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Regional Development vs. Innovation – The Main Engine of Economic Growth

Elena Mădălina Oprițescu ()
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Elena Mădălina Oprițescu: University of Craiova, Romania

Annals of the University of Petrosani, Economics, 2012, vol. 12, issue 2, 171-178

Abstract: Regional development and innovation are vital processes for social and economic growth of Europe. In the current period, deeply affected by the financial and economic crisis with major demographic changes, intense global competition, many budgetary restrictions, the competitiveness in Europe as well as its capacity to create new jobs, briefly, our life standard depends on its ability of innovation in products, services and commercial and social processes. This is the reason why innovation has been placed at the heart of Europe Strategy 2020. Furthermore, health, energy supply, major climate changes, environment with its limited resources, and the population aging are major social challenges that are approached by innovation. Starting from all these aspects, we are facing now the following questions: on what shall be based the next competitiveness in Europe? How will we generate a new growth and how will we re-launch Europe’s economy?

Keywords: economic growth; regional development; innovation; research and development (search for similar items in EconPapers)
JEL-codes: G01 R11 (search for similar items in EconPapers)
Date: 2012
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