| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2014) 339 final (10.06.14) |
| Publication Date | 10/06/2014 |
| Content Type | Policy-making, Report |
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Europe is well placed to capture the next growth opportunities. With the largest internal market in the world it is home to many of the world's leading innovative companies, and has a leading position in many fields of knowledge and key technologies such as health, food, renewable energies, environmental technologies and transport. It has untold wealth stemming from its highly educated workforce and its leading talent in cultural and creative industries. However, efforts are still required to ensure the smooth functioning of its single market, to improve the framework conditions for businesses to innovate, and to speed up investments in breakthrough technologies in fast-growing areas. New growth opportunities come from providing new products and services derived from technological breakthroughs, new processes and business models, non-technological innovation and innovation in the services sector, combined with and driven by creativity, flair and talent, or, in other words, from innovation in its broadest sense. They should benefit from a strong economic policy focus and from policies tackling societal challenges such as the ageing population, energy security, climate change, including disaster risk management, and social inclusion, which need breakthrough innovations. To reap the benefits from these advantages in terms of economic prosperity and quality of life, governments across Europe need to take an active stance in supporting growth enhancing policies, notably research and innovation. The gradually improving economic situation allows Europe now to shift its focus towards enhancing growth while keeping up the pace of reform to secure a lasting recovery. As Europe exits the crisis, it is increasingly clear how supporting growth enhancing policies have ultimately paid off. Evidence shows that much of recent productivity gains come from innovation and that, on average, those countries that invested more in research and innovation (R&I) before and during the crisis have been the most resilient during the economic downturn. This Communication will explore how the potential of research and innovation as drivers of renewed growth can be maximised through raising the quality of investments within Member States' growth friendly fiscal consolidation strategies. |
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| Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2014:339:FIN |
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| Subject Categories | Culture, Education and Research, Economic and Financial Affairs |
| Countries / Regions | Europe |
