Azerbaijan, Baku, Oct. 11 / Trend , G.Dadashova /
Governments can play an important role in bringing innovation and technology to markets in Emerging Europe and Central Asia (ECA), says a new World Bank report 'Igniting Innovation: Rethinking the Role of Government in Emerging Europe and Central Asia ' published on Oct.10.
"But badly designed or badly implemented government interventions can further hamper the development of an innovative and entrepreneurial culture among businesses and research communities," the report reads.
The document calls on the region to take dramatic steps to position itself closer to the scientific and technological frontiers and regain the lead in regional or even global settings. Innovation and technology absorption are widely recognized as main sources of economic growth for emerging and advanced economies alike.
It is vital for governments to choose the right policies and country examples to follow rather than implementing innovation support measures which do not suit the country context.
"We see innovation as a possible catalyst for revitalizing post-transition economies in the ECA region, which was hit hard by the recent financial and economic crisis," said Gerardo Corrochano, World Bank Sector Director, Europe and Central Asia, Private Sector Development in his opening remarks during the official launch of the report. "We hope that the report will help governments in the region avoid pitfalls and implement policies that will effectively make innovation and technology adoption a central part of the national development and growth strategies."
The region has a tradition of excellence in learning and basic research which can provide the base for future commercial innovation. However, going from a strong research foundation to economically productive commercial applications remains a critical missing link.
The new report explores ways in which governments can build on the region's strong research foundation to support commercialization. It analyzes four aspects of the innovation system - international collaboration, research and development institutions, government financial support instruments, and the investment climate - and concludes that the following steps are necessary for igniting innovation in ECA.
The results and recommendations offered by the report are intended to contribute to the discussion about the role of government in innovation policy, and how to make innovation and technology adoption a central part of the development and growth strategies of post-transition countries.