By Mark Thissen

Areas economically fluctuate from one another - they compete in several items and geographical areas, show diversified strengths and weaknesses, and supply diverse probabilities for development and improvement. What fosters progress in a single sector might impede it in one other. This hugely unique publication offers an obtainable technique for deciding upon opponents and their specific situations in Europe, discusses local competitiveness from a conceptual viewpoint, and explores either previous and destiny nearby improvement rules in Europe. The authors illustrate that for the concept that of neighborhood pageant to be valued effectively, it may no longer completely be pointed out by means of the structural asset features of towns and areas. They hence current an designated utilized analytic framework that takes under consideration economically valued community kin among locations of (mobile) creation elements and traded items. Underpinned with thorough research and conception, the framework makes use of real networks of competing and economically valued relatives among areas to assist constructing shrewdpermanent specialization options which are crucial within the place-based coverage projects of the recent eu harmony coverage. This path-breaking e-book provides an important contribution to the present educational dialogue on local competitiveness and the coverage debate on clever specialization, place-based improvement and team spirit coverage within the ecu Union. As such it is going to end up a useful learn for teachers, researchers, scholars and policymakers with an curiosity in economics - relatively utilized neighborhood economics, ecu stories, and nearby reviews.

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Moreover, it discusses agglomeration forces leading towards a dynamic and self-­enforcing process of increased agglomeration and higher welfare of the population in these agglomerations. These welfare effects were generated by a love of variety for consumers and a supply of varieties that increased with the economic size of a region. This love of variety is based on small differences between products that fit to the specific needs of different customers. A higher supply of varieties will therefore lead to a higher level of welfare.

Process benchmarks are based on qualitative data on structures and processes in regions. This often focuses on institutional best practices that can be applied in one’s own region. Policy benchmarks are based on qualitative data, and compare policies between regions (Lundvall and Tomlinson, 2002; Borras and Tsagdis, 2008). Regions can learn from successful policy initiatives elsewhere. 2 An Applied Analytical Framework: Revealed Competition and Trade Networks The trouble with many (if not all) performance rankings is, though, that they tend to combine unlike industries and indicators into aggregates that obscure important differences.

Because the original smart specialization concept arose out of the literature on the transatlantic productivity gap, it initially emphasized the importance of R&D, and in particular in high-­technology sectors. Smart specialization, regional innovation systems and EU cohesion policy ­27 However, as we move through the nine policy briefs produced by the Knowledge for Growth expert group between 2006 and 2009, it is possible to discern a marked shift away from the early emphasis on R&D, and in particular on multinational R&D, through to institutional and governance issues relating to knowledge dissemination, and finally towards technological specialization based on the adoption, dissemination and adaptation of GPTs, primarily understood as ICTs, across a wide range of sectors.

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