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    The impact of the economic crisis on innovation: evidence from Europe

    Archibugi, Daniele and Filippetti, Andrea and Frenz, Marion (2012) The impact of the economic crisis on innovation: evidence from Europe. Working Paper. Birkbeck College, University of London, London, UK.

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    Abstract

    Economic crises cause companies to reduce their investment, including investment in innovation where returns are uncertain and long-term. This has been confirmed by the 2008 financial crisis, which has substantially reduced the willingness of firms to invest in innovation. However, the reduction in investment has not been uniform across companies and a few even increased their innovation expenditures. Through the analysis of a fresh European Survey, this paper compares drivers of innovation investment before, during and following on from the crisis, applying the Schumpeterian hypotheses of creative destruction and technological accumulation. Before the crisis, incumbent enterprises are more likely to expand their innovation investment, while after the crisis a few, small enterprises and new entrants are ready to “swim against the stream” by expanding their innovative related expenditures.

    Metadata

    Item Type: Monograph (Working Paper)
    Additional Information: CIMR Research Working Paper Series, Working Paper No. 5 ISSN: 2052-062X
    Keyword(s) / Subject(s): Economic crisis, innovation investment, Innobarometer
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Management
    Research Centre: Innovation Management Research, Birkbeck Centre for
    Depositing User: Administrator
    Date Deposited: 15 Oct 2013 13:40
    Last Modified: 23 Mar 2017 10:22
    URI: http://eprints.bbk.ac.uk/id/eprint/8468

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