The paper "Smart Specialization, Regional Growth and Applications to European Union Cohesion Policy" by Philip McCann and Raquel Ortega-Argiles explores the concept of smart specialization and its application to regional growth and EU cohesion policy. The authors aim to address two main objectives: first, they examine the smart specialization concept and the challenges involved in applying it to a spatial and regional context; second, they explain how this concept can be adapted to serve as a building block for reformed EU cohesion policy. The smart specialization concept, which originated from the literature on the productivity gap between the US and Europe, emphasizes the importance of technological linkages and spillovers in driving innovation and economic growth. The concept is now a key driver of the EU's Innovation Union initiative and cohesion policy reforms. The authors argue that while the smart specialization logic initially emerged from sectoral thinking, it can be adapted to address regional growth issues by translating key elements into a spatial context. Key challenges in applying smart specialization to regions include ensuring that the policy targets lagging regions rather than core regions, which are more conducive to innovation and growth. The authors propose that smart specialization can be justified as a tool for cohesion policy by focusing on embeddedness, relatedness, and connectivity. Embeddedness refers to the integration of local industries, relatedness to the diversification of technologies related to existing dominant fields, and connectivity to fostering learning linkages within and between regions. The paper concludes by discussing how smart specialization can be integrated into EU cohesion policy to promote technological diversification and connectivity in target regions, while addressing issues such as local rent capture and engagement with local elites. The authors suggest that a tailored approach to policy design, delivery, and evaluation is necessary to ensure the effectiveness and inclusivity of smart specialization policies.The paper "Smart Specialization, Regional Growth and Applications to European Union Cohesion Policy" by Philip McCann and Raquel Ortega-Argiles explores the concept of smart specialization and its application to regional growth and EU cohesion policy. The authors aim to address two main objectives: first, they examine the smart specialization concept and the challenges involved in applying it to a spatial and regional context; second, they explain how this concept can be adapted to serve as a building block for reformed EU cohesion policy. The smart specialization concept, which originated from the literature on the productivity gap between the US and Europe, emphasizes the importance of technological linkages and spillovers in driving innovation and economic growth. The concept is now a key driver of the EU's Innovation Union initiative and cohesion policy reforms. The authors argue that while the smart specialization logic initially emerged from sectoral thinking, it can be adapted to address regional growth issues by translating key elements into a spatial context. Key challenges in applying smart specialization to regions include ensuring that the policy targets lagging regions rather than core regions, which are more conducive to innovation and growth. The authors propose that smart specialization can be justified as a tool for cohesion policy by focusing on embeddedness, relatedness, and connectivity. Embeddedness refers to the integration of local industries, relatedness to the diversification of technologies related to existing dominant fields, and connectivity to fostering learning linkages within and between regions. The paper concludes by discussing how smart specialization can be integrated into EU cohesion policy to promote technological diversification and connectivity in target regions, while addressing issues such as local rent capture and engagement with local elites. The authors suggest that a tailored approach to policy design, delivery, and evaluation is necessary to ensure the effectiveness and inclusivity of smart specialization policies.