Smart specialization and sustainable regional growth

Abstract

Recent transition to the sustainable economy distinguished by the specialization and digitalization market the pathways for the regional development. This process is considerably helped by the profound social and political transformative potential which is subjected to social innovations and smart potential. This paper shows how the social innovations and smart specialization might influence the sustainable growth of countries and regions with a special focus on building an efficient economic, social and institutional environment for the benefits of all agents on the market. In addition, it argues that smart specialization might also contribute to the competitiveness and well-balanced sustainable development of regions and territories.