Designing Smart Specialization Policy: relatedness, unrelatedness, or what?
No 2128, Papers in Evolutionary Economic Geography (PEEG) from Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography
A key objective of Smart Specialization Strategies (S3) is to stimulate related diversification in European regions, rather than unrelated diversification. This chapter will outline the pros and cons of S3 with a prime focus on either related or unrelated diversification. We argue it depends on the specific regional situation which type of S3 to pursue. While there are good reasons to promote related diversification in general, regions may become over-specialized or trapped in a low-complex economy that might warrant a S3 focus on unrelated diversification.
Keywords: Smart specialization; related diversification; unrelated diversification; regional diversification; complexity (search for similar items in EconPapers)
JEL-codes: O25 O38 R11 (search for similar items in EconPapers)
Date: 2021-09, Revised 2021-09
New Economics Papers: this item is included in nep-geo, nep-ino, nep-isf, nep-tid and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:egu:wpaper:2128
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