Innovation During and Beyond the Economic Crisis

Ayşe Saime Döner ()
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Ayşe Saime Döner: Beykent University

A chapter in Global Financial Crisis and Its Ramifications on Capital Markets, 2017, pp 643-659 from Springer

Abstract: Abstract Originated in the financial sector, the 2008 economic crisis hit severely the financial side of the economy, but also had drastic impacts on the real sector. The companies were seriously affected by the fall in demand and trade on the one hand, and by the difficulties in credit conditions and access to finance on the other hand. As a result, the economic crisis caused a decrease in companies’ revenues and future investments, which hit directly their R&D and innovation efforts. Nevertheless, as Filippetti and Archibugi (2011) make the remark, the impact of this crisis on innovation didn’t spur enough the interest of economists working in the field of innovation studies. Hence, very few studies analyze the relationship between the economic crisis and innovation (Filippetti and Archibugi 2011; Paunov 2012; Archibugi et al. 2013a, b; Izsak et al. 2013; Hausman and Johnston 2014; Makkonen et al. 2014; Amore 2015). Yet, the relationship between innovation and economic development has been known and discussed since Schumpeter’s (1939) seminal work highlighting innovation as a fundamental factor in business cycles.

Keywords: Innovation Performance; Patent Application; Innovation Activity; Innovative Activity; Innovation Effort (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-319-47021-4_43

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DOI: 10.1007/978-3-319-47021-4_43

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