Government Support to Stimulate Innovation and Entrepreneurship: Evidence from Croatia

Sabina Hodžić ()
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Sabina Hodžić: University of Rijeka, Opatija

Chapter Chapter 11 in Government Incentives for Innovation and Entrepreneurship, 2022, pp 241-256 from Springer

Abstract: Abstract Over the last decade, Europe has decided to make innovation one of its top priorities. New emerging technologies and an understanding of innovative processes encourage the greater competitiveness of companies. Moreover, technological progress and the process of research and development (R&D) for the purpose of innovation are influenced by the political and business environment. To stimulate such activities, governments use two main types of policies: direct and indirect financial support. Direct financial support includes fiscal (or tax) incentives and financial support, such as grants, loans, and subsidies, while indirect financial support includes state aid. Various national factors determine countries’ preferences regarding direct or indirect financial support or other instruments to encourage innovation and entrepreneurship. Countries like Croatia are facing transition and privatization problems. Therefore, investments and activities in R&D are extremely important. As a result, R&D will increase economic efficiency and long-term economic growth. The objective of this paper is to present the existing practice and analyze the effects of government support in the public and private sectors to stimulate innovation and entrepreneurship in Croatia. Moreover, the paper will provide proposals for improvements based on the analysis to remove obstacles to stimulating innovation and entrepreneurship.

Keywords: Innovation; Entrepreneurship; Direct financial support; Indirect financial support; Research and development; Fiscal policy; Croatia (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:innchp:978-3-031-10119-9_11

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DOI: 10.1007/978-3-031-10119-9_11

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