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Smart specialization policy in the European Union: relatedness, knowledge complexity and regional diversification

Author

Listed:
  • Pierre-Alexandre Balland

    (Department of Economic Geography, Urban and Regional Research Centre Utrecht - Universiteit Utrecht / Utrecht University [Utrecht])

  • Ron Boschma

    (Faculty of GoSciences, Department of Economic Geography - Universiteit Utrecht / Utrecht University [Utrecht], Universiteit Utrecht / Utrecht University [Utrecht])

  • Joan Crespo

    (LEREPS - Laboratoire d'Etude et de Recherche sur l'Economie, les Politiques et les Systèmes Sociaux - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - UT2J - Université Toulouse - Jean Jaurès - UT - Université de Toulouse - Institut d'Études Politiques [IEP] - Toulouse - ENSFEA - École Nationale Supérieure de Formation de l'Enseignement Agricole de Toulouse-Auzeville)

  • David Rigby

    (UCLA - University of California [Los Angeles] - UC - University of California)

Abstract
The operationalization of smart specialization policy has been rather limited because a coherent set of analytical tools to guide the policy directives remains elusive. We propose a policy framework around the concepts of relatedness and knowledge complexity. We show that diversifying into more complex technologies is attractive but difficult for European Union regions to accomplish. Regions can overcome this diversification dilemma by developing new complex technologies that build on local related capabilities. We use these findings to construct a policy framework for smart specialization that highlights the potential risks and rewards for regions of adopting competing diversification strategies.

Suggested Citation

  • Pierre-Alexandre Balland & Ron Boschma & Joan Crespo & David Rigby, 2018. "Smart specialization policy in the European Union: relatedness, knowledge complexity and regional diversification," Post-Print hal-01794372, HAL.
    • Handle: RePEc:hal:journl:hal-01794372
    DOI: 10.1080/00343404.2018.1437900
    as

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