Abstract
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.
| Original language | English |
|---|---|
| Pages (from-to) | 1252-1268 |
| Number of pages | 17 |
| Journal | Regional Studies |
| Volume | 53 |
| Issue number | 9 |
| DOIs | |
| Publication status | Published - 2 Sept 2019 |
Funding
Financial support from the Regional Studies Association (RSA) through the Early Career Grant awarded to Pierre-Alexandre Balland is gratefully acknowledged. The authors also thank the European Commission for its financial support through the project ‘Technological Diversification of Europe’s Regions’. Funding support by the JPI Urban Europe project ‘Resilient Cities: Industrial Network and Institutional Perspectives on Economic Growth and Well-Being’ [grant number 438-13-406] is also acknowledged by Ron Boschma.
Keywords
- European Union Cohesion Policy
- knowledge complexity
- regional diversification
- smart specialization
- technological relatedness
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