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Smart Specialization as an innovation-driven strategy for economic diversification: Examples from Scandinavian regions

Author

Listed:
  • Asheim, Bjørn

    () (University of Stavanger)

  • Grillitsch, Markus

    () (CIRCLE, Lund University)

  • Trippl, Michaela

    () (CIRCLE, Lund University)

Abstract

This book chapter provides conceptual and empirical foundations for smart specialisation, a policy approach of far-reaching importance in the European context. We interpret the very notion as “diversified” specialisation into areas of existing or potential competitive advantage, which differentiates a region/nation from others. “Smart” relates to the identification of these areas through a process of entrepreneurial discovery, in which all actors are mobilized to be able to discover domains for securing existing and future competitiveness. Competitive advantage through smart specialization can be promoted in all types of industries but based on the industry specific modes of innovation and knowledge bases, which is illustrated through case studies in Denmark, Sweden, and Norway. Depending on the preconditions, we find that variegated strategies of smart specialisation are pursued, including building the absorptive capacity of DUI based firms by increasing their research based competence (introducing analytical knowledge), combining unrelated knowledge bases to move into new related and unrelated industries, combining related knowledge bases to move into unrelated industries, and moving into high-value added niches by introducing symbolic knowledge in traditional sectors.

Suggested Citation

  • Asheim, Bjørn & Grillitsch, Markus & Trippl, Michaela, 2016. "Smart Specialization as an innovation-driven strategy for economic diversification: Examples from Scandinavian regions," Papers in Innovation Studies 2016/23, Lund University, CIRCLE - Center for Innovation, Research and Competences in the Learning Economy.
  • Handle: RePEc:hhs:lucirc:2016_023
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    Keywords

    Smart specialisation; policy; innovation; economic diversification; entrepreneurial discovery; knowledge bases; new path development; competitive advantage; regions;

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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