Inovacione aktivnosti u periodu krize
Innovation Activities In The Period Of Crisis

Summary/Abstract: The outbreak of the global economic crisis has caused significant changes in the functioning of modern economies. The effects of the crisis are reflected in production decline, bankruptcy of major financial intermediaries and a sharp drop of turnover in financial markets. The accompanying manifestations of these events are reflected in the sharp fall of aggregate demand, the firms' profit decline and chronic lack of financial funds. In these circumstances, the economic category most affected by the crisis is innovation. However, even in a time of crisis there are firms whose innovation activity has not reduced, while the main drivers of innovation are changing. The paper suggests that the recession may not necessarily cause a drop in the investment activities of the firms, and particularly emphasizes the role of the national innovation infrastructure in encouraging innovation in the crisis period. Social networks as social structures that promote cooperation between firms contribute to the intensification of innovation processes that take place as process embedded in a given social, institutional and cultural environment.

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