Abstract
The paper considers the special features of applying the concept of smart specialization in the old industrial coal-mining regions to implementing the strategy for future sustainable development of the regions, as well as providing recommendations for ensuring the compliance of the institutional environment in such regions of Ukraine with the principles and organizational requirements for the implementation of this concept. The research is methodologically based on the theoretical principles of the evolutionary economics, in particular, on the concepts of path dependency, lock-ins, and others. As an initial step towards creating new path development of old industrial coal-mining areas, the paper proposes to forming institutional and organizational foundations for the development of industries built on the principles of circular economy. It can be done by returning waste from coal-mining and coal enrichment into production cycles using innovative technologies. It is proved that in the case of the of smart specialization concept application in the conditions of the old coal-mining regions it should be necessary to take a number of institutional measures, the main ones of which are proposed in the paper.
Highlights
The emergence of new players in the global markets and amplification of resources constraints as well as higher environmental requirements – all these lead to changes in competitiveness of local business firms, individual industries, the whole areas of economic activity in some regions and worsen their social and economic well-being.One of the key topics in economic and social literature devoted to regional development issues is a question, why some regions cope with a decline in dominant economic sectors and renew the economic growth and social resilience while other ones continue to Journal of European Economy Vol 17
The aim of this paper is to identify the peculiarities of application of the concept of smart specialization for formation of economic basics for ensuring the future sustainable development of the old industrial coal-mining regions, as well as to assess the compliance of the institutional environment in such regions of Ukraine with the principles and organizational requirements for the implementation of this concept
The old industrial coalmining territories in Ukraine are threatened with complete degradation and transformation into abandoned ones with severe environmental and social situation after the discontinuation of intensive coal mining activities, unless measures to diversify economic activity in these territories are implemented
Summary
The emergence of new players in the global markets and amplification of resources constraints as well as higher environmental requirements – all these lead to changes in competitiveness of local business firms, individual industries, the whole areas of economic activity in some regions and worsen their social and economic well-being.One of the key topics in economic and social literature devoted to regional development issues is a question, why some regions cope with a decline in dominant economic sectors and renew the economic growth and social resilience while other ones continue to Journal of European Economy Vol 17. The aim of this paper is to identify the peculiarities of application of the concept of smart specialization for formation of economic basics for ensuring the future sustainable development of the old industrial coal-mining regions, as well as to assess the compliance of the institutional environment in such regions of Ukraine with the principles and organizational requirements for the implementation of this concept. The process of policy measureselaborating in the frame of RIS3 incorporates elements of both horizontal and vertical policies, that will result in identifying and selecting priority areas (economic activities, technologies, and infrastructures) for targeted support of innovative development of specific regions and countries Such an approach is certainly justified, but it does not deny the necessity and effectiveness of local communities’ initiatives. Some more detailed proposals on the deployment of recycling business in the former coal-mining areas are given in the works (Cherevatsky & Soldak, 2016; Novak, Soldak, & Cherevatsky, 2016)
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