A Smart specialization strategy for sustainable development of regions

Abstract

Changes in the global economy facilitated the creation of new strategies and models for socio-economic development of countries and areas. The transition to a digital technological level, the strengthened role of the civil society and the priority of national interests determine the necessity to search for tools to provide a sustainable and coordinated development of territories, creating a favorable economic, social and institutional environment and conditions for a well-balanced interaction of all participants on the market. One of the tools for highly effective transformations is social innovation, which has a huge socio-political transformative potential. The article presents the theoretical basis and the opportunities for practical implementation of the strategy for smart specialization of regions. It shows the application of helix models and social innovations in strengthening the socio-economic position of regions and increasing their competitiveness and sustainability.