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Regional Underdevelopment and Less Developed Business Ecosystems: The Case of Eastern Macedonia and Thrace

Author

Listed:
  • Vlados, Charis

    (Democritus University of Thrace, Department of Economics)

  • Chatzinikolaou, Dimos

    (Democritus University of Thrace, Department of Economics)

  • Katimertzopoulos, Fotios

    (Democritus University of Thrace, Department of Economics)

  • Koutroukis, Theodore

    (Democritus University of Thrace, Department of Economics)

Abstract
This article aims to highlight the different facets of the relative socio-economic underdevelopment of the Greek region of Eastern Macedonia and Thrace. It explores initially regional analysis data, leading to the conclusion that the region does indeed face comparative weaknesses as it exhibits multiplier results and specialization in areas with the lowest value-added and employment. It then presents the main conclusions about small and micro firms of this less developed business ecosystem. It concludes that the region has structural competitiveness problems that are primarily due to the competitiveness of the firms that can host and nurture. The strengthening of competitiveness of this regional business ecosystem requires the improvement of the innovative potential that, in a triple helix condition, is the result of the evolutionary interconnection between local-regional firms, government, and academia. To this end, the proposal to establish a Local Development and Innovation Institute constitutes a new regional policy that can be applied to the region and strengthen the innovative potential of the entire regional business ecosystem.

Suggested Citation

  • Vlados, Charis & Chatzinikolaou, Dimos & Katimertzopoulos, Fotios & Koutroukis, Theodore, 2019. "Regional Underdevelopment and Less Developed Business Ecosystems: The Case of Eastern Macedonia and Thrace," DUTH Research Papers in Economics 33-2019, Democritus University of Thrace, Department of Economics.
    • Handle: RePEc:ris:duthrp:2019_033
    Note: Bulletin of Applied Economics. Vol. 6, No. 2, pp. 31-44.
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    References listed on IDEAS

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    Cited by:

    1. Charis Vlados & Dimos Chatzinikolaou, 2020. "Stra.Tech.Man innovation, HRM and Perception of Educational Needs in Underdeveloped Business Ecosystems: The Case of Retail Sector Firms in Eastern Macedonia and Thrace," International Journal of Human Resource Studies, Macrothink Institute, vol. 10(2), pages 330354-3303, December.
    2. Katimertzopoulos, Fotios & Vlados, Charis & Koutroukis, Theodore, 2020. "Regional Innovation Systems and Less Developed Business Ecosystems: Fundamental Concepts and Theoretical Trends," DUTH Research Papers in Economics 7-2020, Democritus University of Thrace, Department of Economics.

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    More about this item

    Keywords

    Underdeveloped regional business ecosystem; Eastern Macedonia and Thrace (REMTh); Stra.Tech.Man Lab research team; Regional triple helix; Local Development and Innovation Institutes;
    All these keywords.

    JEL classification:

    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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