Research and Development in Electronic Capital Goods

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Abstract
The world electronics industry has been one of the fastest growing in the past half century, with a compound rate of growth of over 10 per cent per annum at constant prices since 1935.[1] Within the total, the output of ‘electronic consumer goods’ is no longer rising particularly fast in most advanced countries ; but the output of ‘electronic capital goods’ has been increasing at over 15 per cent a year (in current prices) over the past six yeats, and will probably continue to rise rapidly according to most forward estimates.121 This article is mainly concerned with capital goods ; but for some purposes it is necessary to consider the industry as a whole. Many firms produce both consumer and capital goods, because they use similar components and techniques and draw on a common fund of skilled manpower and research knowledge.

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