Innovation is the main driver for economic growth in the EU, but innovation performances still need to be improved.
while focusing scarce human and financial resources in a few globally competitive areas in order to boost economic growth and prosperity.
ensuring that there will be economic growth. The entrepreneurial knowledge is used to define each RIS3 and it is known as‘the entrepreneurial process of discovery18.
Increased economic growth Better products and services Initiatives towards solving societal challenges In 2009, public procurements accounted for about 19%of the European union's GDP,
'and the‘innovation capacity of SMES'are crucial for fostering economic growth within local companies allowing for a better'entrepreneurial process of discovery
i) the underlying role of scientific, technological and economic specialisation in the development of comparative advantage and more broadly in driving economic growth;
Structural change, not just the accumulation of capital, is a driver of economic growth. As such smart specialisation aims to accelerate structural change by encouraging the transformation of economic activities from a structural perspective.
but especially R&d and innovation investment policies can influence economic, scientific and technological specialisation of a region and consequently its productivity, competitiveness and economic growth path.
and thus a possible way to help advanced OECD economies as well as emerging economies-restart economic growth by leveraging innovation led/knowledge-based investments in regions.
and are grounded in the classical economic theories of economic growth (e g. the theory of the division of labour by Adam smith) and notably trade specialisation.
but especially R&d and innovation investment policies can influence economic, scientific and technological specialisation within a regional policy framework and through this mechanism, productivity, competitiveness and economic growth.
in order to stimulate competitiveness, productivity and economic growth through entrepreneurial activities. Smart specialisation strategies can be viewed as a mix of modern industrial policy with innovation policies that emphasise a bottom-up approach (the entrepreneurial discovery),
Prevention of emerging trends for regional economic growth. Coordination of investments and decisions of different entrepreneurs.
New tools are required to help policy makers to assess the potential of emerging activities for future economic growth,
of Economics, Volume 106, Issue 1, 103-121 OECD 2013 53 Greenhalgh, C. and M. Rogers (2010),‘Innovation, Intellectual Property and Economic growth'Princeton university
as well as all actors, is to estimate the likelihood of future economic growth of such an experimental domain.
A skilled workforce is a fundamental aspect of driving economic growth, especially in high tech manufacturing or research.
economic growth, infrastructure, natural resources and new materials. The second regional foresight project (The Technology Perspective Kraków-Malopolska 202035) was carried out in 2010-2011.
and future economic growth will likely be based. Whether a state or region focuses on modernisation of existing industries or on building up of an emerging growth market,
According to Terziovski (2010) Small and Medium enterprises (SMES) in the manufacturing sector make a significant contribution to economic growth,
The importance of innovation as a key factor of economic growth and development was highlighted also by Joseph Schumpeter in his Theory of economic development (1912) who considered the entrepreneur s task
Linking Entrepreneurship and Economic growth, Small Business Economics, August 13 (1): 27-55 World bank (2009. Innovative Firms or Innovative Owners?
it is still responsible for 25%of our economic growth 16. The enormous changes and issues this trend can bring about can be illustrated by the emergence of
The exceptionally lengthy period of high economic growth in the last decade of the 20th century in the USA
LITERATURE REVIEW A. SMES Interest in SMES is concerned primarily with their role in stimulating economic growth 3. However
and their ability to innovate has been viewed as a critical element in economic growth and renewal (Wolff & Pett, 2006;
development via the three pillars of economic growth, ecological balance and social progress. Our members are drawn from more than 30 countries and 20 major industrial sectors.
Knowledge creation, entrepreneurship, and economic growth: A historical review. Industrial and Corporate Change. Chaminade, C, . and J. Vang. 2008.
It underpins employment, economic growth and global exports, while providing citizens with resources and mobility that are essential to the quality of life.
Effectively, there are two main approaches to fostering economic growth and enhancing prosperity: increasing resources such as capital and labour;
which contribute to fostering economic growth in more significant and permanent ways than simply increasing resources.
and spread information technologies have also been able to achieve rapid economic growth. Consequently, the research & development & innovation strategy does
and economic growth based on RDI cannot be expected without it. The stability of public funding of R&d:
The expansion of the‘green'economy plays an essential role regarding environmental sustainability longside economic growth.
Since public services are labour-intensive and their productivity growth slower than that of processing industries30, the focused innovative development of the public sector results in economic growth and welfare effects.
The driving forces of economic growth: panel data evidence for the OECD countries. OECD Economic Studies No. 33,2001/II. http://www. oecd. org/economy/productivityandlongtermgrowth/18450995. pdf Baumol, William (2005:
How important is business R&d for economic growth and should the government subsidise it? The Institute for Fiscal Studies, 2000 http://www. ifs. org. uk/bns/bn12. pdf Guy, K and C. Nauwelaers (2003), Benchmarking STI Policies in Europe:
is the sine qua non of economic growth. 18 To see why, consider that if the EU-15 nations had maintained the productivity growth rate they enjoyed from 1980 to 1995 through to 2013,
Second, techno-pessimist accounts frequently conflate economic growth with productivity. The two are related but distinct, because growth can occur simply by adding more workers.
Productivity and Economic growth in Europe: A Comparative Industry Perspective, International Productivity Monitor 21 (2011): 3 23.2.
Productivity and Economic growth in Europe. Assuming 2. 8 percent productivity growth. 20. The Conference Board, Total Economy Database.
A Study of Technological Diffusion and Economic growth under Network theory, Telecommunications Policy (2014), doi: 10.1016/j. telpol. 2013.12.003.75.
Productivity and Economic growth in Europe. 100. Ibid. 24.101. Matilde Mas, ICT and Productivity Growth in Advanced Economies (working paper, University of Valencia and Ivie, 2010). 102.
and Economic growth by Expanding the ITA (Information technology and Innovation Foundation, March 2012), http://www. itif. org/publications/boosting-exports-jobs-and-economic-growth-expanding-ita. 123.
Bradford Delong and Lawrence Summers, Equipment Investment and Economic growth: How Strong is the Nexus? Brookings Papers on Economic activity 23 (1992;
keynote address to the fifth annual conference of the Central bank of Chile The Challenges of Economic growth, Santiago, Chile, November 29-30,2001). 168.
Ben Miller is an economic growth policy analyst at the Information technology and Innovation Foundation. He has a Master's degree in International Development and Economics from Johns Hopkins School of Advanced International Studies.
and is linked positively with economic growth. Eurostat Eurostat 1. 2. 1 International scientific co-publications per million population Number of scientific publications with at least one co-author based abroad (where abroad is non-EU for the EU27) Total
) and the higher education sector (HERD) Gross domestic product R&d expenditure represents one of the major drivers of economic growth in a knowledgebased economy.
and is linked positively with economic growth. Data source: Eurostat 1. 2. 1 International scientific co-publications as%of total scientific publications of the country Numerator:
R&d expenditure represents one of the major drivers of economic growth in a knowledge-based economy. As such, trends in the R&d expenditure indicator provide key indications of the future competitiveness
This is because medium and high technology products are key drivers for economic growth, productivity and welfare, and are generally a source of high value added and well-paid employment.
and is linked positively with economic growth. Almost 80%of EU27 youth has attained at least upper secondary education. But in some countries these shares are still too low, in particular in Iceland
Iceland R&d expenditure represents one of the major drivers of economic growth in a knowledge-based economy.
This is because medium and high technology products are key drivers for economic growth productivity and welfare, and are generally a source of high value added and well-paid employment.
economic growth in the region is already being driven by a robotics industry supplying industrial and surveillance robots usable by small-and medium-sized businesses.
giving rise to a rethinking of regional policies and regional funding of (ICT-related) innovation,(ICT) technology transfer and more generally technology-driven economic growth.
and economic growth is acknowledged widely, this link is difficult to quantify because the benefits from, or output of R&d (a critical component of the link) are measured not easily.
and services make a significant contribution to the economic growth of advanced economies. Its significance was highlighted both in the EU Lisbon Objectives and in the Europe 2020 Strategy,
In most OECD member countries under review, ICT investments generate more economic growth than investments made by all other sectors combined.
Based on 2000-2009 data, the OECD also evaluated the contribution of ICT investments to economic growth.
In the United kingdom, the US, Germany, Japan, Denmark, New zealand, Belgium, The netherlands, Sweden, Switzerland, Austria and Finland ICT investments made a bigger contribution to economic growth than investments in all other
the topic itself definitely merits further investigation. 1. 4 Value added The ICT sector is seen as an engine of global economic growth,
ICT investments make a greater contribution to economic growth than the investments of all other sectors combined.
he found that an increase in broadband penetration of 10%yields only a 0. 25%increase in economic growth. 19 A study by Micus Management Consulting
Broadband Infrastructure and Economic growth; CESIFO Working paper no. 2861; Munich; December 19 See Koutroumpis, P. 2009.
Broadband Infrastructure and Economic growth; CESIFO Working paper no. 2861, Munich, December. Elixmann, D.,Ilic, D.,Neumann, K.-H. and T. Plückebaum (2008:
Innovation drives economic growth and is critical to our future prosperity. The development of this Strategy at a regional level is opportune as it will take advantage of the reform of both regional and local government.
Oliver Garry Cathaoirleach of the Midwest Regional Authority 4 Executive Summary Introduction Research and innovation (R&i) are the cornerstones of national and regional economic growth.
cluster development and open innovation all have the potential to make a signifi cant contribution to economic growth in the Midwest.
Research and Innovation (R&i) already plays a strong role in the progression of economic growth in the Midwest.
Ireland and the Midwest Region to enter into a period of strong and sustained economic growth,
Horizon 2020 is a means to drive economic growth and create jobs through investment in research.
From an economic growth perspective the aim is to ensure that the City and County focus on market sectors where a competitive edge exists,
national and regional level which aim to promote economic growth through research and innovation investment and growth are testament to the importance of R&i development to our national and regional economic future.
as productivity will be a key driver of future economic growth. BORDER DUBLIN MIDEAST SOUTHWEST MIDWEST SOUTHEAST WEST MIDLAND 9, 109m 6. 5%11, 381m 8. 1%59, 387m 42.1%5
and the facilitation of this evolution is central to sustainable economic growth in any region. Research and Innovation are core components
and expanded in order to enable economic growth in the Midwest Region. The evidence available indicates that there are strong R&i structures in the Region at present, with a skilled workforce and a range of support options.
This base is a significant asset in terms to the potential for future economic growth and the progression of employment-related development in the Region.
Through the provision of funding, training & support, infrastructure & accommodation and the development of linkages and networks, EI support sustainable economic growth, regional development and secure employment. 4. 4. 2
and open innovation all have the potential to make a significant contribution to economic growth in the Midwest.
This testifies to the growing importance of the telecommunication sector in the economic growth of the developing world.
economic growth, environmental balance and social inclusion. At its meeting in May 2014, the UN Commission on Science and Technology for Development (CSTD),
Economic growth and development will remain below potential if economies are not capable of exploiting new technologies
Czernich, N.,Falck, O.,Kretschmer, T. and Woessmann, L. 2009), Broadband Infrastructure and Economic growth, http://papers. ssrn. com/sol3/papers. cfm?
and economic growth continues. However, policy and regulatory action will be necessary to step up a gear in broadband adoption,
to contribute to the economic growth and increase competitiveness in Romania, both by direct action and support of development of effective Romanian ICT and through indirect actions such as increasing efficiency and reducing public sector costs in Romania,
sustainable economic growth and to promote social inclusion, the European union has prepared the Digital Agenda for Europe 2020,
and has defined 4 major fields of action that will be pursued as Romania's vision of the ambitious program that will drive the economic growth and increased competitiveness,
for covering the underpinning principle stated above in pursuit of sustainable long-term economic growth. These 4 fields of action are summarized as follows:
Research & development and Innovation in ICT builds on the comparative advantages of regional Romania and supports economic growth in the private sector.
which provides 3. 1. Support ecommerce for achieving economic growth and development at the European digital single market
and transparency of the public administration and improving the business environment represents short term strategic priorities aimed at contributing to the effective approach of the major obstacles regarding the economic growth
economic growth and individual fulfillment. 3. 3. 3 National context ICT in Culture Approach in Romania Based on the objectives of the European union, Romania has set the following digital targets for 2020:
museums and audiovisual archives available online is a win-win for culture, economic growth and individual fulfillment.
or lack the necessary digital skills. 3. 4. 2 European context Social inclusion and fight against poverty are part of the European union's objectives in terms of economic growth and employment.
which are intended to make the economic growth more dynamic, expand employment and reduce the national debt to a sustainable level.
which is the local agency for employment and economic growth for the area of Barcelona35. Growing a Digital Social Innovation Ecosystem for Europe 69 Some other examples come from private organisations.
It accelerates the contribution of ICTS to economic growth, facilitates innovation, and promotes efficiency, network effects and positive externalities.
as one of the measures which can boost economic growth and drive forward the Internal Market of the 21st century.
PDF 125 Communication from the Commission to the European parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, A Single Market for Intellectual Property Rightsboosting creativity and innovation to provide economic growth
Boosting creativity and innovation to provide economic growth high quality jobs and first class products and services in Europe, COM (2011) 287 final, 24.05.2011, available at:
The main part of the debate on innovation impact on economic growth centres around technology and infrastructures 12, is failing to appreciate the underlying institutional, capability and learning-related aspects.
12) Ulku, Hulya (2004),‘R & D, Innovation, and Economic growth: An Empirical Analysis',IMF Working Paper WP/04/185.13) Galli, R. and Teubal M.,(1997),‘Paradigmatic Shifts in National Innovation Systems',Edquist C
which act as venture capital to spur innovation, entrepreneurship and economic growth. According to the Thomson One database there were 26 university funds established between 1973 and 2010 24.
This will bring together more green energy with economic growth, and with projects that pay for themselves. The Green Deal helps to overcome obstacles (such as confusion about licences,
'Crowd-based assets are a new source of innovation and economic growth. Many organisations are aware of this,
and therefore in contrast with our economic growth in western countries. It seems to occur that our smart phones are literally becoming the key not only to our virtual world,
and to boost economic growth by about 0. 5%and 0. 75 1%of its GDP in 2008 09 and 2009 10, respectively (9, 10).
and economic growth, allowing deficit spending only during periods of low copper prices and growth. As of September 2008, those sovereign wealth funds kept mostly outside the country
retail sales and economic growth. With strong prudential and corporate reporting framework, Australia coped well with the financial turmoil,
and to boost economic growth by about 0. 5%and 0. 75 1%of its GDP in 2008 09 and 2009 10,
and economic growth and social enrichment in the future, as discussed next. Economies and Societies as a Nexus of Ecosystems of Capabilities Viewing markets as a nexus of differences implies viewing economies and societies as a nexus of ecosystems of capabilities centred on productive and meaningful human experiences
'Introduction The crowd-based asset is the new source of innovation and economic growth. Organisations that embrace this new industrial paradigm will prosper.
Crowd assets are the new source of innovation and economic growth. As the digital world witnesses both declining transaction costs and the emergence of the so called‘grown up digital'demographic as active agents in a commercial setting new models of business,
and thus for economic growth. 13 3. 1 Type of industry SMES can be divided in different ways
-Driven New Ventures in Economic growth: A Cross-country Analysis H200720 21-12-2007 Entrepreneurial exit in real and imagined markets H200719 21-12-2007 Modelling latent and actual entrepreneurship H200718
Ambitious Nascent Entrepreneurs and National Innovativeness H200701 3-1-2007 Entrepreneurial diversity and economic growth H200627 21-12-2006 Motivation Based Policies for an Entrepreneurial
EU Economy H200626 19-12-2006 Export Orientation among New Ventures and Economic growth H200625 18-12-2006 Institutionele voorwaarden voor zelfstandig ondernemerschap
U s. economic growth in the Information age. Brookings Papers on Economic activity, 1, 125 211. Kargon, R, S Leslie and E Schoenberger 1992.
Economic growth in Europe: A Comparative Industry Perspective. Cambridge, UK: Cambridge university Press. Triplett, J E and B P Bosworth 2004.
New Sources of Economic growth. WASHINGTON DC: Brookings Institution. Van Ark, P m O'Mahony and M P Timmer 2008.
and resource efficiency 4. Tackling social inclusion and demographic challenges 5. Implementation of local and territorial development aimed at promoting economic growth These funds provide financial basis for Hungary's medium and long-term development
growing enterprises as they are seen as a key driver of economic growth and employment. Europe has performed relatively badly in generating high-growth innovative companies that quickly become global leaders.
The government's 2009 New Growth Strategy identifies SMES as an engine for future high economic growth.
gorillas. 1 These enterprises are seen as important drivers of economic growth, employment and social wellbeing. There is also an increased interest of policy makers in fostering innovation,
Is it more efficient (in terms of economic growth and job creation) to support all SMES"a little bit, "or to concentrate efforts on those with the highest growth potential?(
in order to promote economic growth, therefore, what really is needed are new jobs and new growing firms...but high growth can be misperceived a indicator Policy makers should
Is it more efficient (in terms of economic growth and job creation) to support all SMES"a little bit, "or to concentrate efforts on those with the highest growth potential?
Getting economic growth and jobs creation from entrepreneurs is not a numbers game. It is about encouraging the formation of high quality, high growth companies.
and enhancing economic growth. 145 141 For example, the case study about Korea in this Policy Brief (see section 5. 1) mentions that the Korean government developed more than 100 different SME policy measures,
Through these overlapping diversification and clustering policy initiatives, the government's 2009 New Growth Strategy (Basic Policies) Toward a Radiant Japan identifies SMES as an engine for future high economic growth.
According to their mission statements, the MOIT focuses on the promotion of economic growth in Israel and the OCS oversees all Government sponsored support of R&d in the Israeli industry.
Firm Formation and Economic growth. March. Available at http://www. kauffman. org/uploadedfiles/high-growth-firms-study. pdf. Storey, D. J. 1994.
growing enterprises as they are seen as a key driver of economic growth and employment. Europe has performed relatively badly in generating high-growth innovative companies that quickly become global leaders.
The government's 2009 New Growth Strategy identifies SMES as an engine for future high economic growth.
gorillas. 1 These enterprises are seen as important drivers of economic growth, employment and social wellbeing. There is also an increased interest of policy makers in fostering innovation,
Is it more efficient (in terms of economic growth and job creation) to support all SMES"a little bit, "or to concentrate efforts on those with the highest growth potential?(
in order to promote economic growth, therefore, what really is needed are new jobs and new growing firms...but high growth can be misperceived a indicator Policy makers should
Is it more efficient (in terms of economic growth and job creation) to support all SMES"a little bit, "or to concentrate efforts on those with the highest growth potential?
Getting economic growth and jobs creation from entrepreneurs is not a numbers game. It is about encouraging the formation of high quality, high growth companies.
and enhancing economic growth. 145 141 For example, the case study about Korea in this Policy Brief (see section 5. 1) mentions that the Korean government developed more than 100 different SME policy measures,
Through these overlapping diversification and clustering policy initiatives, the government's 2009 New Growth Strategy (Basic Policies) Toward a Radiant Japan identifies SMES as an engine for future high economic growth.
According to their mission statements, the MOIT focuses on the promotion of economic growth in Israel and the OCS oversees all Government sponsored support of R&d in the Israeli industry.
Firm Formation and Economic growth. March. Available at http://www. kauffman. org/uploadedfiles/high-growth-firms-study. pdf. Storey, D. J. 1994.
1) The Digital Agenda for Europe seeks to optimise the benefits of information technologies for economic growth, job creation and the quality of life of European citizens,
the challenge of collaboration and governance Kevin Morgan Cardiff University Local Economic growth: Recession, Resilience and Recovery Conference St Catharine's College, Cambridge 11-12 july 2013 Overview Innovation narratives Regional innovation strategies Smart specialisation Key
and Hub towns to achieve the goals of economic growth in the regions and provide for major investment in the rural economy;
and value adding potential of economic growth and to achieve more sustainable patterns of settlement with the Gateway and Hubs as key areas for growth.
There is obvious potential for sustainable economic growth in this area given that the Southeast Region has 434 kms. of coastline
Increased demand up to 2009 for such services placed an increased burden on waste water infrastructure with the result that inadequate waste water facilities began to inhibit economic growth as well as becoming potential sources
and effects of the economic downturn and is planning for recovery and sustainable economic growth for the region.
The retail sector contributes significantly to the growth in employment and to the economic growth of the region.
The challenge over the next decade (faced by the entire country) is to shift economic growth toward export oriented sectors and activities.
and commerce that will be an extra boost to the economic growth of the region. PPO 6. 6 It is an objective of the Regional Authority to support the extension of the Bord Gáis network to Belview, to County Wexford and to other centres of industry.
and that progressive climate change policies based on innovation and investment in low-carbon technology are consistent with global economic growth. 6. 3. 2 National Obligations As part of EU
>Sustain economic growth and employment.>>Provide levels of income support to those relying on social welfare sufficient to sustain dignity
Stimulating productivity and long-term economic growth is thus as much about experimentation and new ideas as it is about optimising efficiency.
The Sources of Economic growth. Harvard university Press. Nelson, R. 1977. The moon and the ghetto. New york:
Innovation and Economic growth in Fagerberg et al (2005. The Oxford Handbook of Innovation. Oxford, UK: Oxford university Press.
to 1. Framework 17 resolve any coordination problems that may prevent emerging trends from becoming real, solid drivers for economic growth.
-R&i as a driver for economic growth. -Quadruple helix public-private cooperation. -Critical mass. -International competitive advantage.
and Europe 2020, is to generate a digital innovation hub in Catalonia to promote economic growth,
to 1. Framework 17 resolve any coordination problems that may prevent emerging trends from becoming real, solid drivers for economic growth.
-R&i as a driver for economic growth. -Quadruple helix public-private cooperation. -Critical mass. -International competitive advantage.
and Europe 2020, is to generate a digital innovation hub in Catalonia to promote economic growth,
achieving sustainable economic growth, strong public finances, and enduring job creation. After exiting the EU IMF Programme,
and are critical to Ireland's future economic growth. Evidence demonstrates a positive correlation between entrepreneurship and economic performance in terms of growth, firm survival, innovation, employment creation, technological change,
The categorisation 5 Action Plan The European Agenda for Entrepreneurship, European commission, COM (2004) 6 acknowledges the importance of both services and manufacturing activities to Ireland's future economic growth,
The focus of these criteria was to ensure alignment with the overall national policy focus on the transformation of the economy to a more sustainable basis for economic growth for the future,
achieving sustainable economic growth, strong public finances, and enduring job creation. After exiting the EU IMF Programme,
and are critical to Ireland's future economic growth. Evidence demonstrates a positive correlation between entrepreneurship and economic performance in terms of growth, firm survival, innovation, employment creation, technological change,
The categorisation 5 Action Plan The European Agenda for Entrepreneurship, European commission, COM (2004) 6 acknowledges the importance of both services and manufacturing activities to Ireland's future economic growth,
The focus of these criteria was to ensure alignment with the overall national policy focus on the transformation of the economy to a more sustainable basis for economic growth for the future,
and aims to deliver sustainable economic growth and social benefits from Information and Communication Technologies (ICT).
while focusing scarce human and financial resources in a few globally competitive areas in order to boost economic growth and prosperity. 14 For more information about previous innovation activities funded by the EU,
i e. why the instrument is perceived as important for economic growth, what are the challenges and barriers,
Information and communication technologies (ICT) are a powerful driver for economic growth, innovation and increased productivity.
sustainable and inclusive economic growth through the realisation of the digital single market and the exploitation of the potential for innovation of fast and ultra fast internet and interoperable services and applications.
and more effective use of digital applications and services spurring innovation, increased competitiveness and economic growth.
capable of generating economic growth and employment and strengthening the competitiveness of the EU economy. They bear enormous market potential.
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