Abstract

Eco-innovation should be identified as one of the main pillars for European countries, including those from the Central Eastern European (CEE) region. For this reason, the aim of this chapter is to present a comparative cross-country analysis of the relationship between eco-innovation and its main drivers for firms from selected CEE countries. The chapter provides a special insight into the role of public financial support and government regulations in stimulating eco-innovation performance. The empirical part is based on micro-data for CIS 2006–2008 for firms from Bulgaria, Czech Republic, Romania and Germany. The results of stepwise regression show that financial support for innovation activities has rather limited role in fostering eco-innovation, whereas existing environmental regulations are regarded by enterprises from CEE region as their most important driver. In Germany, country ranked higher in Eco-Innovation Scoreboard than the other above mentioned countries, the spectrum of equally important forces is much more enhanced. This leads to the conclusion that government efforts have to cover not only changes in existing environmental policies, but set the ground for the creation of a legal and institutional environment which promotes a model of green economy.

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