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.
