The OECD has always been fairly critical of these goals, because we typically think that if you increase R and D intensity, it's the outcome of a process, basically. You're trying to increase innovation in your economy, and if you do that properly, use all the set instruments, hopefully you will increase research intensity. But if you set a goal and say you're going to reach this, often what happens is that people start thinking, well, how can we reach that goal? How many people do we need? What industries do we need to have increase R and D intensity? So I think it sometimes can have a strange impact on public policy and doesn't necessarily do the right things.
In Europe, at the moment, there is a big focus on research intensity in what's called the Lisbon Agenda. I think what we hear there is that what it has done is focus more of the attention on policy-makers and on innovation as an important policy goal. So that's the benefit it has had.
In terms of the goal as such, I think it is all about innovation, productivity, and economic growth. R and D is part of that, but it's just an input. It's one important element of it, but it's not the only thing you should focus on. I think it should be seen in context.