Smart Specialization as a Tool to Foster Innovation in Emerging Economies: Lessons from Brazil

Anna Bosch () and Nicholas Vonortas ()
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Anna Bosch: George Washington University (USA)
Nicholas Vonortas: George Washington University (USA)

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2019, vol. 13, issue 1, 32-47

Abstract: This paper is about the policy concept of smart specialization (RIS3) and its potential for application in emerging economies. This is an important issue as emerging economies continue to struggle against the forces of globalization and targeted investments through RIS3 strategies that may help them boost their (regional) innovation economies. Thus far, RIS3 has mostly been implemented by industrialized EU economies. Due to the structural differences, success in emerging economies may require more extensive groundwork prior to the implementation of an RIS3 strategy. This is specifically noted in the Brazilian example: smart specialization requires careful planning, the country needs to address some of its general issues with lagging innovation before it can focus on successfully implementing an RIS3 strategy. We believe that such an approach would be appropriate for other countries at similar stages of economic development.

Keywords: smart specialization; science, technology and innovation (STI) policy; regional innovation system; regional development; policy learning; European Union; Brazil (search for similar items in EconPapers)
JEL-codes: O20 O21 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (3)

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