A Place-Based Developmental Regional Industrial Strategy for Sustainable Capture of Co-created Value

David Bailey, Christos Pitelis, Philip R Tomlinson

Research output: Contribution to journalArticle

23 Citations (Scopus)
1 Downloads (Pure)

Abstract

This paper critically assesses recent place-based approaches to industrial and regional policy epitomised in the EU’s 2020 ‘smart specialisation’ programme. It suggests that these are a move in the right direction in so far as they acknowledge ‘place’ as a key, constituent part of policy making. Drawing upon examples from across the world, we emphasise the importance of regions pursuing strategies that allow them to capture - in a sustainable way - a part of the value they help create and co-create with other entities, such as multinational firms and other organisations. This involves policymakers acting as public entrepreneurs, devising and implementing strategies, structures and policies to enable the regional eco-system and its constituent parts to capture value sustainably. In addition to the extant focus on linkages and embeddedness, a key aspect of this involves the adoption of regional value capture and positioning strategies.
Original languageEnglish
Pages (from-to)1521-1542
Number of pages22
JournalCambridge Journal of Economics
Volume42
Issue number6
Early online date9 Jul 2018
DOIs
Publication statusPublished - 9 Nov 2018

Keywords

  • Place-based industrial strategy
  • ecosystems
  • smart specialisation
  • value creation and capture
  • sustainable regional advantage

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