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What Make the Impact of the Financial Crisis on Innovation Different Across European Countries?

Author

Listed:
  • Nguyet Thi Minh Nguyen

    (University of Portsmouth and Ho Chi Minh City Open University, Richmond Building, Portland St, Portsmouth PO1 3DE, UK)

  • Chau Minh Duong

    (#x2020;University of East London and Ho Chi Minh City Open University, University Way, London E16 2RD, UK)

Abstract

This paper finds that the financial crisis has tremendously impacted innovation in most European countries with Greece and Lithuania being the most affected while Finland and Austria have the least negative effect on their innovation activities. Greece and Lithuania’s national innovation systems share many common characteristics which are in sharp contrast to those shared by Finland and Austria, including most notably culture, quality of the higher education system, science and technological capability, and structure of the economy. Those identified distinctions along the main dimensions of the national innovation systems between the most and least affected countries could to a large extent explain why the effect of the financial crisis is heterogeneous across European countries.

Suggested Citation

  • Nguyet Thi Minh Nguyen & Chau Minh Duong, 2019. "What Make the Impact of the Financial Crisis on Innovation Different Across European Countries?," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 16(06), pages 1-29, October.
    • Handle: RePEc:wsi:ijitmx:v:16:y:2019:i:06:n:s021987701950041x
    DOI: 10.1142/S021987701950041X
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