Crisis as a catalyst: the role of Schumpeterian innovation in the Lithuanian economy

Vincentas Giedraitis and RASTENIENo Ausra
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RASTENIENo Ausra: Vilnius University, Lithuania

Perspectives of Innovation in Economics and Business (PIEB), 2009, vol. 2, issue 2, 11-13

Abstract: What circumstances allow businesses to flourish in a stagnant world economy? We ask that question in our discussion of the uniquely favorable circumstances of the biotechnology sector in Lithuania. The purpose of this paper is to analyze Lithuania’s ability to expand its economy during a time of crisis, focusing on its unique ability to innovate in such sectors as biotechnology.

Keywords: Schumpeter; innovation; Kondratiev wave; biotechnology; business cluster theory (search for similar items in EconPapers)
JEL-codes: O31 O32 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (3)

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