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Smart Specialisation in Cohesion Economies

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  • Marek Tiits
  • Tarmo Kalvet
  • Imre Mürk

Abstract

With the rise of the smart specialisation (RIS3) concept, concentrating knowledge resources and linking them to a limited number of priority economic activities have become an important concept in the R&D, innovation and cohesion policies in the European Union. We conclude from the analysis of economic performance and effectiveness of the prior higher education, R&D and innovation policies in selected European small economies and theory that several crucial issues should be considered in translating the RIS3 into effective strategies. RIS3 was born to inform R&D policy making, and it emphasises predominantly R&D-based technological innovation. Yet, it is not sufficient to focus solely on the contribution of R&D to the upgrading of existing industry, when economic cohesion and structural change in industry is sought. Development of an effective RIS3 calls for, especially in the EU cohesion economies, substantial efforts to strengthen higher education, R&D job creation and capability building in future paradigm leading high-tech areas in particular. The role of foreign direct investments and relocation of industry in structural change should also be considered carefully. Finally, proper loop-back mechanisms have to be put in place in order to foster policy learning, and introduction of necessary policy adjustments as RIS3 gets implemented. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Marek Tiits & Tarmo Kalvet & Imre Mürk, 2015. "Smart Specialisation in Cohesion Economies," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 6(2), pages 296-319, June.
    • Handle: RePEc:spr:jknowl:v:6:y:2015:i:2:p:296-319
    DOI: 10.1007/s13132-015-0239-6
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    4. Laima Gerlitz & Christopher Meyer & Christopher Meyer & Gunnar Prause & Gunnar Prause, 2020. "Methodology approach on benchmarking Regional Innovation on Smart Specialisation (RIS3): a joint macro-regional tool to regional performance evaluation and monitoring in Central Europe," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(2), pages 1359-1385, December.
    5. Cristina Serbanica, 2018. "Smart Specialization and Sustainability in Central and Eastern Europe: An Inquiry Into The Logic of Intervention," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 12(1), pages 43-58, June.
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    8. Bachtler, John & Begg, Iain, 2018. "Beyond Brexit: reshaping policies for regional development in Europe," LSE Research Online Documents on Economics 86438, London School of Economics and Political Science, LSE Library.
    9. João M. Lopes & Márcio Oliveira & Jorge Lopes & Umer Zaman, 2021. "Networks, Innovation and Knowledge Transfer in Tourism Industry: An Empirical Study of SMEs in Portugal," Social Sciences, MDPI, vol. 10(5), pages 1-17, April.
    10. Cristina Serbanica, 2018. "Smart Specialization and Sustainability in Central and Eastern Europe: An Inquiry Into The Logic of Intervention," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 12(1), pages 43-58, June.
    11. Roberta Arbolino & Raffaele Boffardi & Luisa De Simone, 2019. "Which are the Factors Influencing Innovation Performances? Evidence from Italian Cohesion Policy," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 146(1), pages 221-247, November.
    12. Jov{z}e P. Damijan & Sandra Damijan & Osiris Jorge Parcero, 2024. "Is there a size premium for nations?," Papers 2401.05116, arXiv.org.

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