УДК 332.146

DOI: https://doi.org/10.36887/2415-8453-2023-3-59

Prasolova Kristina,
PhD student at the Department of Regional Studies and Tourism
Kyiv National Economic University named after Vadym Hetman

JEL classification: N10; О31; О14; О18; R58

The work is devoted to studying the prerequisites for implementing the smart specialization of regions to increase their competitiveness, stimulate economic growth, and promote sustainable development. Smart specialization focuses on identifying the unique competitive advantages of regions and creating conditions for developing innovative and high-tech industries. The article analyzes the key principles and mechanisms for implementing this strategy, particularly the role of partnership between science, business, and government in forming regional development strategies. The emphasis is on adapting European experience to local conditions, which is necessary for achieving sustainable economic development. The analysis of the main challenges and risks that arise from a misunderstanding of the concept of smart specialization, in particular its identification with traditional regional specialization, is presented. The article explores different approaches to interpreting the concept of smart specialization and considers new terms and concepts that arise in this context. The institutional, economic, and social prerequisites for the successful implementation of smart specialization are considered, among which the availability of innovative infrastructure, financial support, educational and scientific potential, and close interaction between key stakeholders occupy a special place. Particular attention is paid to the analysis of Ukraine’s regional features, which, despite the presence of significant potential, faces several problems. In particular, the lack of institutional coordination, a unified methodology, and the weak innovative capacity of small and medium-sized businesses are noted. The article presents recommendations for improving the implementation of smart specialization in Ukraine. Among them, the need to form a modern legal environment, develop innovative infrastructure, stimulate entrepreneurial activity, and increase the educational level of personnel in strategic industries is emphasized. Examples of successful application of smart specialization in other countries are given, which can serve as a guideline for developing effective regional strategies. The study’s results significantly contribute to developing regional management theory and practice. They aim to ensure sustainable economic development, integrate Ukraine into the European innovation space, and create competitive conditions for regional growth.

Keywords: smart specialization, regional development, innovation, competitiveness, economic growth, partnership, intellectual capital, scientific research, sustainable development, investments, development strategy.

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The article was received 28.07.2023