Vienna, Austria, 8-9 June 2011
Expanding the Frontiers of Innovation
The diverse yet highly interdependent economies of Europe and Central Asia have reached a critical juncture. While the advanced economies of the European Union are experiencing fiscal austerity and slower growth, emerging economies further east and in Central Asia are grappling with the pressures of rapid growth.
All the economies, however, require structural reforms, particularly in the areas of labour, services and R&D, as well as policy innovations to deal with rapidly shifting demographics. In sum, for the European and Central Asian economies to regain their competitive edge in a rebalancing global economy, they need to expand the frontiers of innovation across geographies, sectors and generations.