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Science, technology, and innovation for economic competitiveness: The role of smart specialization in less-developed countries

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  • Krammer, Sorin M.S.

Abstract

Smart specialization (SS) is a policy concept that has gained significant momentum in Europe despite a frail theoretical background and implementation difficulties. These challenges become critical in the case of less-developed economies that often lack regional autonomy, a strong STI base, and local capabilities to identify and sustain such SS strategies. Combining elements from evolutionary economics and the export-led literature, I propose a framework that anchors the role of SS in the national innovation policy of such laggards, as a complementary avenue for improving competitiveness and growth. Moreover, to assist policy makers in lagging regions or countries, I advance a diagnostic tool to identify potential areas for SS, and also address the systemic and the regional-sectoral bottlenecks in these domains. I exemplify the use of this tool in the case of Bulgaria by using a large battery of quantitative and qualitative indicators from publicly available data. This type of investigation may be useful for other less-developed economies to kick-start this process and identify prima facie SS candidates.

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  • Krammer, Sorin M.S., 2017. "Science, technology, and innovation for economic competitiveness: The role of smart specialization in less-developed countries," Technological Forecasting and Social Change, Elsevier, vol. 123(C), pages 95-107.
    • Handle: RePEc:eee:tefoso:v:123:y:2017:i:c:p:95-107
    DOI: 10.1016/j.techfore.2017.06.028
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    5. Sonia Mileva & Kosta Bentchev, 2023. "Some Dependencies Between Innovation, The Economy And Income," Yearbook of the Faculty of Economics and Business Administration, Sofia University, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria, vol. 22(1), pages 93-108, October.
    6. Nikolić Nenad & Jovanović Ivan & Nikolić Đorđe & Mihajlović Ivan & Schulte Peter, 2019. "Investigation of the Factors Influencing SME Failure as a Function of Its Prevention and Fast Recovery after Failure," Entrepreneurship Research Journal, De Gruyter, vol. 9(3), pages 1-21, July.
    7. Adedoyin, Festus Fatai & Mavengere, Nicholas & Mutanga, Alfred, 2022. "A simulation experiment on ICT and patent intensity in South Africa: An application of the novel dynamic ARDL machine learning model," Technological Forecasting and Social Change, Elsevier, vol. 185(C).
    8. Peter Mugo & Jimmy Macharia, 2020. "Technological innovation and competitive advantage in telecommunication companies in Kenya," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 9(5), pages 38-47, September.
    9. Komlósi, Éva & Sebestyén, Tamás & Tóth-Pajor, Ákos & Bedő, Zsolt, 2022. "Do specific entrepreneurial ecosystems favor high-level networking while others not? Lessons from the Hungarian IT sector," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    10. Krzysztof Malik & Lukasz Mach & Marzena Szewczuk-Stepien & Piotr Bebenek, 2020. "Specialization Integrated Strategy of Innovations: Effective Model for Emerging Regional Economy Development?," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 78-97.
    11. Laima Gerlitz & Christopher Meyer & Christopher Meyer & Gunnar Prause & Gunnar Prause, 2020. "Methodology approach on benchmarking Regional Innovation on Smart Specialisation (RIS3): a joint macro-regional tool to regional performance evaluation and monitoring in Central Europe," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(2), pages 1359-1385, December.
    12. László Szerb & Raquel Ortega‐Argilés & Zoltan J. Acs & Éva Komlósi, 2020. "Optimizing entrepreneurial development processes for smart specialization in the European Union," Papers in Regional Science, Wiley Blackwell, vol. 99(5), pages 1413-1457, October.
    13. Bakhsh, Satar & Zhang, Wei & Ali, Kishwar & Anas, Muhammad, 2024. "Transition towards environmental sustainability through financial inclusion, and digitalization in China: Evidence from novel quantile-on-quantile regression and wavelet coherence approach," Technological Forecasting and Social Change, Elsevier, vol. 198(C).
    14. Krammer, Sorin M.S. & Jiménez, Alfredo, 2020. "Do political connections matter for firm innovation? Evidence from emerging markets in Central Asia and Eastern Europe," Technological Forecasting and Social Change, Elsevier, vol. 151(C).

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