Innovation: Economic crisis and weak outlook hit R&D, says OECD

13/09/2012 - Business spending on research and development has been hit hard by the economic crisis, with nearly all OECD countries seeing a fall in investment which could impact innovation and long-term growth, according to a new OECD report.

The OECD Science, Technology and Industry Outloook 2012 says that business spending on R&D fell a record 4.5% in 2009 in the OECD. Only France and Korea bucked the trend.

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