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There is no one-size-fits-all recipe for building a strong, research-based economy. Many countries are trying to find a balance between public and private investment in research and development. And developing countries often pursue research with more immediate commercial or social promise instead of basic science.
This Nature Outlook explores the elements that make up a strong science-led economy, the role research-funding policy has, and how the diverse needs of research economies around the globe may be met. It specifically looks at the science funding and policy scenes in Germany, China, Singapore, the Middle East, Rwanda, Russia, Australia and the US state of Massachusetts. Each location has lessons for policymakers as they embark on creating science-led economies.
More money than ever is being invested in research and development. Countries that previously spent little are now pumping money into science to secure their future economic growth. By Alla Katsnelson, infographic by Alisdair Macdonald.
Cheap energy can encourage economic growth but it can also force economies into specific energy-intensive futures. Roger Fouquet argues that path dependence in energy systems has profound implications for an economy and should be considered carefully before governments make choices about energy provision.
A new model for translational research and drug repositioning has recently been established based on three-way partnerships between public funders, the pharmaceutical industry and academic investigators. This article discusses the progress with two pioneering initiatives — one involving the UK Medical Research Council and one involving the US National Center for Advancing Translational Sciences — and the unique requirements and challenges for this model.