Impact of the COVID-19 Pandemic on Research and Innovation Activity

The measures to combat the COVID-19 pandemic will lead to a massive global recession. The study highlights two central aspects of innovation policy. Firstly, companies that are R&D-active generally come through an economic crisis more easily. Second, R&D and innovation activities are pro-cyclical, which can sustainably weaken innovation as a long-term driver of employment and economic growth and slow down the development of solutions to social challenges. Economic policy recommendations conclude the study.