Are science valleys and clusters panacea for a knowledge economy? An investigation on regional innovation system (RIS) - concepts, theory and empirical analysis

Afzal, Munshi Naser Ibne (2013) Are science valleys and clusters panacea for a knowledge economy? An investigation on regional innovation system (RIS) - concepts, theory and empirical analysis. Asian Research Policy, 4 (2). pp. 114-125. ISSN 2093-3509

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This research elucidates the concept of regional innovation systems (RIS). It argues that RIS can be a platform to apply classroom innovation ideas into practical context. Key definitions are given and distinctions drawn between national and regional innovation systems. Then, by suggesting to a number of important variables portraying innovation such as education, knowledge transfer, linkage and communications, regulatory quality, cost of doing business, trade openness, R&D expenditure and high-tech export for twenty emerging and developed knowledge based economies from Asia-Pacific, Europe and Latin America are differentiate. We empirically study these features of innovative ability in our sample regions by applying nonparametric robust partial frontier order-m approach in cross-section data analysis collected from the WDI and WCY-2011 dataset for the period 2011. The empirical results highlight that South Korea, Singapore and Malaysia are the frontier region or best practice nations and follower region can emulate the best practice nations by learning their policy implications while building up a successful regional innovation system. Moreover, our study reveals that Techno or science valleys and high-tech clusters are one of the panacea for a regional and thus overall economic development.

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Item Type: Article (Commonwealth Reporting Category C)
Refereed: No
Item Status: Live Archive
Additional Information: Asian Research Policy Best research paper award 2013. Published version deposited in accordance with the copyright policy of the publisher. Copyright notice: Asian Research Policy is an open archive journal. All works are published and viewed free of charge. Readers are free to Share - to copy, distribute and transmit the work under the following conditions: -They may not use the work for commercial purposes. -They may not alter, transform, or build upon the work. -For any reuse or distribution, they must make clear to others the license terms of the work. -Any of the above conditions can be waived if they get permission from the copyright holder.
Faculty / Department / School: Current - Faculty of Business, Education, Law and Arts - School of Commerce
Date Deposited: 29 Oct 2013 01:45
Last Modified: 07 Feb 2017 06:36
Uncontrolled Keywords: regional innovation system; nonparametric order-m analysis; techno and science parks; high-tech clusters
Fields of Research : 14 Economics > 1402 Applied Economics > 140202 Economic Development and Growth
14 Economics > 1402 Applied Economics > 140209 Industry Economics and Industrial Organisation
15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150307 Innovation and Technology Management
Socio-Economic Objective: B Economic Development > 91 Economic Framework > 9101 Macroeconomics > 910103 Economic Growth

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