In this global age, issues that developing countries confront are widening and increasingly complex due to intricate ways in which countries are interlinked. Due to such increased interdependency, catching up process of development countries is increasingly becoming susceptible to the external...

This paper presents a modified national accounting system tailored to a description of Research and Development (R&D)in the national economy. The main differences with the standard national accounts are some changes in the basic concepts (e.g. own-account production of R&D is considered as...