New Horizons in Regional Science series
Edited by Philip Cooke, Mario Davide Parrilli and José Luis Curbelo
In the current globalized economy a number of new challenges arise for local/regional economies as well as for broader national and community areas. In this context, territorial resilience is necessary and innovation represents the mechanism that may help to successfully sustain it. Indeed, innovation has become the critical driver for territorial development and competitiveness. The most advanced countries are those that invest the most significant percentage of their gross domestic product (GDP) in research and development (R&D) and other innovation activities. The globalization of markets has emphasized the need to respond quickly to such challenges, as large national economies have joined the international market on the basis of traditional cost advantages, but also on the basis of new advances made in technological and non-technological innovation. Many countries find themselves squeezed out of their former marketplaces. However, this situation not only creates threats and challenges, but also opens up opportunities that have to be exploited to create room for more balanced development between traditionally advanced economies, and transition, emerging and developing countries. It is a case of opening of new markets, but also potential for creating competent collaboration in research and development as well as in production and commercialization. As a result, the former market of 1–2 billion people in the advanced economies is getting too small; the new marketplace stretches well beyond that to incorporate a few more billion people who were previously left outside the production and consumption dynamics. In such a scenario nothing can be taken...