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Regional Development vs. Innovation – The Main Engine of Economic Growth

Author

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  • Elena Mădălina Oprițescu

    (University of Craiova, Romania)

Abstract

Regional development and innovation are vital processes for social and economic growth of Europe. In the current period, deeply affected by the financial and economic crisis with major demographic changes, intense global competition, many budgetary restrictions, the competitiveness in Europe as well as its capacity to create new jobs, briefly, our life standard depends on its ability of innovation in products, services and commercial and social processes. This is the reason why innovation has been placed at the heart of Europe Strategy 2020. Furthermore, health, energy supply, major climate changes, environment with its limited resources, and the population aging are major social challenges that are approached by innovation. Starting from all these aspects, we are facing now the following questions: on what shall be based the next competitiveness in Europe? How will we generate a new growth and how will we re-launch Europe’s economy?

Suggested Citation

  • Elena Mădălina Oprițescu, 2012. "Regional Development vs. Innovation – The Main Engine of Economic Growth," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 12(2), pages 171-178.
    • Handle: RePEc:pet:annals:v:12:y:2012:i:2:p:171-178
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    More about this item

    Keywords

    economic growth; regional development; innovation; research and development;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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