECD Frascati Manual, international comparisons R&D indicators, R&D productivity, macroeconomic effect of R&D, R&D effectiveness

JEL: O30, O38

BOHDAN I. . International comparisons of researcher’s labor productivity and macroeconomic effects of research and development / I. . BOHDAN, D. Konovalenko // Фінанси України. - 2018. - № 12. - C. 52-71.

Article original in Ukrainian (pp. 52 - 71)

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