Abstract

Investigations of existing relationships between R&D inputs and outputs from an econometric perspective have increased in past decades in response to the challenges faced by governments. As they are operating on increasingly tight budgets, governments are looking to maximise returns on investments; furthermore, accountability for public spending has become a primary issue for residents who expect to get the most value for their tax dollars. Most studies of economies and diseconomies of scale in scientific production have been performed with a view to providing evidence-based policy advice that will improve the allocation and management of resources in the research sector and, ultimately, enhance efficiency. This study adds to the growing knowledge base on the factors driving scientific productivity (i.e., the efficiency with which research inputs are converted into research outputs) at the national and regional levels by reporting on the results of an analysis performed using the most comprehensive dataset on STI indicators that is currently available for European Research Area (ERA) countries and NUTS2 regions. Diminishing returns were observed for R&D investment and expenditure indicators, whereas economies of scale were observed for human resource indicators. These results are discussed in light of their implications for research policy.

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