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Technologically related diversification: One size does not fit all European regions

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  • Barbero, Javier
  • Diukanova, Olga
  • Gianelle, Carlo
  • Salotti, Simone
  • Santoalha, Artur

Abstract

Building on the case of European Union (EU) regions, we study the macroeconomic impact of related diversification. We use an indicator of technological related variety in combination with stochastic frontier estimation and a well-established general equilibrium model to assess the rationale for related diversification and to understand the relevance of different region-specific policies. The results suggest that related diversification has a greater potential for less advanced regions than for more advanced ones. This has interesting implications for industrial policy, calling for a differentiated approach depending on the technological space and level of development of different regions.

Suggested Citation

  • Barbero, Javier & Diukanova, Olga & Gianelle, Carlo & Salotti, Simone & Santoalha, Artur, 2024. "Technologically related diversification: One size does not fit all European regions," Research Policy, Elsevier, vol. 53(3).
    • Handle: RePEc:eee:respol:v:53:y:2024:i:3:s0048733324000222
    DOI: 10.1016/j.respol.2024.104973
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    More about this item

    Keywords

    Innovation; Related diversification; Smart specialisation; Cohesion policy;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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