@article{ref1,
title="The effect of defence R and D on military equipment quality",
journal="Defence and peace economics",
year="2006",
author="Middleton, Andrew and Bowns, Steven and Hartley, Keith and Reid, John",
volume="17",
number="2",
pages="117-139",
abstract="Studies into the output of R&D generally take a qualitative view of case histories and do not provide a quantitative template for the analysis of 'cause and effect' suited to investment management. This study describes the development of a quantitative model of the relationship between defence R&D and equipment capability. Using open source data, the military equipment quality of 10 nations has been evaluated from 1971 to 2005 and time-dependent correlation with R&D investment back to 1951 analysed. We find that the nations studied 'got what they paid for', with their R&D expenditure positively correlated with equipment capability. The observed variability in equipment quality was most highly correlated with R&D spend 10-25 years earlier.<p />",
language="",
issn="1024-2694",
doi="10.1080/10242690600636869",
url="http://dx.doi.org/10.1080/10242690600636869"
}