New indicators of related diversification applied to smart specialization in European regions
In a new publication in Spatial Economic Analysis, Artur Santoalha proposes two new indicators of related diversification applied to Smart Specialization.
The policy concept known as Smart Specialization has become increasingly important However, an accepted framework for quantitatively measuring this concept seems to be lacking. According to Foray et al. Smart Specialization is ‘a perfect example of “policy running ahead of theory”’ (p. 1) – policy-makers are already developing policy initiatives towards Smart Specialization, without the tools necessary for measuring it or understanding it in terms of theory. The absence of such a framework constitutes a gap that this paper seeks to close, at least in part.