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Ju-Ho Lee, Hyeok Jeong and Song Chang Hong

as England during the early stage of development. In contrast, in France, vocational education and training was provided by state schools and colleges not in the work places. French industrial enterprises did not show much interest in organizing vocational education and training and neither did the labor unions. This is not surprising because manufacturing industry was not the backbone of the French economy so the pressure for French enterprises to coordinate the industrial labor supply and demand was relatively weak compared to England. Hence, the French

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Ju-Ho Lee, Hyeok Jeong and Song Chang Hong

researchers in GRIs often move to positions in universities. Under these circumstances, it is difficult for the researchers in GRIs to actively engage in high-risk high-payoff research. As shown above, most indicators on research outcomes of GRIs, such as the rate of increase of the number of patents, technology transfer and royalty earnings, and number of papers, have been worsening compared to those of universities. Data on the labor market mobility of researchers at the doctorate level also reveals a problem of GRIs. The turnover rate of researchers in natural sciences