Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/287451 
Year of Publication: 
2021
Citation: 
[Journal:] Eurasian Business Review [ISSN:] 2147-4281 [Volume:] 11 [Issue:] 4 [Publisher:] Springer International Publishing [Place:] Cham [Year:] 2021 [Pages:] 537-563
Publisher: 
Springer International Publishing, Cham
Abstract: 
Based on Schumpeterian theoretical considerations, this paper investigates the innovation behavior of firms during the severe economic crisis of the year 2008/2009. It focuses on transition countries of Central and Eastern Europe and Central Asia, which have completely restructured their innovation systems through the course of transition from planned to market economies a relatively short time ago. As a result of the crisis, we observe a strong decline of innovation activity in all transition economies. In line with the literature, there is, however, empirical evidence for both creative destruction as well as creative accumulation. This underlines two key findings: firstly, the universality and durability of Schumpeterian assumptions, and secondly, a call for anti-cyclical innovation policy.
Subjects: 
Innovation behavior
Economic downturn
Transition countries
JEL: 
O12
O14
O30
O31
O57
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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