A new approach to assessing the science contribution to the state economy = Новий підхід до оцінки внеску науки в економіку держави

Abstract

The article is dedicated to the issues of assessing the science contribution to the state economy. The suggested author’s approach to estimation the science impact on the economic growth. The authors carried out modeling of estimation the role of science in the country’s economic development on the example of Great Britain. According to the models obtained, the volume of R&D expenditures has the most significant influence on the country's economic development, and in the long outlook this impact is almost twice as high as in the short-term one. The article conclusion contains advantages and limitations of author’s approach to assessing the science contribution to the state economy.