TY - JOUR
T1 - Smart specialization policy in the European Union
T2 - relatedness, knowledge complexity and regional diversification
AU - Balland, Pierre Alexandre
AU - Boschma, Ron
AU - Crespo, Joan
AU - Rigby, David L.
PY - 2019/9/2
Y1 - 2019/9/2
N2 - The operationalization of smart specialization policy has been rather limited because a coherent set of analytical tools to guide the policy directives remains elusive. We propose a policy framework around the concepts of relatedness and knowledge complexity. We show that diversifying into more complex technologies is attractive but difficult for European Union regions to accomplish. Regions can overcome this diversification dilemma by developing new complex technologies that build on local related capabilities. We use these findings to construct a policy framework for smart specialization that highlights the potential risks and rewards for regions of adopting competing diversification strategies.
AB - The operationalization of smart specialization policy has been rather limited because a coherent set of analytical tools to guide the policy directives remains elusive. We propose a policy framework around the concepts of relatedness and knowledge complexity. We show that diversifying into more complex technologies is attractive but difficult for European Union regions to accomplish. Regions can overcome this diversification dilemma by developing new complex technologies that build on local related capabilities. We use these findings to construct a policy framework for smart specialization that highlights the potential risks and rewards for regions of adopting competing diversification strategies.
KW - European Union Cohesion Policy
KW - knowledge complexity
KW - regional diversification
KW - smart specialization
KW - technological relatedness
UR - http://www.scopus.com/inward/record.url?scp=85042911609&partnerID=8YFLogxK
U2 - 10.1080/00343404.2018.1437900
DO - 10.1080/00343404.2018.1437900
M3 - Article
AN - SCOPUS:85042911609
SN - 0034-3404
VL - 53
SP - 1252
EP - 1268
JO - Regional Studies
JF - Regional Studies
IS - 9
ER -