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  • The financial crisis which started in 2007 has triggered a global economic downturn. This has resulted in at first falling economic growth rates followed by a real economic decline in many countries. Indicators of innovation performance, including those used in European Innovation Scoreboard, have a time lag of one or more years and therefore do not yet reveal the full impact of the crisis that reached its height in the second half of 2008. This Thematic Paper is based on an analysis of the Innobarometer 2009 survey (EC, 2009b) of innovating firms in the EU27 which was conducted in April 2009. The survey data indicates that 23% of innovative firms had decreased their innovation expenditures as a direct result of the economic downturn, and that 29% of firms expected their 2009 innovation expenditures to be lower than in 2008. This showed a marked transition from the period 2006-08 where only 9% of firms had decreased innovation expenditures. The analysis in this paper uses micro-data from the survey to analyse which factors appear to have influenced firms decisions to reduce innovation expenditure and to consider what the longer term impacts of this could be. (xsd:string)
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  • 2009 (xsd:gyear)
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  • 2009 (xsd:gyear)
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  • The Impact of the Economic Crisis on Innovation. Analysis based on the Innobarometer 2009 survey (xsd:string)
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  • EB - Standard and Special Eurobarometer (xsd:string)
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