A place-based developmental regional industrial strategy for sustainable capture of co-created value

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 policymaking. 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 ecosystem 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.

Publication DOI: https://doi.org/10.1093/cje/bey019
Divisions: College of Business and Social Sciences > Aston Business School > Economics, Finance & Entrepreneurship
College of Business and Social Sciences > School of Social Sciences & Humanities > Aston Centre for Europe
Publication ISSN: 1464-3545
Last Modified: 26 Feb 2024 08:25
Date Deposited: 25 Jun 2019 10:08
Full Text Link: https://researc ... rategy-for-sust
Related URLs: https://academi ... /bey019/5050584 (Publisher URL)
PURE Output Type: Article
Published Date: 2018-11-01
Published Online Date: 2018-07-09
Accepted Date: 2018-03-16
Authors: Bailey, David (ORCID Profile 0000-0002-1956-0556)
Pitelis, Christos
Tomlinson, Philip R

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