Economic impact modeling in the prioritization process of smart specialization

Authors: Attila Varga, Regional Innovation and Entrepreneurship Research Center and Department of Economics and Econometrics, Faculty of Business and Economics, University of Pécs, Zsolt Bedő, Regional Innovation and Entrepreneurship Research Center and Department of Management Science, Faculty of Business and Economics, University of Pécs, Katalin Erdős, Regional Innovation and Entrepreneurship Research Center and Department of Economics and Econometrics, Faculty of Business and Economics, University of Pécs, Norbert Szabó*, Regional Innovation and Entrepreneurship Research Center and Department of Economics and Econometrics, Faculty of Business and Economics, University of Pécs
Topics: Economic Geography
Keywords: Smart specialisation, GMR-Hungary, Economic impact assessment, Spatial CGE modeling
Session Type: Paper
Day: 4/4/2019
Start / End Time: 8:00 AM / 9:40 AM
Room: Diplomat Room, Omni, West
Presentation File: No File Uploaded


Contrary to what is a common practice in the evaluation of traditional cohesion policy instruments (e.g., R&D, human capital or infrastructure investment subsidies) economic impact modelling has not yet found its place in the evaluation of smart specialisation strategies. Though the necessity of economic impact assessment is emphasised in the theoretical contributions of the smart specialisation literature (e.g., Foray 2015) the practical methodology is still an open issue. In this paper we study the local and national impacts of alternative smart specialisation paths for Pécs, a Hungarian city-region. We follow the steps in prioritisation suggested by the smart specialisation literature. Accordingly, we start with the analysis of the novelty of discoveries followed by the assessment of their embeddedness in the economic structure of the region, their spillover potential and the likely impacts of different supporting policies. The comparison of alternative development paths for different discoveries will lead us to draft some initial policy suggestions.

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