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A comparison of the Lithuanian and Russian Biotechnology sectors

Author

Listed:
  • Vincentas Giedraitis
  • Alina Alekseyko

Abstract

The 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.

Suggested Citation

  • Vincentas Giedraitis & Alina Alekseyko, 2012. "A comparison of the Lithuanian and Russian Biotechnology sectors," Perspectives of Innovation in Economics and Business (PIEB), Prague Development Center, vol. 11(2), pages 69-86, May.
  • Handle: RePEc:pdc:jrpieb:v:11:y:2012:i:2:p:69-86
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    More about this item

    Keywords

    Biotechnology; innovation; Lithuania; Russia; Schumpeter; business cluster theory;

    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, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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