Abstract. This study examines the impact of research and development (R&D) investment on economic growth, distinguishing between private and government contributions. Using data from developed and emerging economies, including the United States, China, Japan, South Korea, Turkey, the United Kingdon, and the European Union, the study analyzes the correlation between R&D spending and GDP growth. Findings indicate that private R&D investments have a strong and more direct effect on economic expansion, particularly in technologically advanced economies like China, South Korea and the United States. These countries leverage private sector innovation to drive productivity and competitiveness. The study underscores the necessity of a balanced R&D strategy, integrating private sector agility with government-led foundational research. Countries that successfully foster collaboration between these sectors achieve sustained economic growth, reinforcing the pivotal role of R&D in national and global competitiveness. The findings provide key insights for policymakers to optimize R&D investments for sustainable economic growth.

Keywords: innovation, economic growth, R&D investment, public-private collaboration, technological development.