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Investment in innovation for European recovery: a public policy priority

Daniele Archibugi, Andrea Filippetti () and Marion Frenz
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Daniele Archibugi: Birkbeck, University of London, UK
Marion Frenz: Department of Management, Birkbeck, University of London

No 16, Management Working Papers from Birkbeck Department of Management

Abstract: The 2008 crisis had severe consequences in Europe, especially for investment, including investments in R&D and innovation. We argue that there are large scientific and technological opportunities that could pave the way to a new stage of social and economic development, but they need appropriate public policies to be seized. A European recovery can come from developing and exploiting these opportunities, but to do so requires a large governmental programme of investm ent in R&D and innovation that attracts businesses to invest further. The European Union could play a crucial role in this process by pursuing the ambitious goals outlined by the European Council in the Lisbon (2000) and Barcelona (2002) summits, which unf ortunately were abandoned as a consequence of the economic crisis and the austerity measures. Powerful instruments, such as the Juncker investment plan, and the proposed 2021 - 2027 Framework Programme Horizon Europe, can provide the right kind of stimulus. A re - organization of the governance of the European innovation and competence building through a proper Council at the EU level is essential.

Pages: 25 pages
Date: 2018-09, Revised 2021-02
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Published on Birkbeck Deparment of Management web site, September 2018, pages 1-25

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