Ivana Janjić – Innovation center, University of Niš; Serbia
Milica Đokić – Innovation center, University of Niš; Serbia


7th International Scientific-Business Conference – LIMEN 2021 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – SELECTED PAPERS, Online/virtual, December 16, 2021, published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-53-0, ISSN 2683-6149, DOI: https://doi.org/10.31410/LIMEN.S.P.2021

Economic crisis;
COVID-19 pandemic;
Global Innovation Index;
Research and development

DOI: https://doi.org/10.31410/LIMEN.S.P.2021.1


The outbreak of the coronavirus pandemic in 2020 is unquestion­ably one of the greatest challenges the world has ever faced. Aside from the terrible repercussions for human health, the current situation with COVID-19 pandemic has impacted all economies across the globe. Based on scientific literature, publicly available data and analytical reports, this paper will try to identify the changes in innovations potential of certain countries caused by the current pandemic. Observing the indicators of the Global Innovation Index (GII), comparative analysis will show how much has the pandemic af­fected the innovation capacity of the chosen countries and indicate the dif­ferences among them. Furthermore, the paper aims to research and to per­ceive the importance of undertaking innovations and R&D activities in crises such as the spread of coronavirus.

Download file

LIMEN Conference

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 



Ankrah, S. & AL-Tabbaa, O. (2015). Universities-industry collaboration: A systematic re­view. Scandinavian Journal of Management, 31(3): 387-408. https://doi.org/10.1016/j.sca­man.2015.02.003

Brem, A., Viardot, E., & Nylund, P. (2021). Implications of the coronavirus (COVID-19) out­break for innovation: Which technologies will improve our lives? Technological Forecast­ing & Social Change 163, 120451. doi:10.1016/j.techfore.2020.120451

El Chaarani, H., Vrontis, P.D., El Nemar, S., & El Abiad, Z. (2021). The impact of strategic com­petitive innovation on the financial performance of SMEs during COVID-19 pandemic period, Competitiveness Review, Vol. ahead-of-print No. ahead-of-print. doi:10.1108/CR- 02-2021-0024

Eurostat https://ec.europa.eu/eurostat/web/science-technology-innovation/overview

Flammer, C., & Ioannou, I. (2015). The dog that didn’t bark: Long-term strategies in times of recession. Working Paper, University of Western Ontario, London.

Grassano, N., Hernandez Guevara, H., Fako, P., Tuebke, A., Amoroso, A., Georgakaki, A., Na­politano, L., Pasimeni, F., Rentocchini, F., Compano, R., Fatica, S. & Panzica, R. (2021). The 2021 EU Industrial R&D Investment Scoreboard – Executive Summary, Luxembourg: Publications Office of the European Union. doi:10.2760/248161, JRC127360.

Heinonen, K. & Strandvik, T. (2021). Reframing service innovation: COVID-19 as a catalyst for imposed service innovation. Journal of Service Management, 32(1): 101-112. Emerald Publishing Limited. doi: 10.1108/JOSM-05-2020-0161

Jung, H., Hwang, J.T., & Kim, K. (2018). Does R&D investment increase SME survival during a recession? Technological Forecasting and Social Change 137: 190–198. doi:10.1016/j. techfore.2018.07.042

Laursen, K., & Salter, A. (2006). Open for innovation: The role of openness in explaining in­novation performance among UK manufacturing firms. Strategic Management Journal, 27(2): 131–150. doi:10.1002/smj.507

Marušić, M. & Marušić, A. (2009). The Purpose of Scientific Journals: Small is Important. Journal of Tehran University Heart Center, 4(3): 143-147.

OECD (2021). OECD Main Science and Technology Indicators, Highlights on R&D expendi­ture, March 2021 release. OECD Directorate for Science, Technology and Innovation.

Phan, P.H. & Peridis, T. (2000). Knowledge creation in strategic alliances: Another look at organizational learning. Asia Pacific Journal of Management, 17(2): 201-222. DOI:10.1023/A:1015857525048

Škudiene, V., Augutytė-Kvedaravičienė, L. & Gabrielaityte, U. (2021). Knowledge Management and Perceived Organizational Innovativeness in Global Organizations. Central European Business Review, 10(3): 51-65. DOI: 10.18267/j.cebr.260

Spescha, A., & Woerter, M. (2019). Innovation and firm growth over the business cycle. Indus­try and Innovation 26(3): 321–347. doi:10.1080/13662716.2018.1431523

Tekić, Ž., Cosić, I. & Katalinić, B. (2013). Knowledge Creation and Emergence of Innovations. International Journal of Industrial Engineering and Management, 4(1): 27-32.

Van Auken, H. E., Fotouhi Ardakani, M., Carraher, S., & Khojasteh Avorgani, R. (2021). Inno­vation among entrepreneurial SMEs during the COVID-19 crisis in Iran. Small Business International Review, 5(2), e395. doi:10.26784/sbir.v5i2.395

Wang, Y., Hong, A., Li, X., & Gao, J. (2020). Marketing innovations during a global crisis: A study of China firms response to COVID-19. Journal of Business Research 116, 214-220. doi:10.1016/j.jbusres.2020.05.029

WIPO (2018). The Global Innovation Index 2018: Energizing the World with Innovation, July 10 Release. World Intellectual Property.

WIPO (2019). Global Innovation Index 2019 – Creating Healthy Lives – The Future of Medical Innovation? Cornel: SC Johnson College of Business.

WIPO (2020). Global Innovation Index 2020 – Who Will Finance Innovation? Cornel: SC John­son College of Business.

WIPO (2021). Global Innovation Index – Tracking Innovation through the COVID-19 Crisis, September 20 Release. Geneva: World Intellectual Property Organization.

WIPO (2021). World Intellectual Property Indicators 2021. Geneva: World Intellectual Property Organization

Association of Economists and Managers of the Balkans – UdEkoM Balkan
179 Ustanicka St, 11000 Belgrade, Republic of Serbia

LIMEN conference publications are licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.