Knowledge diffusion and innovation policies within the European regions: Challenges based on recent empirical evidence

This article builds upon the empirical results concerning localised knowledge spillovers in order to highlight some policy implications within the European regions. The analysis emphasises the role of the regional innovation policies as supporting the institutions which generate knowledge and learning. However, it appears that the search for universal policy tools is unrealistic. The empirical literature stresses indeed a variety of regional features. In this perspective, we argue that original strategies have to be built in order to cope with the various dilemmas faced by regional innovation policies, concerning in particular the best way to enhance and exploit public/private, intra/inter-firms, intra/inter-industries and local/global knowledge flows. Such specific strategies require having an accurate knowledge on the local features and on the comparative positioning of the concerned region compared to others. Improving data and indicators to diagnose and monitor regional innovation is therefore presented as a key issue for the policy makers. (C) 2012 Elsevier B.V. All rights reserved.