A comparison of the Lithuanian and Russian Biotechnology sectors
AbstractThe goal of this paper is to compare the development of the Lithuanian and Russian biotechnology sectors. In case of Lithuania we tried to uncover what are the circumstances surrounding the favorable development of the biotechnology sectors in Lithuania. In case of Russian Federation we looked at encouraging as well as discouraging circumstances surrounding this segment of economy. Drawing upon Schumpeter’s ideas of innovation and Porter’s business cluster theory, we argue that Lithuania is “at the right place and the right time” to make it a regional leader in Baltic biotechnology. Russia, on the other hand, is in the process of developing biotech sector in order to at least to catch up with other countries (including Lithuania). It will take time and continuous governmental support for Russia before this sector starts contributing significantly to Russian economy.
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Bibliographic InfoArticle provided by Prague Development Center in its journal Perspectives of Innovation in Economics and Business (PIEB).
Volume (Year): 11 (2012)
Issue (Month): 2 (May)
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Web page: http://academicpublishingplatforms.com/journal.php?journal=PIEB
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Biotechnology; innovation; Lithuania; Russia; Schumpeter; business cluster theory;
Find related papers by JEL classification:
- B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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