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Baltic and Asian tigers: The biotechnology sectors of Lithuania and India as sources of innovation and economic growth

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Author(s): Vincentas Giedraitis | Ausra Rasteniene | Hariharan Rajanbabu

Journal: Perspectives of Innovations, Economics and Business
ISSN 1804-0519

Volume: 9;
Issue: 3;
Start page: 5;
Date: 2011;
Original page

Keywords: Biotechnology | Lithuania | India | Schumpeter | business cluster theory | Kondratiev waves

ABSTRACT
This paper explores similarities and differences between the biotechnology sectors of Lithuania and India. In both cases, the biotechnology sectors are major motors of economic growth. In the case of Lithuania, we borrow from Schumpeter’s ideas of innovation and Porter’s business cluster theory, and argue that Lithuania is “at the right place and the right time” to make it a regional leader in Baltic biotechnology. Although very different, India’s biotechnology sector is also rapidly changing and innovating.
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