Innovation Driven Growth in Regions

imageThe OECD has published a report on “Innovation-driven Growth in Regions: The Role of Smart Specialisation”.

The report aims to bridge the gap between theory and implementation through case studies that illustrate the conditions in which the concept of smart specialisation can be used to design better public policies for boosting innovation driven growth in OECD regions.

The report emphasises the need for robust framework conditions, which allow market-driven allocation of innovation, capital and labour – only competitive and open markets are amenable to innovation. But smart specialisation also establishes the need for government to listen to market signals when allocating budgets for investment in knowledge and innovation across different fields and sectors.

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