Scandinavian Working Papers in Economics

Papers in Innovation Studies,
Lund University, CIRCLE - Center for Innovation, Research and Competences in the Learning Economy

No 2015/12: Institutions, Smart Specialisation Dynamics and Policy

Markus Grillitsch ()
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Markus Grillitsch: CIRCLE, Lund University

Abstract: Smart specialisation features prominently in the European regional policy context. This paper discusses how the configuration of the regional institutional framework affects smart specialisation dynamics and policy. It elaborates why and how institutional diversity and integration promote entrepreneurial discovery processes, spillovers and agglomeration effects, and thereby structural change in regions. Policy challenges arising from the regional institutional framework are identified, discussed and related to well-research system failures of regional innovation systems.

Keywords: regional policy; smart specialisation; institutions; regional innovation systems; system failures

JEL-codes: B52; O17; O43; P48; R10; R11; R58

33 pages, February 26, 2015

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