Affiliation:
1. Department of Economics University of Piraeus Piraeus Greece
2. School of Social Sciences, Hellenic Open University Patra Greece
3. Department of Economics Athens University of Economics and Business Athens Greece
Abstract
AbstractIn regions of meagre technology and market activities, traditional innovation metrics (patents and trademarks filed at international offices) may provide limited insight of the mechanisms of regional diversification and therefore policies, including smart specialization. We argue that in such regions, innovation activity, of lower value, can become the seed needed to grow to innovation of international calibre. We provide support by examining both domestic and international patent and trademark activity for Greece's NUTS 3 regions during 2000–2016. We further implement the principle of relatedness and show that regions with related technology (market) capabilities are more likely to exhibit new technology (market) specializations.
Subject
Environmental Science (miscellaneous),Geography, Planning and Development