Open AccessIMPACT OF THE CRISIS ON INNOVATION AND TECHNOLOGICAL DEVELOPMENT: FAILURE, BREAKTHROUGH, OPPORTUNITY?
Author(s) -
DANILIN IVAN V.
Publication year - 2020
Publication title -
naučnye trudy volʹnogo èkonomičeskogo obŝestva rossii
Language(s) - English
Resource type - Journals
ISSN - 2072-2060
DOI - 10.38197/2072-2060-2020-225-5-201-238
Subject(s) - business , order (exchange) , technological change , industrial organization , covid-19 , economic system , high tech , technology development , emerging technologies , economic policy , market economy , economic growth , economics , engineering , political science , finance , macroeconomics , nanotechnology , manufacturing engineering , medicine , disease , pathology , infectious disease (medical specialty) , law , materials science
Article analyzes innovative and technological development during the economic crises with focus on possible disruptions. Despite negative conditions, large high-tech companies and smart small and medium enterprises avoid failures in their technological and innovative activities in order to sustain competitive positions. However, the study generally does not support the neoschumpeterian theoretical proposition that crises may stimulate technological disruptions. We identified only two exceptions. Firstly, disruption may occur as a result of exogenous shocks that changes basic market conditions (supported by the cases of Oil Shocks and green energy systems, and COVID-19 pandemic and internet technologies). Secondly, since 2000s national anti-crisis policies may play a larger role in development of emerging technologies (as a factor of overcoming economic downturns). Article identifies development of high-tech sector and national innovation system institutions as key factors for stabilization of innovative and technological activities and for rising probability of disruption in crises.