The governance of regional innovation policy and its economic implications
Entity
UAM. Departamento de Psicología Biológica y de la SaludPublisher
SpringerDate
2023-09-01Citation
10.1007/s00168-023-01241-2
The Annals of Regional Science (2023): 01 Sep 2023
ISSN
0570-1864DOI
10.1007/s00168-023-01241-2Editor's Version
https://doi.org/10.1007/s00168-023-01241-2Subjects
European innovation policy; economic implications; Smart Specialisation; PsicologíaRights
© The Author(s) 2023Abstract
This paper provides insights on the potential macroeconomic impact of the governance of the European innovation policy called Smart Specialisation. We use original empirical data on the implementation of the policy, which is funded through a dedicated financial envelope of the 2014–2020 EU cohesion policy, in a spatial macroeconomic modelling framework capable of gauging the general equilibrium effects of varying degrees of governance quality. Our contribution aims at narrowing the gap between the abstraction of ex-ante impact assessment exercises based on macroeconomic simulations and the reality of how policy interventions may take place. By using data for all Italian NUTS 2 regions, we find that the measured quality of Smart Specialisation governance could increase the pure investment-related impact of the policy by up to 40 percent. At the same time, we estimate that further potential GDP gains—in the order of an additional 40–50 percent over what was achieved with the observed levels of governance—would not materialise because of the comparatively low quality of governance in some regions
Files in this item
Google Scholar:Gianelle, Carlo
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Guzzo, Fabrizio
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Barbero Gutiérrez, Jose Javier
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Salotti, Simone
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