MeasuringSmartSpecialisationTheconceptandtheneedforindicators.docVIP

Measuring Smart Specialisation: The concept and the need for indicators Paul .David, Dominique Foray, Bronwyn Hall Rationale for invigorating the RD specialisation policy discussion The currently fashionable keywords such as young radical innovators, fast movers and competitive entry, while reflecting an important policy issue for Europe, do not make much sense for many regions and countries that are not leaders in any of the major science and technology domains. For these kinds of regions, it seems more relevant and appropriate to construct a strategic vision of its future that asks how they should position themselves in the knowledge economy. Answering this question requires undertaking the discovery of which RD and innovation activities can best be developed competitively in that region. Such a discovery process, which should lead to a better correlation between RD and training specialization and the structures of the local economy, is at the heart of the so-called smart specialisation strategy. . Addressing the issue of specialisation in the RD and innovation is particularly crucial for the regions/countries which are not on a major science-technology frontier. Many would argue that these regions/countries need to increase the intensity of knowledge investments in the form of high education and vocational training, public and private RD, and other innovation-related activities, which is certainly true in general. The question is whether policy should spread that investment thinly across several frontier technology research fields, some in biotechnology, some in information technology, some in the several branches of nanotechnology, and, as a consequence, not making much of an impact in any one area, or whether there is a better alternative. A more promising strategy might be to encourage investment in programs that will complement the country’s other productive assets to create future domestic capability and interregional comparative advantage. We have termed