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Finance and Credit
 

Foreign specifics of planning and earmarking State funds for Science

Vol. 21, Iss. 39, OCTOBER 2015

PDF  Article PDF Version

Received: 3 June 2015

Accepted: 13 June 2015

Available online: 28 October 2015

Subject Heading: INVESTING

JEL Classification: 

Pages: 23-40

Feoktistova O.A. Financial Research Institute, Moscow, Russian Federation
feoktistova@nifi.ru

Fokina T.V. National Research University - Higher School of Economics, Moscow, Russian Federation
fokina@nifi.ru

Importance Science is a key driver of increasing the national competitiveness. Hence a high quality of scientific findings and their focus on satisfaction of contemporary society and science-based and hi-tech economy's interests became a priority for national governments and supranational bodies.
     Objectives We analyzed foreign experience, which is interesting for Russia, since the RF Government wants the Russian science to regain its leading positions. Science acquired its new role in the national economic development as it was necessary to dramatically modify the system of public administration of scientific researches and developments, and mechanisms for coordinating activities of all parties to the process.
     Methods Using a comparative analysis, we reviewed the practice of planning and earmarking State funds for science in the OECD nations.
     Results We formulated the specifics of planning and allocating State funds for science, and some recommendations for Russia.
     Conclusions and Relevance The analysis makes its scientific contribution to developing the methodology for governing State funds in R&D and improving the efficiency of this activity. The quality of scientific findings and developments and the efficiency of research institutions should be improved through alignment of budgetary finance with performance of institutions, competition for State aid and R&D standards and evaluation. This approach will increase the quality of the Russian R&D.

Keywords: State, finance, R&D policy, research, development

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