The Concept of Smart Specialisation: a Connection in the Essence With Theories of Economic Development

Smart specialisation has become a popular approach to the strategic management of the innovative development of regional/national economies. However, there is no consensus in scientific circles on the theoretical origin of the concept of smart specialisation. Therefore, the purpose of the article is to analyze the influence of economic development theories on the formation of the theoretical basis of the concept of smart specialisation. It is established that the concept of smart specialisation is based on the definitions, patterns, and main factors of economic development defined by traditional economic schools. To form a systematized scientific knowledge about smart specialisation, the study focuses on modern economic theories that consider the possibilities of ensuring the development of economies based on knowledge and innovation. The article analyses the provisions of the theories of structural transformations, endogenous growth, evolutionary economics, agglomerations, innovative ecosystems and clusters, which are identified as the main ones that are related to and substantiate the ideas of smart specialisation. The most significant provisions of these theories from the point of view of forming the theoretical foundations of smart specialisation are highlighted. Based on the results of the conceptual analysis of the works of evolutionists, the author summarises the classes of industries by the organisation of innovation activity, indicating the peculiarities of innovation production depending on the sectoral affiliation of the participants involved in this process. The author emphasizes the coherence between the concept of smart specialisation and the theory of innovation ecosystems, which, unlike the concept of innovation systems, is more focused on creating conditions for productive collaboration of regional stakeholders in the process of entrepreneurial discovery. It is concluded that the concept of smart specialisation is a product of comprehension and organic integration of scientific views on achieving economic growth, choosing paths, using opportunities and ensuring innovative development of national/regional economies. The author's vision of the theoretical basis of the concept of smart specialisation is presented, which, unlike the existing ones, specifies the pool of economic theories with the determination of their influence on the meaningful components of the concept of smart specialisation and singles out the theoretical core, functional components and axiomatic part of its basis, which theoretically substantiates the approach of smart specialisation.