Structural Reforms for Growth and Cohesion
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Structural Reforms for Growth and Cohesion

Lessons and Challenges for CESEE Countries and a Modern Europe

Edited by Ewald Nowotny, Doris Ritzberger-Grünwald and Helene Schuberth

Effective and well-designed structural reforms are key to shaping Europe’s future in the context of the formidable challenges facing the continent today. This book examines the achievements and failures of past structural policies so that future ones can be adapted to address remaining and newly emerging challenges with greater success. Highlighting the social aspects and distributional effects of reforms that go beyond liberalization and deregulation, the book covers key issues facing future Europe, particularly those arising from technological innovation.
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Chapter 5: Innovation in the CESEE region: the role of business environment, financing and reforms

Helena Schweiger

Abstract

After exhausting the easy options, Central, Eastern and Southeastern European (CESEE) countries need to find new ways of improving productivity. This chapter focuses on innovation by private sector firms. They introduce new products and processes, but few innovate at the technological frontier, consistent with the countries being at various stages of the catching-up process and having different conditions for innovation-based growth. As such, they vary in their capacity to use and create knowledge, and they lag behind advanced economies particularly on the latter. One size does not fit all; the economic institutions and policies that support the growth of firms need to evolve as a country develops. They should, however, include greater trade integration with the rest of the world and a business environment that facilitates the efficient reallocation of resources.

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