Independent report

To what extent does public R&D leverage private capital investment?

Exploratory analysis looking at the impact of public R&D on private capital investment in the UK and other OECD countries using different econometric techniques.

• From: Department for Science, Innovation and Technology
• Published: 28 November 2025

Documents

To what extent does public R&D leverage private capital investment? (executive summary)

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To what extent does public R&D leverage private capital investment?

PDF, 1.32 MB, 30 pages

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Technical annex

PDF, 1.05 MB, 36 pages

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Details

An exploratory report into the impact of public R&D on private capital investment in the UK and other OECD countries using different econometric techniques. The report offers insight into one of the mechanisms through which public R&D may drive productivity growth and suggests how improved data availability would allow for a more robust estimation of this relationship. As such, the findings should be interpreted as indicative rather than definitive.

Published 28 November 2025