Measuring the Economic Return on Federal Research Investments

National Academy Of Sciences, Washington DC

Investigators

Abstract

This workshop reviews and discusses the use of quantitative and qualitative data to measure the returns on federal research and development investments. Despite the job-focused mandate of the current ARRA reporting requirements, the impact of S&T funding can be quantified beyond employment. The workshop is organized to elicit specific suggestions for further analysis including new or modified methodologies and data sources. A range of topics is addressed: - Existing quantitative metrics - Existing qualitative metrics - The use of input-output models - Comparison of methodologies - Consideration of international activities The workshop generates a research agenda and data collection efforts to be used by federal research agencies to implement new methodologies and models. Intellectual Merit: The contribution of this project is to systematically assemble the range of work (by academics, consultants, and research agencies themselves) that has been done in measuring research outcomes (within the boundaries of research and development investments, and not including payoffs to services) and to provide a forum to discuss these methods. This project also considers the different methodologies used across fields of research (e.g. agriculture vs. energy research) to identify which are applicable to a range of federal S&T funding. Broader Impact: The extraordinary increase in research expenditures under the American Recovery and Reinvestment Act (ARRA) of 2009 and the President's commitment to science and technology (S&T) funding increases going forward have heightened the need for measuring the impacts of research investments. The workshop contributes to a more empirically-based decision making process with respect to the levels of public investment in research and development.