Smart specialization policy in the European Union: relatedness, knowledge complexity and regional diversification

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.

Citation
Pierre-Alexandre Balland, Ron Boschma, Joan Crespo & David L. Rigby (2019) Smart specialization policy in the European Union: relatedness, knowledge complexity and regional diversification, Regional Studies, 53:9, 1252-1268, DOI: 10.1080/00343404.2018.1437900
Document type
  • Discussion paper
  • Research paper
Language

English

Publication Year

2019

Author(s)/Editor(s)
Pierre-Alexandre Balland, Ron Boschma, Joan Crespo & David L. Rigby
Geographical focus
  • Europe
  • European Union (EU 28)
Scientifc field / Thematic focus
  • Cross-thematic/Interdisciplinary

Entry created by Admin WBC-RTI.info on November 20, 2019
Modified on November 20, 2019