How 'Smart' are Smart Specialisation Strategies?

31 Pages Posted: 2 Dec 2020

See all articles by Marco Di Cataldo

Marco Di Cataldo

London School of Economics & Political Science (LSE) - Department of Geography and Environment; Ca' Foscari University of Venice, Department of Economics

Vassilis Monastiriotis

European Institute, LSE

Andrés Rodríguez-Pose

London School of Economics & Political Science (LSE) - London School of Economics

Date Written: November 1, 2020

Abstract

The introduction of Smart Specialisation (S3) as a fundamental pillar of the 2014 reform of the European Union (EU) Cohesion Policy has represented a significant strategic shift in European development intervention. S3 strategies are aimed at mobilising the economic potential of each country and region of the EU, by allowing a more place-based and bottom-up approach to development. However, despite the salience that S3 has acquired in a short period of time, there has been no European-wide evaluation of the extent to which S3 strategies truly reflect the economic characteristics and potential of the territories where they are being implemented. This paper examines the characteristics of S3 strategies across Europe â?? by focusing on their development axes, economic/scientific domains, and policy priorities â?? to assess whether this is the case. The results show that S3 strategies display a proliferation of objectives, a problem which particularly affects those areas with weaker government quality. Moreover, strategies are generally loosely connected with the intrinsic conditions of each region and mostly mimic what neighbouring areas are doing. The lack of more concise and focused S3 strategies is likely to undermine the effectiveness of what is, otherwise, a very interesting and worthwhile policy experiment.

JEL Classification: O52, R58

Suggested Citation

Di Cataldo, Marco and Monastiriotis, Vassilis and Rodríguez-Pose, Andrés, How 'Smart' are Smart Specialisation Strategies? (November 1, 2020). Available at SSRN: https://ssrn.com/abstract=3737575

Marco Di Cataldo (Contact Author)

London School of Economics & Political Science (LSE) - Department of Geography and Environment ( email )

Houghton Street
London, WC2A 2AE
United Kingdom

Ca' Foscari University of Venice, Department of Economics ( email )

Cannaregio 873
Venice, Veneto 30121
Italy

Vassilis Monastiriotis

European Institute, LSE ( email )

Houghton Street
WC2A 2AE London, London WC2A 2AE
United Kingdom

Andrés Rodríguez-Pose

London School of Economics & Political Science (LSE) - London School of Economics ( email )

United Kingdom

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