This research by Frontier Economics shows that academic excellence is an important strength of the UK economy and that academic publishing plays a key role in the innovation cycle.
- Returns to innovation in the UK are 50-90%
- The UK has 4% of the world’s researchers but 16% of the most cited journal articles
- The UK generated £1.4bn in academic journal exports in 2017
- The UK spent £3bn on research and development in 2016, two-thirds of this in business
Academic excellence is an important strength of the UK economy. Innovation drives productivity, which is central to the UK’s economic performance. Academic and commercial research and development play a key role in driving innovation, and the UK has a world-leading science and research base. Academic publishing plays a role in the innovation cycle, but there is an evidence gap as to the nature and extent of its role; this is largely not articulated in existing research or government thinking.
This report sets out publishing’s contribution through the innovation cycle, by incorporating existing research and stakeholder views into a synthesized framework of the ways in which research supports innovation.