Gross domestic expenditures on research and development (GERD) represent a country's overall investment in research and development (R&D). The importance of R&D comes from the creation of new knowledge that can result in tangible outcomes, such as the production of new products, services and processes. R&D also enhances human capital, which represents the experience, knowledge, skills and education of the workforce. The enhancement of human capital, along with product, service and process innovation, can in turn increase productivity, thereby affecting firm competitiveness and economic growth needed to sustain and grow the population's quality of life.
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