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Innovation policies and entrepreneurship in the Baltic States - key to European Economic success

Author

Listed:
  • Olesea SIRBU
  • Augustin IGNATOV
  • Rodica CRUDU

Abstract

Entrepreneurship is by far the most important force stimulating economic growth and social progress. In case of the Baltic States pro-market regulation allowed passing over the transition period in a relatively short period of time and, therefore, be sufficiently competitive as to integrate into the European Union. Thus, presently, the Baltic States came to be the most economically developed countries among the former USSR states. Consequently, the present research addresses three key questions, first, which is the role of entrepreneurship in determining the Baltic States’ economic development, second, what is the influence of R&D investments of the society in general and of business in particular in boosting economic development, and third, will the present fiscal policies in the Baltic States motivate further economic growth by stimulating entrepreneurial and innovation? The methodology involved in this paper includes both quantitative and qualitative indicators which combined will offer a deeper insight upon the matter of the present research. The results received allowed reaching the conclusion that entrepreneurship has enhanced all the Baltic States’ economic competitiveness yet the extent differ, with Estonia leading followed by Lithuania and Latvia.

Suggested Citation

  • Olesea SIRBU & Augustin IGNATOV & Rodica CRUDU, 2017. "Innovation policies and entrepreneurship in the Baltic States - key to European Economic success," Eastern European Journal for Regional Studies (EEJRS), Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), vol. 3(2), pages 68-81, December.
    • Handle: RePEc:aem:journl:v:3:y:2017:i:2:p:68-81
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    Citations

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    Cited by:

    1. Ignatov Augustin, 2018. "Towards a Confident Europe: Fostering European Foreign Policy as a Premise to Enhanced European Economic Security & Competitiveness," Global Economy Journal, De Gruyter, vol. 18(3), pages 1-13, September.
    2. Ignatov Augustin, 2018. "Regional Development Discrepancies in the Eastern European Union Analysed through the Prism of Growth Determinants," Global Economy Journal, De Gruyter, vol. 18(4), pages 1-18, December.
    3. SIRBU Olesea & CRUDU Rodica & IGNATOV Augustin, 2018. "European initiatives for a competitive economy in a globalised world- Entrepreneurial innovation as a pivotal stake," Eastern European Journal for Regional Studies (EEJRS), Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), vol. 4(1), pages 47-66, June.

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