Innovation and technology absorption are now firmly recognised as one of the main sources of economic growth for emerging and advanced economies alike. That is why innovation is seen as a possible catalyst for revitalising post-transition economies hit hard by the recent financial and economic crisis. Is government intervention needed to foster innovation in post-transition economies? This is the central question to which this book responds. The answer is yes, but a qualified yes. Innovation activities are rife with market failures that tend to hold back private investment. And badly designed...
Innovation and technology absorption are now firmly recognised as one of the main sources of economic growth for emerging and advanced economies alike...