Seeking Economic Balance: Spatial Analysis of the Interaction Between Smart Specialisation and Diversification in Romanian Mountain Areas

Abstract

Seeking Economic Balance: Spatial Analysis of the Interaction Between Smart Specialisation and Diversification in Romanian Mountain Areas. This research article delves into the intricate relationship between smart specialisation and economic diversification within the unique context of Romanian mountain regions. As regions characterized by their geographical isolation and distinctive socioeconomic challenges, mountain areas in Romania stand as vital territories where balanced economic development is crucial. In this study, we employ a comprehensive spatial analysis to explore how the European Union’s concept of "smart specialisation" and the imperative for diversification intersect within these mountainous areas. The investigation combines both qualitative and quantitative methods, utilizing spatial data and GIS techniques. Findings reveal the intricate interplay between smart specialisation and diversification efforts, highlighting the necessity for adaptable policies that respond to the unique challenges and opportunities present in Romanian mountain areas. The study also offers recommendations for policymakers, emphasizing the importance of custom-tailored approaches that consider the geographic, social, and economic idiosyncrasies of these regions. Ultimately, this research article contributes to a deeper understanding of the complex relationship between regional development strategies and the specific needs of mountainous territories. By shedding light on the practical implications of smart specialisation and diversification in Romanian mountain areas, it offers valuable insights for policymakers, researchers, and practitioners working towards sustainable and balanced economic growth in similar regions worldwide. Keywords: smart specialisation, diversification, regional development, economic growth, mountain areas