REGENTS REPORT
REGENTS REPORT
South Dakota Higher Education: Good Investment. Great Future. NO. 71, 05/02/97
Education, Research and the Economy
Many Economist’s Say Education and R&D Will Boost Economy
In a recent article in the Wall Street Journal, over 300 economists from the country’s leading schools of economics and business were surveyed. The results show that many top economists believe that the long-term health of the economy can be most affected by increased spending on education and research & development. In addition, many of the surveyed economists said that spending on education and research & development would increase incomes.
Education and the Economy
In a survey of leading economists earlier this year, over 40% reported that increased government spending on education and research & development would increase the long-term economic growth rate. The results are in the chart below.
What Can Government Do to Increase Economic Growth?
SOURCE: Wall Street Journal, 6 March 1997
550 copies of this document were produced by the South Dakota Board of Regents at an approximate cost of $0.03 per copy.
For more information contact Zachary Ainsworth at (605) 773-3455 or E-mail at zacha@bor.state.sd.us.
Education and Incomes
The Wall Street Journal survey also reported that over 30% of the nation’s leading economists felt that spending on education and research & development would enhance incomes of the poor.
What Can the Government Do to Increase Incomes of the Poor?
SOURCE: Wall Street Journal, 6 March 1997
How Does South Dakota Stand?
South Dakota ranks last in the region for research & development expenditures (from all sources) and second to last in the region for state expenditures (state appropriations) per full-time student.
Expenditures on R&D: FY94 (in millions) State Support Per FTE Student: FY96
SOURCE: National Science Foundation, 1996 SOURCE: Research Associates of Washington, 1996
E-mail us at: info@bor.state.sd.us
Investing in education and R&D has a positive impact on economic growth. It creates a more educated and skilled labor force, helps make business and industry competitive through innovative development, and benefits the public with research into quality of life issues such as medicine, agriculture, and transportation.