University research evaluation and funding: An international comparison

Many countries have introduced evaluations of university research, reflecting global demands for greater accountability. This paper compares methods of evaluation used across twelve countries in Europe and the Asia-Pacific region. On the basis of this comparison, and focusing in particular on Britain, we examine the advantages and disadvantages of performance-based funding in comparison with other approaches to funding. Our analysis suggests that, while initial benefits may outweigh the costs, over time such a system seems to produce diminishing returns. This raises important questions about its continued use.