R&D Trends
and the Open Innovation Activities
of Japanese Firms
Japan‟s economic growth rate has been sluggish since the collapse
of the bubble economy in the early 1990s. Growth in businesses‟
R&D investment has been stagnant ever since.
Figure 1
shows
trends in GDP and R&D investment growth (five-year average annual
growth rate, GDP deflator-adjusted real values). Around 1990, GDP
growth dropped from around 4% to below 2%. Recently, due to a
sharp decline in GDP after the Lehman shock in 2008, its average
growth rate from 2005 to 2009 fell to -1.9%. The growth of private
R&D spending also decreased sharply in the early 1990s. It rose
again between 1995 and 2005, but fell in recent years due to the
financial crisis. On the other hand, public R&D increased in the period
2005–2009. At this moment, the impact of the Tohoku earthquake on
R&D is unknown. However, private R&D spending is expected to
plunge since many companies need to invest in restoration activities.
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