Cohesion and Excellence from a Schumpeterian Perspective
Edited by Slavo Radosevic and Anna Kaderabkova
Chapter 2: Challenges of Converging Innovation Policies in a Multi-Tier Europe: A Neo-Schumpeterian Perspective
2. Challenges of converging innovation policies in a multi-tier Europe: a neo-Schumpeterian perspective1 Slavo Radosevic 2.1 INTRODUCTION This chapter provides an introduction to and context for the other contributions in this volume. It discusses innovation and innovation policy in Central and East European (CEE) countries within the enlarged European Union (EU) and draws comparisons with the developed EU. It outlines the rationale for developing a new policy approach that takes account of technological and developmental differences across countries. It discusses the major issues in the approach to innovation policy of a specific country or group of countries. From the end of the 1990s to the time of the global financial crisis (GFC) in 2008–09, growth in the CEE EU new member states (NMS) has been significantly above the rates of growth in the EU15.2 This trend, coupled with the inflow of EU Structural Funds (SF), has led to a widespread belief that these countries are established on a path of catch-up and fast convergence to EU15 income levels. However, the GFC has left the NMS, and especially those with significant macroeconomic imbalances, vulnerable to the vagaries of the financial markets and has exposed the less than firm foundations of their growth, showing them to be inadequate to sustain growth in the longer term (World Bank, 2010). Since the 2004 and 2006 accessions to the EU, growth in the CEE countries has been based on imported capital equipment and transition related productivity improvements, achieved through organizational changes and reallocation of...
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