TY  - JOUR
PY  - 2006//
TI  - The effect of defence R and D on military equipment quality
JO  - Defence and peace economics
A1  - Middleton, Andrew
A1  - Bowns, Steven
A1  - Hartley, Keith
A1  - Reid, John
SP  - 117
EP  - 139
VL  - 17
IS  - 2
N2  - 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 /> 
LA  - 
SN  - 1024-2694
UR  - http://dx.doi.org/10.1080/10242690600636869
ID  - ref1
ER  -