1978/10/01 by Albert N. Link
Economics, Econometrics and Finance · #Innovation Policy and R&D #Economic Growth and Productivity #Firm Innovation and Growth
paper · doi:10.2307/1057668
Research and development encompasses a myriad of activities. Generally, "research" is defined as the primary search for technical or scientific advancement, and "development" refers to the translation of these advancements into product or process innovations. Conceptually, "research" and "development" are distinct; however, it is often difficult to separate each during a technical project or from resulting technology. Consequently, investments in the entire innovation process are commonly viewed under the heading of R&D.