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DUAL ECONOMY AND IMPACTS OF FOREIGN INVESTMENT ON PRIVATE R&D IN SLOVAKIA

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Zajac Š., Baláž V.

Ekonomický časopis (Journal of Economics)

2007

vol. 55

issue 9

851-872

This paper analyses development of the private R&D system in Slovakia after 1989. In 1990s, Slovakia experienced a painful economic transition, privatization and influx of the foreign direct investment. These developments were major factors behind sharp fall in R&D spending and levels of innovativeness. Moreover, Slovakia became a dual economy. Branch-plants of the multinational companies benefited from technology diffusion and accounted for the high productivity levels. The domestic companies generated low demand on innovative solutions and competed with the low costs of production. There, however, were some 'islands of excellence'. This was a case of the 'Zentiva' pharmaceutical firm, which accounted for a distinctive system of R&D and innovation patterns. The 'Zentiva' case study is analysed via patterns of corporate governance, entry of a smart foreign investor and firm's international expansion. Concluding chapter summarizes the findings on role of FDI in fostering innovations and private R&D.

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1 Ekonomický časopis (Journal of Economics)

1 2007

1 Baláž V.

1 Zajac Š.

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DUAL ECONOMY AND IMPACTS OF FOREIGN INVESTMENT ON PRIVATE R&D IN SLOVAKIA