Chapter
Chapter 1 - Assessing EU Smart Specialization Policy in a Comparative Perspective
Rationales and Framework for Industrial Policy
Why are Industrial and Innovation Policies “Hard”?
A brief historical reminder
Key features of new industrial policies: a stylized picture
New approaches to industrial policy
Binding Constraints to Growth: Rodrik et al.; McKinsey Global Institute
Product Space and Export Product Complexity (Hausmann and Hidalgo): Trade-Based Specializations (Diversification) Approach
The Neo-Schumpeterian Approach of Keun Lee
The Schumpeterian Approach of Aghion et al.
Process (Evolutionary) View of Innovation (Industrial) Policy
EU Smart Specialization Approach
Challenges of smart specialization
Does SS Reflect Country/Region-Specific Challenges and Drivers of Technology Upgrading?
Inward Orientation and Weak Transnationalization of SS
Institutional Capacity for SS Policies
The Challenge of Implementation
SS Strategies Between New Industrial Policy and Political and Administrative Requirements
Implementation Failures and SS
Chapter 2 - The Economic Fundamentals of Smart Specialization Strategies
From horizontal policies to RIS31
The two facets of smart specialization strategies
The process of entrepreneurial discovery
Conceptualizing the Discovery Process
Describing the Phases of the Process
The Morphology of Priority Areas
Chapter 3 - Managing Self-Discovery: Diagnostic Monitoring of a Portfolio of Projects and Programs
Project portfolio and framework program as two key conceptual units of the new industrial policy1
Diagnostic (problem-solving) monitoring versus conventional (accounting) monitoring
Public Policy Initiatives in Biotechnology in India
Debt Management at the World Bank
Establishing a Schumpeterian (diagnostic monitoring) segment in RIS3 practice
Bringing in the Issue of Public Sector Coordination and Reform: RIS3 as a Framework Program
A Proposal for Diagnostic Monitoring Pilots for (Self-Selected) RIS3 Experiences
A Proposal for a Two-Track Selection of New RIS3 Cases
Conclusions: turning obstacles into variables
Chapter 4 - Smart Specialization as an Innovation-Driven Strategy for Economic Diversification: Examples From Scandinavian ...
Introduction: smart specialization—presentation and clarification
New path development for economic diversification
The cases: Scandinavian regions
Innovation and Diversification Potential
Strategies and Policies for New Path Development
Scania (Skåne), Southern Sweden2
Innovation and Diversification Potential
Strategies and Policy Priorities for New Path Development
Møre og Romsdal, North Western Norway3
Innovation and Diversification Potential
Strategies and Policy Priorities for New Path Development
Conclusions: comparative perspectives on smart specialization strategies in Scandinavian regions
Chapter 5 - Smart Specialization Policy in an Economically Well-Developed, Multilevel Governance System
Clarity and Ambiguity of Smart Specialization
Variation in the Economic Potential of Regions or Nations
Variation in the Regional Governance Set-Up and Multilevel Context
Variation in the Political Culture of Relevant Regional-Level Polities
A guiding framework for analysis
A seeming German paradox—background
Skeptical Regions (Standard Cases)
Chapter 6 - Innovation Policy in Southern Europe: Smart Specialization Versus Path Dependence
Evolution of EU Regional Development Policy
Evaluation of EU Regional Development Policy
A Success Story: Scientific Pockets of Excellence
Growth and competitiveness in Southern Europe
Why Case Studies are Important
The Basque Country: A Promising Case
Economic Structure and Performance
Regional Innovation Strategies: Past and Present
Lessons From the Case Study
Economic Structure and Performance
Regional Innovation Strategies: Past and Present
Lessons From the Case Study
Campania: A Disappointing Case
Economic Structure and Performance
Regional Innovation Strategies: Past and Present
Lessons From the Case Study
Central Macedonia: A Disappointing Case
Economic Structure and Performance
Regional Innovation Strategies: Past and Present
Lessons From the Case Study
Conclusions: the past and future of regional innovation strategies in Southern Europe
Chapter 7 - Smart Specialization in the US Context; Lessons From the Growth of the Albany, New York Nanotechnology Cluster
Tech Valley—sustaining momentum
Evolving Federal Regional Policy
The New Manufacturing Initiative
The problem: long-term economic decline
Government/Industry/University Collaboration
The Move to Semiconductor Manufacturing
Role of Development Organizations
Manufacturing Infrastructure
Workforce Initiatives and Education
Diversifying the Nanotech Economy
National Interests at Stake in Tech Valley
Conclusions; core lessons from the New York experience
Chapter 8 - New Structural Economics and Industrial Policies for Catching-Up Economies
Why we need to rethink development economics
What is new structural economics?
New structural economics and smart industrial policy for developing countries
Type I: Catching-Up Industries
Type II: Leading Edge Industries
Type III: Comparative Advantage—Losing Industries
Type IV: “Corner-Overtaking” Industries
Type V: Strategic Industries
Chapter 9 - Smart Specialization With Short-Cycle Technologies and Implementation Strategies to Avoid Target and Design Fai...
Criteria for specialization
Traditional, Endowment-Based Comparative Advantages
Dynamic or Latent Comparative Advantages
Product Spaces and Diversification
Criteria for Technological Specialization
Requirements of Viable Criteria
Specializing in short-cycle technology–based sectors
Implementing the ideas: avoiding failures in targeting versus designing
Avoiding Targeting Failure
Avoiding the Design Failure
A Scheme for the Two Types of Upgrading Diversification
Space for Industrial Policy under the WTO Regime
Summary and concluding remarks
Chapter 10 - Lessons for a Policy Maker From Real-Life Self-Discovery in Economies With Weak Institutions
Entrepreneurial discovery in two contrasting policy perspectives
Empirical illustration of the three-staged policy model
Microlevel: First Mover Problem—IPG-Photonics and INVAP
Mezzo-Level: Collective Action Problem in Argentinian Wine Clusters
Two Wine Clusters in Argentina
Global-Level: High-Tech Cluster of Israel
Resolving the collective action problem; the need for complementarity of diverse public support policies
Chapter 11 - Transnationalizing Smart Specialization Strategy
Engaging with GVCs—what are the possibilities?
What is required from a RIS3 perspective?
A systematic approach to transnationalizing a smart specialization strategy
Chapter 12 - Can Smart Specialization and Entrepreneurial Discovery be Organized by the Government? Lessons from Central an...
Entrepreneurial discovery and the diversity of policy contexts in the European Union
Organizing entrepreneurial discovery in CEE
Organizing ED in the Baltic States
Organizing ED in Central Europe
Chapter 13 - From Strategy to Implementation: The Real Challenge for Smart Specialization Policy
A framework for assessing S3: the policy cycle, instruments, dimensions, and interactions
Assessing S3 implementation in four countries: are policy instruments coherent with S3 rhetoric?
From Smart Specialization Strategy to Implementation: Four Cases
Conclusions and lessons from S3 implementation
Chapter 14 - Entrepreneurial Discovery as a Foresight for Smart Specialization: Trade-Offs of Inclusive and Evidence-Based ...
A template for smart specialization?
Inclusive evidence and argument-based consensus: a national RIS3 in Romania
Developing the Evidence Base Through “Knowledge Maps”
Limitations of Subsequent Use
Limitations of “depoliticization”
Chapter 15 - Advancing Theory and Practice of Smart Specialization: Key Messages
Smart Specialization as a Case of Incomplete New Industrial Innovation Policy
Challenge of Identifying Country- and Region-Specific Sources of Technological Opportunities
Differences in Institutional Thickness and Viability of the Smart Specialization Process
A Neglect of Global Value Chains as Levers of a Smart Specialization Transformative Agenda
Smart Specialization as a Technical Exercise in Priority Determination and as a Sociopolitical Bargaining Process
What can the European Union’s Smart Specialization Teach Non-EU Regions and Countries?
Advances in the Theory and Practice of Smart Specialization
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