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A place-based developmental regional industrial strategy for sustainable capture of co-created value

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  • David Bailey
  • Christos Pitelis
  • Philip R Tomlinson

Abstract

This paper critically assesses recent place-based approaches to industrial and regional policy epitomised in the EU’s 2020 ‘smart specialisation’ programme. It suggests that these are a move in the right direction in so far as they acknowledge ‘place’ as a key, constituent part of policymaking. Drawing upon examples from across the world, we emphasise the importance of regions pursuing strategies that allow them to capture—in a sustainable way—a part of the value they help create and co-create with other entities, such as multinational firms and other organisations. This involves policymakers acting as public entrepreneurs, devising and implementing strategies, structures and policies to enable the regional ecosystem and its constituent parts to capture value sustainably. In addition to the extant focus on linkages and embeddedness, a key aspect of this involves the adoption of regional value capture and positioning strategies.

Suggested Citation

  • David Bailey & Christos Pitelis & Philip R Tomlinson, 2018. "A place-based developmental regional industrial strategy for sustainable capture of co-created value," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(6), pages 1521-1542.
    • Handle: RePEc:oup:cambje:v:42:y:2018:i:6:p:1521-1542.
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    File URL: http://hdl.handle.net/10.1093/cje/bey019
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    Citations

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    Cited by:

    1. Ellalee, Haider & Alali, Walid Y., 2018. "FDI, Industrial Policy and Employment Impacts on Brexit," MPRA Paper 117507, University Library of Munich, Germany, revised 20 Oct 2018.
    2. Diogo Ferraz & Fernanda P. S. Falguera & Enzo B. Mariano & Dominik Hartmann, 2021. "Linking Economic Complexity, Diversification, and Industrial Policy with Sustainable Development: A Structured Literature Review," Sustainability, MDPI, vol. 13(3), pages 1-29, January.
    3. Andrew Johnston & Peter Wells, 2020. "Assessing the role of universities in a place-based Industrial Strategy: Evidence from the UK," Local Economy, London South Bank University, vol. 35(4), pages 384-402, June.
    4. Hui Qian & Min Ye & Jingjiang Liu & Dongfeng Gao, 2022. "Evaluation of and Policy Measures for the Sustainable Development of National Experimental Teaching Demonstration Centers in Chinese Universities and Colleges," SAGE Open, , vol. 12(1), pages 21582440211, January.
    5. Uyarra, Elvira & Zabala-Iturriagagoitia, Jon Mikel & Flanagan, Kieron & Magro, Edurne, 2020. "Public procurement, innovation and industrial policy: Rationales, roles, capabilities and implementation," Research Policy, Elsevier, vol. 49(1).
    6. PONTIKAKIS Dimitrios & FERNANDEZ SIRERA Tatiana & JANSSEN Matthijs & GUY Ken & MARQUES SANTOS Anabela & BODEN John Mark & MONCADA PATERNO' CASTELLO Pietro, 2020. "Projecting Opportunities for INdustrial Transitions (POINT): Concepts, rationales and methodological guidelines for territorial reviews of industrial transition," JRC Research Reports JRC121439, Joint Research Centre.
    7. Rogerson Christian M., 2020. "Using Municipal Tourism Assets for Leveraging Local Economic Development in South Africa," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 48(48), pages 47-63, June.
    8. Gräbner, Claudius & Hafele, Jakob, 2020. "The emergence of core-periphery structures in the European Union: A complexity perspective," ZOE Discussion Papers 6, ZOE. institute for future-fit economies, Bonn.
    9. Xu, Tao Louie & Hu, Yabei, 2024. "Towards sustainable prosperity? Policy evaluation of Jiangsu advanced manufacturing clusters," Technology in Society, Elsevier, vol. 77(C).
    10. David Morris & Enrico Vanino & Carlo Corradini, 2020. "Effect of regional skill gaps and skill shortages on firm productivity," Environment and Planning A, , vol. 52(5), pages 933-952, August.
    11. Xu, Tao & Hu, Yabei, 2023. "Towards Sustainable Prosperity? Policy Evaluation of Jiangsu Advanced Manufacturing Clusters," MPRA Paper 120904, University Library of Munich, Germany, revised 10 May 2024.
    12. Steve Fothergill & Tony Gore & Peter Wells, 2019. "Industrial strategy and the UK regions: sectorally narrow and spatially blind," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 12(3), pages 445-466.
    13. Marcella De Martino, 2021. "Value Creation for Sustainability in Port: Perspectives of Analysis and Future Research Directions," Sustainability, MDPI, vol. 13(21), pages 1-17, November.
    14. Marco Bellandi & Silvia Lombardi & Erica Santini, 2020. "Traditional manufacturing areas and the emergence of product-service systems: the case of Italy," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 47(2), pages 311-331, June.
    15. Daria S. Bents & Aleksandr V. Rezepin, 2023. "Medium-term trends in economic and technological development of metals industry regions," Journal of New Economy, Ural State University of Economics, vol. 24(3), pages 91-118, October.
    16. Christopher Meyer & Laima Gerlitz & Monika Klein, 2022. "Creativity as a Key Constituent for Smart Specialization Strategies (S3), What Is in It for Peripheral Regions? Co-creating Sustainable and Resilient Tourism with Cultural and Creative Industries," Sustainability, MDPI, vol. 14(6), pages 1-31, March.
    17. Alali, Walid Y. & Ellalee, Haider, 2018. "FDI, Industrial Policy and Employment Impacts on Brexit," EconStor Preprints 274656, ZBW - Leibniz Information Centre for Economics.

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