A comparison of the Lithuanian and Russian biotechnology sectors

Vincentas Giedraitis and Alina Alekseyko

Perspectives of Innovations, Economics and Business (PIEB), 2012, vol. 10-11, issue 01-2, 18

Abstract: The goal of this paper is to compare the development of the Lithuanian and Russian biotechnology sectors. In case of Lithuania we tried to uncover what are the circumstances surrounding the favorable development of the biotechnology sectors in Lithuania. In case of Russian Federation we looked at encouraging as well as discouraging circumstances surrounding this segment of economy. Drawing upon Schumpeter’s ideas of innovation and Porter’s business cluster theory, we argue that Lithuania is “at the right place and the right time” to make it a regional leader in Baltic biotechnology. Russia, on the other hand, is in the process of developing biotech sector in order to at least to catch up with other countries (including Lithuania). It will take time and continuous governmental support for Russia before this sector starts contributing significantly to Russian economy.

Keywords: International; Development (search for similar items in EconPapers)
Date: 2012
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Journal Article: A comparison of the Lithuanian and Russian Biotechnology sectors (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jrpieb:128667

DOI: 10.22004/ag.econ.128667

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