Are the BRIC countries overtaking intermediate countries in the race for international R&D? The case of Spain

The emergence of Brazil, Russia, India and China (BRIC) as international locations for foreign direct investment in R&D is a sign that multinationals are relocating their technological activities to new territories. This trend may weaken the supremacy of the developed countries until now considered leaders in innovation, and may mean the loss of the competitive advantages enjoyed by the countries considered intermediate innovators. This paper...