HYPERION ECONOMIC JOURNAL

Hyperion University of Bucharest
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HYPERION ECONOMIC JOURNAL

April 2024
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Investments in Research-Development-Innovation - A Way to Overcome the Crisis Generated by Covid-19

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Authors:
  • Mădălina TOCAN, PhD, Associate Professor, SR III, Affiliation: Ecological University of Bucharest, Romania, Institute of National Economy - Romanian Academy, Romania;
  • Oana CHINDRIȘ-VĂSIOIU, PhD, SR III, Affiliation: Institute of National Economy - Romanian Academy, Romania;
  • Anca CRISTEA, PhD, Lecturer, SR III, Affiliation: Hyperion University of Bucharest, Institute of National Economy - Romanian Academy, Romania.
  • Nicoleta GUDĂNESCU, PhD, Associate Professor, SR III, Affiliation: Hyperion University of Bucharest, Institute of National Economy - Romanian Academy, Romania.
Pages:  3 : 9
Abstract:

Research-development and innovation have played an important role in the Covid-19 pandemic. The world's economies have focused and are focusing on stimulating the investments in research-development-innovation in order, on the one hand, to solve the medical situation (drugs, vaccines, high-performance equipment) and, on the other hand, to boost the economic development, which is necessary to replenish depleted budgets by the measures taken to limit the effects of the Covid-19 pandemic. The present paper presents how the pandemic affected research-development and innovation (RDI). Also, the paper presents how RDI was mobilized to provide vaccines, treatments, and innovative solutions (often digital) and examines the RDI policies responses implemented in countries to stimulate research and innovation in order to find solutions to the pandemic. Many European countries prioritize the field of research and development by attracting European funds. In Romania, the phrase "research and development" is frequently mentioned in the National Plan for Investment and Economic Recovery recently published by the government, in different contexts, either related to GDP growth, improving digitalization in administration and economy, increasing competitiveness in fight SARS-CoV-2 virus and more. However, Romania hardly manages to popularize even the existing facilities in the field, so that they can be accessed by more beneficiaries.

JEL classification:  O30, O31, Q55

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