The relative success of private funders and government funders in funding important science

Regression analysis is used to test the effects of funding source (and of various control variables) on the importance of the article, as measured by the number of citations that the article receives. Funding source is measured by the number of private and the number of government grants mentioned in the acknowledgements section. The importance of an article is measured by an “early” count (of citations through October 1992), and a “late” count (of citations through July 2002). Using either measure of article importance, the evidence suggests that private funders are more successful than the government at identifying important research. Jel classification D 780 . H 110 . O 310