Review on measuring the efficiency of research funds: challenges and implications for Kazakhstan

Abstract

This article seeks to discuss the main challenges in evaluating the efficiency of research spendings. Undoubtedly, one of the attributes of the increased attention to science and research activities is the proliferation of competitively allocated grants through various programs. There are also other aspects of this notion such as internationally diversified collaboration and the creation of multiple excellence centers. For these and other reasons, the implementation of traditional research funding methods are being transformed. This article provides a descriptive and analytical review of the research-funding instruments and presents their implications for developing countries by reviewing the literature on research funding. The analysis of key changes in governance and variety funding schemes that have already been implemented in developed countries may contribute to the emerging economies. In addition, the paper suggests recommendations for further research taking into account the indicators of current policy documents regarding the science development.