UNDERSTANDING AND RESPONDING TO THE REGIONAL PERCEPTIONS OF THE GLOBAL ECONOMIC CRISIS: TOWARD THE 'LOW-TECH' KNOWLEDGE-BASED APPROACH

Niksa Alfirevic (), Jurica Pavicic () and Kresimir Znidar ()
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Niksa Alfirevic: University of Split
Jurica Pavicic: University of Zagreb
Kresimir Znidar: Valicon plc

No 2009/11, Papers from Osterreichish-Rumanischer Akademischer Verein

Abstract: In this paper, authors apply the 'sense-and-respond' model to understanding and modeling reactions of customers in the wider South-East European (SEE) region to the actual economic crisis. As results of the previous research indicate that the role of contemporary knowledgebased tools can serve as a complement, rather as a replacement for the 'traditional' research methodology, the role of universities and other knowledge providers to the business community in responding to the economic crisis is also critically examined. The paper suggests that development and the use of a modified 'sense-and-response' model at the industry/cluster level could assist all economic and social actors in relieving the consequences of the economic crisis/recession, as well as affirm the role of the university in the process.

Keywords: global economic crisis; knowledge based approach (search for similar items in EconPapers)
JEL-codes: G28 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cse
Date: 2009-06-01
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Persistent link: http://EconPapers.repec.org/RePEc:ris:sphedp:2009_011

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