Economic crisis

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Synopsis: Entrepreneurship: Economics: Economics: Economic crisis:

To face the economic crisis, cities and territories have to optimize their functioning and reduce their costs.

The economic crisis is affecting national and European funding; the applicants are encouraged to supplement two-thirds of the overall budget by private ones;

The current economic crisis has brought the interplay between innovation and jobs. Countries badly need innovation-driven productivity gains to grow out of debt,

and to comment on the influence of the recent economic crisis on them. It has a descriptive character, offering a general image of innovations in Romanian SMES, ending with a couple of advices for policy and organisational decision making.

The Romanian economic context economic crisis and effects Romania was and still is influenced by the economic evolutions at the world level.

The economic crisis that hit the world in 2007 was also felt by the Romanian economy,

In an unstable international economic context, the first obvious sign of the economic crisis were felt in Romania in 2009,

Due to the economic crisis the level of economic activity diminished in Romania in the last years and SMES had to adapt their level of business to the market conditions from both the internal and the external markets.

as in the last years, hit by the economic crisis many SMES went from the medium to small size due to the decrease in the number of employees.

However, starting 2007/2008 once the global economic crisis had begun the trend towards introducing new technologies decreased.

illustrating the negative influence of the economic crisis on innovative activities in Romanian SMES. Other negative tendencies include the doubling of the percentage of SMES that have not conducted innovative activities at all,

who are focused more on short term survival rather than innovating in a period of economic crisis. The level of investment in innovative activities illustrates the propensity towards implementing organizational changes that would sustain the future growth of the organization.

This trend is attributable also to the economic crisis. On overall, in the analyzed period, the percentage of SMES investing g highly in innovations is small

not only as fallout of the economic crisis, but also as potentially improved internal communication and business mechanisms within the company.

The economic crisis had a negative impact on them in the last few years. Investments for innovations decreased in time in SMES,

especially since the economic crisis reached Romania as well, which ended up in 2011 with almost half of SMES without any investible surplus at all for innovations. c) innovations decreased in the last few years in Romanian SMES.

as a country affected by the economic crisis much like the whole Europe and the practically the entire globe world, is seen also as having negatively impacted SMES'activity

since the start of the economic crisis with more than 35%of SMES not being involved at all in innovative activities after 2009. b) in spite of the generally decreasing trends in innovative activities in SMES,

b) as one way to better cope with the economic crisis, by assimilating cheaper ways of doing business.

and economic crisis since it is clear that policies enabling innovation in new and small businesses will have benefits not just for improving products

But state budgets are not keeping pace with the growing needs and expectations, particularly with the consequences of the global financial and economic crisis,

Furthermore, the process of creative destruction is pronounced most in periods of economic crisis and recovery, as the global economy is 1. INTRODUCTION SMES,

The current economic crisis has weakened the financial health of many small and medium-sized firms (SMES), especially in industries in which foreign,

The current economic crisis has weakened their financial health, especially in industries that are globalizing rapidly. These changing market conditions force them to look for new ways to differentiate their products

Ireland needs jobs and industry in order to grow its way out of our economic crisis. Make no mistake;

And we are setting a goal to bring employment to 2. 1 million by 2018 2 years earlier than our original target effectively restoring all jobs lost during the economic crisis.

Beyond this, we need to set an even more challenging goal for the country we want to replace all of the jobs lost during the economic crisis

The economic crisis has presented significant challenges across enterprise in Ireland, but for SMES in particular the issue of late payments is of critical concern.

tackling barriers to investment in high growth sectors is vital to support real and sustainable productivity growth leading to increased employment. 102 The ramping up of world trade as we emerge from the global economic crisis presents the potential for Ireland

In this context, it is worth mentioning that the onset of the global financial and economic crisis,

especially as a response to the global economic crisis. Because university-based research is the primary arena for the production of new knowledge,

The context of the first call in 2003 was a deep social and economic crisis at the national level,

Indeed, in the Eslife case especially, there appear to be fewer volunteers because of the economic crisis as people need to earn as much as they can at this time,

The economic crisis in 2007-8 made people look at the assets they owned and how to make these‘work harder'for them ICT connectivity makes the sharing economy possible on a scale never seen before 48 www. zipcar. com 49 www. airbnb. com 50 Given the above very general definition

the cultures of the economic crisis, Oxford university Press Chadwick, A. 2009a. Web 2. 0: New Challenges for the Study of E-Democracy in an Era of Informational Exuberance.

Although the capacity to fully implement this second initiative was conditioned inevitably by the current economic crisis and the subsequent budgetary restrictions,

The current situation of economic crisis and public spending restrictions requires appropriate, effective and efficient economic policy measures.

International competition and the economic crisis require companies to rethink their competitive strategies, particularly as regards technological innovation, internationalisation and adjustment towards activities and products with higher added value,

In the present context of severe economic crisis and high unemployment it is particularly important to improve employability as a way of working towards a change to Catalonia 2020 Strategy 23 a more balanced production model, based on productivity.

CH was affected seriously by the economic crisis that started in 2008. Over a period of two years, the number of unemployed doubled, reaching 120,500 in 2010.

Despite the economic crisis, healthcare budgets around the world continue to increase, driven by escalating demand, new clinical practices,

as well as the efforts to provide funding for digitisation in a time of economic crisis; -the valuable work done by Europeana,

The economic crisis had severe impact on the Hungarian economy. According to the forecasts of 1 KSH (2013:

the global financial and economic crisis also led to growing tax compliance risks in some economies.

Collecting Taxes during an Economic crisis: Challenges and Policy Options. IMF Staff Position Note 09/17, International monetary fund, WASHINGTON DC.

and enhance investments Finance is crucial to business success and an important factor for economic growth in Europe, especially in view of any past or future economic crisis.

Gallup 2. 2 The skills mismatch In addition to the protracted economic crisis from which many countries are still trying to recover,

since the economic crisis started. 26 2. 4 Regional trends: Developing countries The labour market in the developing world is highly diverse

and support. 2. 1. 1. European Social Fund Taking into account the financial and economic crisis

fuelled in social media. yy The economic crisis in Europe. has done the European union enough to solve the crisis?

The economic crisis has led to profound changes in the economic, political and social situation in the EU and in its Member States.

the other institutions and local politicians listen to the concerns and expectations of citizens on the financial and economic crisis, on citizens'rights and on the future of the Union by 2020.

Increased demand for collateral after the economic crisis restricts access to bank loans for entrepreneurs The European Small Business Finance Outlook 2013

and The Global Competitiveness Report 2013-2014 show that the financial and economic crisis continues to impact capital supply by influencing financing

Diedrichs, E. 2013), Do SMES lose their appetite for innovation during the economic crisis? Blog on Innovationmanagement. se. 16.

Since that period, partly because of the impact of the volatility of the Spanish economy and of the global economic crisis which hit Spain disproportionately,

Andalusia‘s European economic identity mirrored that of Spain just before the economic crisis as the nation began an impressive catch up race with its more prosperous European counterparts.

Labour utilisation and labour productivity The recent economic crisis has struck Spain severely, and Andalusia has been no exception.

During the recent economic crisis, Andalusian universities have seen enrolment increase by over two percent. In addition, the changing demographic structure in the region has affected labour market dynamics.

During economic crisis it is particularly important to stimulate business to create more jobs. RETA might help the regional government identify examples of programs from other countries (such as the East Bay Green Corridor Partnership described below) that link incentives to job creation,

it has certainly not been spared from the economic crisis. The construction and real estate sectors have been affected severely,

The recent economic crisis has made things worse, striking Andalusia harder than the rest of Spain, which has been in itself severely hit by recession. 14 Two different stages of development connote the recent economic history of Andalusia.

entrepreneurship has gained additional attention in the current economic crisis, as it is widely viewed as a key aspect of economic dynamism.

probably influenced by the peculiar environment of the economic crisis in which our research is inserted. It would be explained by a stochastic factor, namely,

that Spanish economy was affected more by the economic crisis from 2008 on, and it would be reflected in the growth rates presented by SMES.

is a large stochastic factor such as wars, terrorism, economic crisis and so on. Returning to our research questions and aims stated in Section 1,

) In the European business context, characterized by small domestic markets associated with the situational uncertainty and the current economic crisis,

and hardly any has considered systematically the impacts of the economic crisis, which further limits the accuracy of market forecasts.

Regarding the short-term perspectives, the financial markets and economic crisis has impacted severely business and consumer confidence worldwide.

This figure does not take into account the economic crisis from 2008/09 and is therefore likely to be overrated.

Tentative estimates for the total market of AMT arrive at global sales (prior to the economic crisis of 2009) of more than 150 billion.

With the economic crisis in Europe and the US, activities for incremental innovation are located increasingly close to the more dynamic Asian markets.

The underlying hypothesis is that periods of deep economic crisis have accelerated historically technological change, at the same time transforming the broader economy. 2 An evidence-based approach is important for going beyond simplistic concepts,

With the economic crisis, outward foreign direct investment flows of European firms have reached the level of FDI flows inside the European union In 2008,

even surpassing the US following the economic crisis. Technology production in the US, when measured in PCT patent applications,

was affected more heavily by the economic crisis, although there has also been a clear recovery trend since 2010.

despite some set-backs arising from the global economic crisis. Gartner predicted that the global outsourcing industry would see a 10-15 percent annual growth over five years up to 2013

The recent economic crisis, which finds part of its roots in financial innovation, reminds us of the importance of mobilising science,

The recent economic crisis has made the need for innovation to address social challenges even more apparent and acute.

However, the current economic crisis reminds us of the importance of mobilising STI not solely for generating economic benefits,

Although they had been recovering from the significant difficulties brought about by the global economic crisis, rising concerns about the sustainability of sovereign debt in Greece and a number of other European countries continue to raise questions about the viability of the euro.

Country Profile Highlights 2012 World Economic Forum Following a protracted economic crisis, Ukraine bounces back to 73rd position in this year's GCI.

The country was affected considerably by the global financial and economic crisis in recent years. GDP growth slowed down to 2. 3 percent annually in 2010

Indeed, the region has bounced back rapidly from the global economic crisis, when GDP growth dropped to 2. 8 percent in 2009.

innovation and entrepreneurship is at the heart of Europe 2020 and a crucial part of Europe's response to the economic crisis.

This issue is even more critical in the current economic crisis where public and private financial resources are scarce.

I of the SME Instrument 33 HORIZON 2020 WORK PROGRAMME 2014-2015 Innovation in SMES PART 7-Page 3 of 35 Introduction Exiting the economic crisis

http://tinyurl. com/cghra6v 2. More jobs, improved lives, better society EU Research and Innovation can help to exit the current economic crisis With an ageing population and strong competition from emerging economies,

and Innovat ion per formance in EU Member States and Associated countr ies Policies and reforms for research and innovation It is noticeable that R&d intensity increased during the first years of the economic crisis,

In Hungary total factor productivity grew steadily between 2000 and 2006 and then fell signifi cantly during the years of economic crisis.

the employment rate has been slightly falling, particularly with the economic crisis. However, Hungary's best rankings within the EU are for the contribution of high tech and medium tech commodities to the trade balance, sales of new to market and new to fi rm innovations as a percentage of turnover,

35 HORIZON 2020 WORK PROGRAMME 2014-2015 Innovation in SMES PART 7-Page 4 of 37 Introduction Exiting the economic crisis

However, the global economic crisis had a rapid and significant negative impact on innovation worldwide. OECD figures reveal7 that total OECD-area business expenditure on research and development (R&d) declined by a record 4. 5%in 2009;

The problem is particularly urgent in a period of economic crisis and shortage of bank loans to industry,

and economic crisis, including the current euro debt crisis, the concept of smart specialisation has found an echo in the OECD discussions on New Industrial Policy, New Sources of Growth and New Approaches to Economic Challenges.

Governments should ensure mechanisms through which they exchange information with The current economic crisis and more recently the euro debt crisis, has increased pressure on OECD governments to tackle longstanding structural problems in their economies.

THE ROLE OF SMART SPECIALISATION 30 OECD 2013 Summary The current economic crisis and more recently the euro debt crisis, has increased pressure on OECD governments to tackle longstanding structural problems in their economies.

and iii) Risk that the continuity of the economic crisis may pose to the economic sustainability of the Basque Innovation System.

Tambunan, T."The Impact of the 2008-2009 Global Economic crisis on a Developing Countrry's Economy:

in spite of the world economic crisis, most of the developed countries in the European union, as well as the EU itself, are endeavouring to increase ther&d support2.

The deepening of the global financial and economic crisis. The lack of needs and interests of economy

and concentrating a critical mass of knowledge effects of the economic crisis, a proposal had been made for the STI programme of measures for 2009-2010,

As Europe emerges from the economic crisis, it faces continued challenges but also opportunities. With its financial system stabilized, Europe's central economic challenge over the next quarter century will be to raise productivity growth rates.

But the European economic crisis has kept Euro-area investment on the decline while preoccupying policymakers with other issues.

impact of economic crisis not as severe as expected. Differences in innovation performance are becoming smaller again although at a modest rate.

which can deliver the overall objectives of solving the European economic crisis? 2. How can this be done in practice in the context of the framework of planning defined by the 6 steps outlined in the S3 Guide?

which can deliver the overall objectives of solving the European economic crisis? 2. How can this be done in practice in the context of the framework of planning defined by the 6 steps outlined in the S3 Guide?

which can deliver the overall objectives of solving the European economic crisis? 2. How can this be done in practice in the context of the framework of planning defined by the 6 steps outlined in the S3 Guide?

overcome the current economic crisis and grasp new opportunities. Innovating in education and training is a key priority in several flagship initiatives of the Europe 2020 strategy,

the European union faces the phenomenon of economic crisis within its Member States. The crisis is global

In addition the revised policy framework had to serve as an answer to the new challenges SMES had to deal with resulting from the economic crisis.

Investing in research, innovation and entrepreneurship is at the heart of Europe 2020 and a crucial part of Europe's response to the economic crisis.

The electronic commerce continues to increase significantly, even in the context of the actual economic crisis. In 2013,30%of people living in Europe use ecommerce service. ecommerce Definition ecommerce (Electronic commerce or EC) is the buying and selling of goods and services on the Internet, especially the World wide web.

Electronic commerce continues to grow substantially, even in the current economic crisis. It plays an important role in B2b exchanges as 27%of European enterprises purchase online and 13%sell online.

Chile's government received high marks from economists and its citizens for its countercyclical spending in 2009 (financed largely from saved copper revenues) to offset the effects of the global economic crisis (16.

The current economic crisis has weakened the financial health of many small and medium-sized firms (SMES), especially in industries in which foreign,

The current economic crisis has weakened their financial health, especially in industries that are globalizing rapidly. These changing market conditions force them to look for new ways to differentiate their products

The current economic crisis has weakened the financial health of many small and medium-sized firms (SMES), especially in industries in which foreign,

The current economic crisis has weakened their financial health, especially in industries that are globalizing rapidly. These changing market conditions force them to look for new ways to differentiate their products

The current economic crisis hit the US, home to many big young global leaders, worse than many European countries

114 In light of the economic crisis, Singaporean business associations started the Financial Facilitator Programme (FFP) in January 2009,

It is one of the few developed countries that could avoid a longer recession during the economic crisis,

is heavily suffering from the economic crisis and the 2011 Earthquake, and has dedicated no policies for high-growth SMES.

Entrepreneurship policies Recent activities to foster business start-ups In order to mitigate the negative effects of the economic crisis

However, figures for 2009 may indicate a decline caused by the worldwide economic crisis. Exhibit 5-4:

While the government has attributed the successful recovery from the word-wide economic crisis to the numerous opportunities SMES have been provided with,

Financial Facilitator Programme In light of the economic crisis Singaporean business associations started the Financial Facilitator Programme (FFP) in January 2009.

The current economic crisis hit the US, home to many big young global leaders, worse than many European countries

114 In light of the economic crisis, Singaporean business associations started the Financial Facilitator Programme (FFP) in January 2009,

It is one of the few developed countries that could avoid a longer recession during the economic crisis,

is heavily suffering from the economic crisis and the 2011 Earthquake, and has dedicated no policies for high-growth SMES.

Entrepreneurship policies Recent activities to foster business start-ups In order to mitigate the negative effects of the economic crisis

However, figures for 2009 may indicate a decline caused by the worldwide economic crisis. Exhibit 5-4:

While the government has attributed the successful recovery from the word-wide economic crisis to the numerous opportunities SMES have been provided with,

Financial Facilitator Programme In light of the economic crisis Singaporean business associations started the Financial Facilitator Programme (FFP) in January 2009.

yet the economic crisis forced most companies to cut back their spending on innovative activities. The JRC Programme provides an entry point for building synergies with university research units

Summary of OECD Roundtable on responding to the economic crisis: Fostering industry restructuring and renewal, Paris 1 april.

POLICY RESPONSES TO THE ECONOMIC CRISIS: Investing in innovation for long term growth. June 2009. Report proceeded by the Innovation Strategy Portal www. oecd. org/innovation/strategy/portal. 34 useful for science based innovations

to overcome the current economic crisis we need to create a smarter, greener economy, where our prosperity will come from research and innovation.

or regional R&i systems. 2. National Context for Smart Specialisation 2. 1 Economic Context Ireland has been left with significant challenges following the economic crisis.

or regional R&i systems. 2. National Context for Smart Specialisation 2. 1 Economic Context Ireland has been left with significant challenges following the economic crisis.

in R&d funds and investment due to the global economic crisis Cuts in Education/training funds/investment due to the global economic crisis Emigration of talented and highly qualified personnel International and National

innovation and entrepreneurship is at the heart of Europe 2020 and a crucial part of Europe's response to the economic crisis.

This issue is even more critical in the current economic crisis where public and private financial resources are scarce.

After a consistent, threefold increase in public R&d financing in the years immediately preceding the economic crisis,

However, funds were slashed soon after the onset of the economic crisis. Around a third of the projected RDI budget was disbursed actually.

The rates of activity for the construction sector have decreased steadily since 2008 as a result of the economic crisis.

Volume of investment can reach a reduction because of the current economic crisis; The lack of a common approach at government level for implementing projects,

Parliament of Romania Chamber of deputies COMMITTEE FOR INFORMATION TECHNOLOGY AND COMMUNICATIONS Third Parliamentary Forum on Shaping the Information Society ICT and the Global Economic crisis:

Current Situation and Future Perspectives 3-5 may 2010 Geneva, Switzerland 1. The global economic crisis and ICT The financial crisis has affected not only financial institutions but also governments at all levels, companies and consumers throughout the world.

In these challenging times of global economic crisis, the extraordinary capacity of ICT to drive growth

and a way to exceed economic crisis by creating jobs. Although the broadband infrastructure in Romania is developed well in major cities due to private investment,

unemployment rate has been affected by the economic crisis, with a rate of 19.7%in 2012. Although it is a negative indicator, the value remains 5%below the national average,

but during the past 3 years the economic crisis had a dramatic impact on this indicator,

and economic crisis since it is clear that policies enabling innovation in new and small businesses will have benefits not just for improving products

But state budgets are not keeping pace with the growing needs and expectations, particularly with the consequences of the global financial and economic crisis,

Furthermore, the process of creative destruction is pronounced most in periods of economic crisis and recovery, as the global economy is 1. INTRODUCTION SMES,

Both programmes have contributed to enhancing the resilience of Indonesia's SMES, faced with the economic crisis of 1998 and the financial crises of 2009.

and change most especially in a time of economic crisis and a renewed or new approach, not only to the new social challenges but also to the old ones that have not yet been met successfully.

Social innovation The financial and economic crisis makes creativity and innovation in general and social innovation in particular even more important to foster sustainable growth, secure jobs and boost competitiveness.

in order to increase growth in some priority areas as a response to the economic crisis. EUR 35 billion will be invested by the state

The economic crisis hit vulnerable people particularly hard. Unemployment is acute among young people. Over one in two people aged 15 24 are out of work in Spain and Greece;

Graphic Footprints Introd uction 9 As such, before and beyond the economic crisis, there are a broad range of social, economic, environmental and demographic pressures

It has also been noted that social innovation is often filling gaps that were deepened as a result of austerity politics in the aftermath of the economic crisis of 2007/2008.

The Cultures of the Economic crisis. Oxford university Press: Oxford, UK. 2. TEPSIE,‘Doing Social Innovation: A Guide for Practitioners'.

The Case of the Economic crisis and the New Economy, TRANSIT working paper, TRANSIT: EU SSH. 2013.3.2-1 Grant agreement no:

social innovation 100 7. Conclusions and recommendations 108 5 1. Introduction The financial and economic crisis makes creativity

it has suffered the worst financial and economic crisis in decades with unemployment set to rise to double digit figures by 2010.

and economic crisis makes social innovation more important than ever, both as a component of economic strategies to build Europe's relative position in growing fields such as healthcare and environmental services,

and economic crisis together with these social challenges forms the backdrop to current discussions about building on the achievements of the Lisbon Strategy and developing a new strategy for Europe Europe 2020.

Europe strongly suffered from the worst economic crisis since decades. After the first four years of the strategy the need for more growth and jobs remains undiminished.

Increased demand for collateral after the economic crisis restricts access to bank loans for entrepreneurs The European Small Business Finance Outlook 2013

and The Global Competitiveness Report 2013-2014 show that the financial and economic crisis continues to impact capital supply by influencing financing

Diedrichs, E. 2013), Do SMES lose their appetite for innovation during the economic crisis? Blog on Innovationmanagement. se. 16.

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