Impacts of Innovative EU Companies on Smaller Emerging Markets under an Open Economy
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Purpose – This study aims to analyze the relationship between trends in innovative EU industries and market distribution in smaller emerging markets under an open economy. Research design, data, and methodology – Although innovation was well-distributed, due to socio-economic factors following European integration, CEE had not achieved sustainable economic growth. However, this paper analyzes the differences among changes in CEE innovation for smaller emerging markets dominated since 2000. Market distribution has facilitated new markets for innovative industries, according to EU surveys and economic indicators. Results – The dominance of the local industrial market distribution has deterred innovation investment the survey shows that innovation investment has been shrinking, despite the EU’s open innovation policy for CEE employment and R&D. For the CEE case, there were expectation gaps and uncertainty about whether to use the new distribution dominance or TNCs' innovation in smaller emerging countries without local industrial innovation. Conclusions – Innovation generates market growth and distribution power however, small growth requires stimulation, and creativity and innovative edge need further focus in local public and corporate strategy.
Abstract
Purpose – This study aims to analyze the relationship between trends in innovative EU industries and market distribution in smaller emerging markets under an open economy. Research design, data, and methodology – Although innovation was well-distributed, due to socio-economic factors following European integration, CEE had not achieved sustainable economic growth. However, this paper analyzes the differences among changes in CEE innovation for smaller emerging markets dominated since 2000. Market distribution has facilitated new markets for innovative industries, according to EU surveys and economic indicators. Results – The dominance of the local industrial market distribution has deterred innovation investment the survey shows that innovation investment has been shrinking, despite the EU’s open innovation policy for CEE employment and R&D. For the CEE case, there were expectation gaps and uncertainty about whether to use the new distribution dominance or TNCs' innovation in smaller emerging countries without local industrial innovation. Conclusions – Innovation generates market growth and distribution power however, small growth requires stimulation, and creativity and innovative edge need further focus in local public and corporate strategy.
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