Since 1986, when the UK Research Assessment Exercise was launched, at least 14 countries have implemented systems to distribute research funding to universities based on evaluation of research output. These have been motivated by the increasing importance of research to economic growth, as well as broader interests in improving public management. [School of Public Policy professor and chair, Diana Hicks] analyzes the systems’ rationale, design, and impact. There is a range of assessments (e.g., citation analysis, peer review), across a range of scales (e.g., university, department, individual), that affect a range of funding outcomes (e.g., 25% of UK research support, 2% of Italian block grants). Although distribution of research funding is the putative purpose, direct financial impacts appear small compared to incentives to compete for public prestige. Some values widely associated with universities, such as diversity and equity, may suffer under systems focused solely on excellence and international competition. Though touted as critical to economic success, the systems do not appear to be well designed to meet that goal.  Hicks, D., Performance-based university research funding systems. Res. Policy (2012), 41, 251-261 doi:10.1016/j.respol.2011.09.007

 – Source: Science, Editor’s Choice, March 6, 2012