Coun­try deemed a lag­gard in R&D

Kathimerini English - - Focus - DIMITRA MANIFAVA

Greece’s spend­ing on re­search and de­vel­op­ment (R&D) recorded an his­toric high in 2015 but re­mains rel­a­tively low com­pared to other de­vel­oped coun­tries. Data pub­lished yes­ter­day by the Or­ga­ni­za­tion for Eco­nomic Co­op­er­a­tion and De­vel­op­ment (OECD) ranked Greece 32nd among 38 of its mem­ber-states.

This was de­ter­mined by the OECD’s R&D in­ten­sity in­dex, which mea­sures ex­pen­di­ture on re­search and de­vel­op­ment as a per­cent­age of each coun­try’s gross do­mes­tic prod­uct. In Greece that did not even make 1 per­cent (reach­ing 0.96 per­cent) of GDP in 2015, amount­ing to just over 1.68 bil­lion eu­ros.

That com­pares with 1.49 bil­lion eu­ros spent in 2014 (0.84 per­cent of GDP) and 1.39 bil­lion in 2011 (0.67 per­cent). In 2015 the av­er­age rate in the Euro­pean Union stood at 2 per­cent of GDP.

In the cur­rent lean pe­riod, that fail­ure to put enough money into R&D has more ev­i­dent con­se­quences, as it con­sti­tutes one of the de­ci­sive pa­ram­e­ters of the Greek re­ces­sion and the non-cre­ation of jobs. Fur­ther­more, the in­suf­fi­cient in­vest­ment in R&D by state en­ti­ties and the pri­vate sec­tor ag­gra­vates the brain drain as po­ten­tial em­ploy­ees in the re­search sec­tor seek work with in­sti­tu­tions and en­ter­prises abroad.

OECD data showed 0.96 per­cent of GDP went to­ward re­search and de­vel­op­ment in Greece in 2015.

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