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Efficiency of public and private R&D in technology-intensive industries: The controlled nuclear fusion case
https://doi.org/10.32609/0042-8736-2018-7-119-130
Abstract
The paper considers the relationship between the format of R&D activity (public or private) and the choice of strategy for innovative development in technology-intensive industries. The analysis is exemplified with the case of research on controlled nuclear fusion. Public and private strategies are shown to face different kinds of risks: public R&D suffers from low managerial efficiency and poor commercialization; private R&D focuses on research projects facing greater uncertainties and therefore larger risks, but in the event of success they lead to more cost-efficient technologies which are easier to commercialize.
About the Author
A. V. Kovalev
National Research University Higher School of Economics (Moscow)
Russian Federation
Russian Federation
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Review
For citations:
Kovalev A.V. Efficiency of public and private R&D in technology-intensive industries: The controlled nuclear fusion case. Voprosy Ekonomiki. 2018;(7):119-130. (In Russ.) https://doi.org/10.32609/0042-8736-2018-7-119-130
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