The Role of Smart Specialisation Strategy in Economic Recovery and Sustainable Development in the Post COVID-19 Era

Štrbac, Dijana and Vasilić, Nikola (2022) The Role of Smart Specialisation Strategy in Economic Recovery and Sustainable Development in the Post COVID-19 Era. In: XLIX International Symposium on Operational Research, SYM-OP-IS 2022, Vrnjačka Banja, 19-22. September. The Publishing Centre of the Faculty of Economics, Belgrade, pp. 327-332. ISBN 978-86-403-1750-4

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Abstract

Smart specialisation is an innovation policy concept which aims to develop competitive advantages of regions/countries based on their innovation potential and applying evidence-based analysis. The objective of this paper is to analyse the potential of smart specialisation strategies (S3) to support economic recovery after the crisis caused by the Covid-19 pandemic and support sustainability imposed as one of the most important pillars of the new EU growth strategy. The results of the conducted analysis indicate that: 1) smart specialisation strategies are economic transformation agendas based on identifying key national/regional priorities, 2) selection of S3 priorities is based on the analysis of innovative, scientific and economic potential as well as relevant societal challenges, 3) S3 is highly accepted approach not only in the EU and enlargement countries, but also worldwide, 4) S3 is an effective tool for the economic recovery after the Covid-19 crisis and achieving sustainable development goals.

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