Baltic and Asian tigers: The biotechnology sectors of Lithuania and India as sources of innovation and economic growth
Baltic and Asian tigers: The biotechnology sectors of Lithuania and India as sources of innovation and economic growth
Author(s): Vincentas Rolandas Giedraitis, Aušra Rastenienė, Hariharan RajanbabuSubject(s): Economy
Published by: Prague Development Center
Keywords: Biotechnology; Lithuania; India; Schumpeter; business cluster theory; Kondratiev waves
Summary/Abstract: This paper explores similarities and differences between the biotechnology sectors of Lithuania and India. In both cases, the biotechnology sectors are major motors of economic growth. In the case of Lithuania, we borrow from Schumpeter’s ideas of innovation and Porter’s business cluster theory, and argue that Lithuania is “at the right place and the right time” to make it a regional leader in Baltic biotechnology. Although very different, India’s biotechnology sector is also rapidly changing and innovating.
Journal: Perspectives of Innovations, Economics and Business, PIEB
- Issue Year: 9/2011
- Issue No: 3
- Page Range: 5-11
- Page Count: 7
- Language: English