GLOBAL STIMULUS SUPPORTS INNOVATION: Nations see research and technology as key to long-term ECONOMIC RECOVERY

THE ORGANIZATION for Economic Cooperation & Development (OECD) has performed an analysis of early efforts around the world to buoy sinking national economies by various stimulus packages. The study, which takes an international look at this economic phenomenon, says that most nations are emphasizing research and technology as vital to future growth. “Policy Responses to the Economic Crisis: Investing in Innovation for Long-Term Growth” provides an overview of the efforts, mostly by OECD nations, to stimulate their economies over the next couple of years. More than $1.6 trillion has already been pledged by the various nations, half of that from the U.S. alone, the report states. The study finds that most nations are putting money into the same program areas, namely education, infrastructure improvements, and research and technology. “The effect of these stimulus packages is twofold,” says Sacha Wunsch-Vincent, an economist with OECD who coauthored the report along with fellow economist Dominique Guellec. “...