Wealth Creation from Science, Engineering and Technology

Practice area: Economics of Education | Education and Labour Markets
Client: N/A
Published: March, 2004
Keywords: modelling qualitative analysis quantitative analysis

The Engineering and Technology Board commissioned London Economics to undertake a study of the contribution of Science, Engineering and Technology (SET) to the wealth and quality of life in the United Kingdom. We use two approaches in estimating the contribution of SET in the economy: the contribution of those sectors of the economy that employed SET skills most intensively, and the direct output effect of all SET workers in the economy. We look at the contribution that SET made to the level of GDP, to the growth rate of GDP, and to the growth rate of labour productivity. In making the analysis, we compare the performance of the UK economy against the French, German, Japanese and US economies.

For a copy of the report, please contact London Economics.