«актуальные вопросы развития социального сектора экономики: отечественный и зарубежный опыт»

 
The Impact of Research and Development on Economic Growth. Research 
and development (R&D) refers to systematic and creative activities that generate 
knowledge and find new uses for existing knowledge; these activities must be 
innovative, creative, uncertain, systematic and replicable [1]. Many empirical studies 
have focused on the impact of R&D on economic growth and considered that 
hypothetical researchers 'continued to stand on the shoulders of past giants' [2]. 
Davidson and Segerstrom [3], Janjua and Samad [4] and Acemoglu [5] found positive 
effects of R&D expenditure and investment on economic growth through 
technological advances. Similarly, Koopmans and Donselaar concluded that a 10% 
increase in R&D was associated with a 1.1-1.4% increase in productivity [6]. From 
different perspectives, Mohnen conducted a thorough study of how R&D investment 
affects productivity and economic growth. He concluded that investment in R&D 
produces positive results and contributes to the diffusion of knowledge on a scale that 
varies across countries. On the other hand, Bloom and co-authors [7] found that 

---

 
INTERNATIONAL SCIENTIFIC-PRACTICAL CONFERENCE 
«ACTUAL ISSUES OF THE DEVELOPMENT OF THE SOCIAL SECTOR OF THE 
ECONOMY: DOMESTIC AND FOREIGN EXPERIENCE» 
ANDIJAN, UZBEKISTAN, MAY 2020 
211 
«Иқтисодиётнинг ижтимоий секторини ривожлантиришнинг долзарб масалалари: миллий ва хорижий тажриба» 
«Актуальные вопросы развития социального сектора экономики: отечественный и зарубежный опыт» 
 
research productivity was declining by 5.3% annually worldwide. The authors note 
that research productivity has been halved for about 13 years. They argue that while 
R&D spending is growing at a slower rate, the economy is growing more slowly. 
Thus, to maintain the current rate of growth, the economy must double its investment 
in R&D every 13 years. Frenkel and the co-authors [8] have criticized the complex 
and cumbersome bureaucratic approval procedures that delay entry with novelty. Chen 
and co-authors [9] concluded that sustainable economic development along the 
innovation path relies on basic and applied research with the publication of scientific 
articles and patents. They attribute high productivity growth to patent-based 
productivity growth, especially in developing countries. Eom and Lee [10] highlighted 
the successful commercialization of R&D results and the increasing share of 
innovative products in sales, rather than just increasing the number of patents. Most 
R&D work is imitated research and development that replicates the products of other 
companies, while innovative R&D is focused on developing new high-quality 
products [11]. Janjua and Samad [12] noted that as long as imitation costs are lower 
than innovation costs, developing countries will develop faster than developed 
countries.