ABSTRACT
The devastating effects of the economic crisis – the worst since the Second World War – are well known, measured by decreasing GDP and employment growth rates in all advanced economies in the world. The economic crisis hit Central and Eastern European countries at the moment when they were adjusting their structure towards that of the Western countries. In the face of the knowledge creation gap that existed between Europe and the most advanced economies, the Lisbon Agenda and the Europe 2020 Agenda recommended policy makers to achieve a target of 3% R&D investments over GDP. At the same time, a large debate was launched as to whether R&D investments were the right innovation tools to stimulate innovation. Central and Eastern European countries (CEECs) are no longer a single and homogenous area: they are characterized by a clear eastern periphery and show differentiated patterns of growth, based on different assets and territorial structures, and calling for different strategies.
