Can basic research prevent economic stagnation?

Andreas Schibany and Christian Reiner

Foresight-Russia Форсайт, 2014, vol. 8, issue 4 (eng), 54-63

Abstract: Decreasing performance in innovation may lead to re-enforcement of economic stagnation in developed countries. Well-balanced development of projects aimed at finding answers to the ‘grand challenges’, in parallel to curiosity-driven research, could make notable contribution in preventing such a negative trend. Evidence from Austria shows the contradictions intrinsic to well-established innovation systems. The authors recommend re-adjusting mechanisms that foster career development in academia and creating organizations with sufficient administrative capacities and autonomy to attract qualified staff and funding.

Keywords: ‘European; paradox’ (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:scn:013126:15723367

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