Financing Innovational and Research Development Activities Before and After the Crisis in Hungary
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 5
Abstract
The study tries to respond to the question how did the financial crisis of 2007-2008 influence the amount and composition of the expenses of the Hungarian innovational research institutes (company, public financial, non-profit organizational and higher education together). As per my first hypothesis outbreak of the crisis could have induced two different reactions from the financiers of the innovations. One of the possible reactions could be retaining and reducing of the innovation expenses due to the crisis-related dropping demand and lower incomes. The other response could be contrary to the above; namely that choosing a kind of preliminary escape they try to reset and increase their incomes to those before the crisis by increasing their innovation expenses despite the reducing demand. My other hypothesis is that the increased budgetary deficiencies and debts of the member countries of the European Union caused these countries reduce their state innovational expenses. As it is clear from the study this was the case in the state budget of Hungary, but due to the crisis, the Hungarian companies increased their innovational costs. However the innovational expenses stagnate in the member countries of the European Union, as compared to the GDP.
Authors and Affiliations
László Török Phd
Keywords
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