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Theoretical and Applied Economics
No. 7 / 2014 (596)

Through creativity and innovation to economic development: is it possible in Romania?

Mihaela DIACONU
The “Gheorghe Asachi” Technical University of Iasi, Romania

Abstract. Creativity is a source of innovation. This paper investigates methods of stimulating creativity in firms. Using CIS7 data at the sectoral level, the exploratory analysis carried out first is followed by testing of factors which we identify in order to asses their incidence on R&D activity. The results show intense interactions between R&D investments and methods of stimulating creativity based on extrinsic motivations, as well as between R&D investments and turnover used as an indicator of financial results in firms. Trough such connections observed, this paper invites agents in business and government environments to recognize the importance of stimulating creativity and innovation in Romania, able to allow economic development.

Keywords: firm, creativity, innovation, research and development.

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Marin Dinu

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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