Philippine E-Journals

Research and Innovation Expenditure: A Key to Global Competitiveness, a Fractal Validation

Mark S. Borres | Jessica Magallon-avenido

Discipline: Economics, Business

 

Abstract:

Despite the clear impact of innovation through research on the national economy, expenditures (percentage from GDP allotted to each quality researcher) for supporting scientific investigations are observed to be highly erratic. This study analyzes the impact of this erratic and irregular pattern of expenditures to research on one’s country’s productivity and global competitiveness. It is shown that the high fractal dimension in expenditures smoothens the irregularity of both productivity and global competitiveness such that the governments’ large amount of investment from GDP to research and development investments together with the alliance of the private units and high quality scientific research institutions collectively contribute to maximizing the economy’s potentials to be productive and be globally competitive.