Taking into Account the Human Factor in Regional Innovation Systems and Policies

G. Martinidis (), N. Komninos and E. Carayannis
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G. Martinidis: Aristotle University of Thessaloniki
N. Komninos: Aristotle University of Thessaloniki
E. Carayannis: George Washington University School of Business

Journal of the Knowledge Economy, 2022, vol. 13, issue 2, No 4, 849-879

Abstract: Abstract Innovation is considered a key driver for economic growth and is usually studied in the form of systems, with the regional level being arguably the most important. Despite constantly improving technological infrastructure, the human-related aspects of innovation are still the most important part of the innovation process. The human factor in innovation essentially consists of three components: (1) human capital, which refers to education, knowledge, and skills; (2) social capital, which refers to the strength of social links and social coherence; and (3) psychological capital, which refers to peoples’ values, attitudes, and behaviors. The research findings confirmed this view and showed which specific indicators of the three types of capital had a significant impact on innovation output. A new, extended regional innovation scoreboard emphasizing the human factor, is proposed. Also, based on the findings, and bearing in mind current EU innovation policies, a number of measures are proposed in order to suggest “more human” smart specialization policies in order to increase innovation in European regions and coherence between them.

Keywords: Innovation; Regional development; Innovation policy; Human capital; Human resources; Social capital; Psychological capital (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s13132-021-00722-z

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