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Emerging Innovation in Emerging Economies: Can Institutional Reforms Help Russia Break Through Its Historical Barriers?
Author(s) -
McCarthy Daniel J.,
Puffer Sheila M.,
Graham Loren R.,
Satinsky Daniel M.
Publication year - 2014
Publication title -
thunderbird international business review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.553
H-Index - 37
eISSN - 1520-6874
pISSN - 1096-4762
DOI - 10.1002/tie.21619
Subject(s) - context (archaeology) , emerging markets , government (linguistics) , business , natural resource , economic system , economics , economy , economic growth , political science , finance , paleontology , linguistics , philosophy , law , biology
This article investigates Russia's historical and current innovation initiatives through the lens of institutional theory, utilizing the triple‐helix innovation model, which we have extended to include the context of Russian culture. The Russian government has embarked upon a national innovation policy and has committed billions of dollars with the goal of developing a knowledge‐based economy to enhance participation in the global arena, while simultaneously diversifying away from energy and natural resources. Historically, Russia has typically not succeeded with innovation beyond the idea, and sometimes product development, stages. Our primary conclusion is that the inadequacy of formal and informal institutional support has created historical barriers in Russia, some of which are currently being addressed to develop an innovation ecosystem encompassing a more supportive institutional infrastructure. The article concludes with implications for US firms and universities involved with innovation activities in Russia. © 2014 Wiley Periodicals, Inc .