What make the impact of the financial crisis on innovation different across European countries?

Nguyet Thi Minh Nguyen, Chau Minh Duong

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    Abstract

    This paper finds that the financial crisis has tremendously impacted innovation in most European countries with Greece and Lithuania being the most affected while Finland and Austria have the least negative effect on their innovation activities. Greece and Lithuania’s national innovation systems share many common characteristics which are in sharp contrast to those shared by Finland and Austria, including most notably culture, quality of the higher education system, science and technological capability, and structure of the economy. Those identified distinctions along the main dimensions of the national innovation systems between the most and least affected countries could to a large extent explain why the effect of the financial crisis is heterogeneous across European countries.
    Original languageEnglish
    JournalInternational Journal of Innovation and Technology Management
    Early online date21 Feb 2019
    DOIs
    Publication statusEarly online - 21 Feb 2019

    Keywords

    • Innovation
    • financial crisis
    • European convergence
    • National system of innovation

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