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Smart specialisation strategies and industrial modernisation in European regions—theory and practice1

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  • Dominique Foray

Abstract

Based on a seminal policy paper (Foray et al., 2009), the Smart Specialisation Strategies (S3) approach was integrated into the reformed cohesion policy of the European Union for 2014–20. This large-scale European experience provides a unique case study of a new type of industrial policy particularly oriented towards the modernisation of industrial sectors. In this paper, we briefly review the fundamentals of the S3 approach. We identify and discuss the main properties of S3 that make it particularly suited to the problem of sectoral modernisation in the context of a mature economy. In the final part, we describe the designing of this policy, which represents a crucial point: whilst the objective of modernising traditional sectors is not in itself anything new, the way of proceeding within the S3 framework is relatively new and innovative.

Suggested Citation

  • Dominique Foray, 2018. "Smart specialisation strategies and industrial modernisation in European regions—theory and practice1," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(6), pages 1505-1520.
    • Handle: RePEc:oup:cambje:v:42:y:2018:i:6:p:1505-1520.
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    File URL: http://hdl.handle.net/10.1093/cje/bey022
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    Citations

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    Cited by:

    1. James Wilson & Emily Wise & Madeline Smith, 2022. "Evidencing the benefits of cluster policies: towards a generalised framework of effects," Policy Sciences, Springer;Society of Policy Sciences, vol. 55(2), pages 369-391, June.
    2. Ivan-Damir Anić & Nicoletta Corrocher, 2022. "Patterns of value creation in policy-driven cluster initiatives: evidence from the croatian competitiveness clusters," Journal of Evolutionary Economics, Springer, vol. 32(2), pages 643-672, April.
    3. Laura Lecluyse & Mirjam Knockaert & André Spithoven, 2019. "The contribution of science parks: a literature review and future research agenda," The Journal of Technology Transfer, Springer, vol. 44(2), pages 559-595, April.
    4. Grashof, Nils, 2020. "Putting the watering can away Towards a targeted (problem-oriented) cluster policy framework," Papers in Innovation Studies 2020/4, Lund University, CIRCLE - Centre for Innovation Research.
    5. Grashof, Nils, 2021. "Putting the watering can away –Towards a targeted (problem-oriented) cluster policy framework," Research Policy, Elsevier, vol. 50(9).
    6. Igor Britchenko & Tetiana Romanchenko & Oleksandr Hladkyi, 2019. "Potential of Sustainable Regional Development in View of Smart Specialisation," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 88-109.
    7. Pasquale Pavone & Francesco Pagliacci & Margherita Russo & Simone Righi & Anna Giorgi, 2021. "Multidimensional Clustering of EU Regions: A Contribution to Orient Public Policies in Reducing Regional Disparities," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 156(2), pages 739-759, August.
    8. Paul Courtney & John Powell, 2020. "Evaluating Innovation in European Rural Development Programmes: Application of the Social Return on Investment (SROI) Method," Sustainability, MDPI, vol. 12(7), pages 1-25, March.
    9. Ricard Esparza-Masana, 2022. "Towards Smart Specialisation 2.0. Main Challenges When Updating Strategies," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(1), pages 635-655, March.
    10. Carmelina Bevilacqua & Ilaria Giada Anversa & Gianmarco Cantafio & Pasquale Pizzimenti, 2019. "Local Clusters as “Building Blocks” for Smart Specialization Strategies: A Dynamic SWOT Analysis Application in the Case of San Diego (US)," Sustainability, MDPI, vol. 11(19), pages 1-25, October.
    11. Ethan Gifford & Maureen McKelvey, 2019. "Knowledge-Intensive Entrepreneurship and S3: Conceptualizing Strategies for Sustainability," Sustainability, MDPI, vol. 11(18), pages 1-16, September.
    12. Masoumeh Ghorbani & Thomas Brenner, 2021. "Prerequisites and initial developments for economic specialization in lagging regions—A study of specialized villages in Iran," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 41(2), pages 229-268, October.
    13. João Romão, 2020. "Variety, Smart Specialization and Tourism Competitiveness," Sustainability, MDPI, vol. 12(14), pages 1-13, July.
    14. Han Chu & Robert Hassink & Dixiang Xie & Xiaohui Hu, 2023. "Placing the platform economy: the emerging, developing and upgrading of Taobao villages as a platform-based place making phenomenon in China," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 16(2), pages 319-334.
    15. Pasquale Pavone & Francesco Pagliacci & Margherita Russo & Anna Giorgi, 2019. "R&I smart specialisation strategies: classification of EU regions’ priorities. Results from automatic text analysis," Department of Economics 0148, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
    16. Evgeny N. Starikov & Marina V. Evseeva & Ilya V. Naumov, 2022. "Industrial growth and specialisation: The impact of the government support tools," Journal of New Economy, Ural State University of Economics, vol. 23(3), pages 86-108, October.

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