Complexity Economics and Innovation Systems

Abstract

Knowledge determines the relationship between regional development and innovation in a knowledge-based economy. The Mersin Regional Innovation Strategy (RIS) Plus Project is based on the European Union's new regional innovation strategy referred to as ‘smart specialization' that is related with industrialization and economic development. This approach is an indicator of the change and transformation in the regional development paradigm in terms of knowledge generation and innovation processes. These developments also reflect the impact of complexity in the philosophy and understanding of the 21st century. Complexity Science and Complexity Economics have increasingly become determinants in the formation of institutional structures and policies within the global economic system. This chapter aims to evaluate the basic characteristics of Mersin RIS Plus Project within the framework of complexity science. This study discusses the development potentials of Mersin and TR62 regions in accordance with the scientific and theoretical basis of the project, and policy proposals are suggested.