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Is Smart Specialization Policy A Viable Solution For The Economic Development Of The European Union Regions?

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  • Smarandache (Păsătoiu) Marijana Cristina

    (University of Craiova Faculty of Economics and Business Administration)

Abstract

Launched in 2008 by the K4G (Knowledge for Growth) Expert Group at the request of Janez Potočnik, the concept of smart specialization evolved extremely rapidly, from an academic discussion to an agreed, endorced and enforced regional development policy by the European Commission through the thematic ex-ante conditionality 1.1 Research and Innovation. The extremely short period associated with the process of developing, understanding, and implementing this concept has generated many challenges for both policy makers as well as the private sector. In an attempt to clarify the concept of smart specialization, the present article addresses in its first part a structured presentation of the concept, principles, objectives and stages of implementation. In the second part I critically analyze the main weaknesses, the dilemmas and deficiencies of the policy and the impact of these challenges in our country. A series of conclusions and recommendations are presented at the end.

Suggested Citation

  • Smarandache (Păsătoiu) Marijana Cristina, 2018. "Is Smart Specialization Policy A Viable Solution For The Economic Development Of The European Union Regions?," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(46), pages 23-32, November.
    • Handle: RePEc:aio:aucsse:v:1:y:2018:i:46:p:23-32
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    References listed on IDEAS

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    1. Hausmann, Ricardo & Rodrik, Dani, 2003. "Economic development as self-discovery," Journal of Development Economics, Elsevier, vol. 72(2), pages 603-633, December.
    2. Philip McCann & Raquel Ortega-Argilés, 2016. "The early experience of smart specialization implementation in EU cohesion policy," European Planning Studies, Taylor & Francis Journals, vol. 24(8), pages 1407-1427, August.
    3. Dominique Foray & Alessandro Rainoldi, 2013. "Smart specialisation programmes and implementation," JRC Research Reports JRC82224, Joint Research Centre.
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    More about this item

    Keywords

    smart specialization; entrepreneurial discovery; research and innovation; areas of intelligent specialization; conditionalities;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M38 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Government Policy and Regulation
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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