Evaluation of the implementation of smart specialisation strategy in Lithuanian industry
Abstract
This article provides data-driven analyses of Lithuanian foreign trade activities. We combine Herfindahl-Hirschman Index (HHI) and Lauraéus-Kaivo-oja Index (LKI) measures to identify key changes and trends in export and import structures of the Lithuanian economy. The findings suggest that the export and import portfolios of the Lithuanian economy have been successfully diversified and the Lithuanian Smart Specialisation Strategy (S3) successful implemented in years 2015 through 2020. Presented in the form of HHI and LKI time series, our findings and the corresponding conclusions will be relevant to both the Lithuanian export and import industry and to industrial and economic policymakers in Lithuania and in international export and import agencies.
Keyword : industrial structure, smart specialisation, Herfindahl-Hirschman Index, Lauraéus-Kaivo-oja Index, export portfolios, import portfolios
How to Cite
Augustinaitis, A., Kaivo-oja, J., Lauraeus, T., Kiškienė, A., Bzhalava, L., & Roth, S. (2022). Evaluation of the implementation of smart specialisation strategy in Lithuanian industry. Journal of Business Economics and Management, 23(6), 1299–1314. https://doi.org/10.3846/jbem.2022.18295
This work is licensed under a Creative Commons Attribution 4.0 International License.
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Foray, D., & Goenaga, X. (2013). The goals of smart specialisation (S3 Policy Brief Series, No. 01/2013).
Foray, D., Goddard, J., Goenaga Beldarrain, X., Landabaso, M., McCann, P., Morgan, K., Nauwelaers, C., & Ortgea-Argiles, R. (2012). Guide to research and innovation strategies for smart specialisation (RIS 3). Smart Specialisation Platform. IPTS, Seville.
Frenken, K., Van Oort, F., & Verburg, T. (2007). Related variety, unrelated variety and regional economic growth. Regional Studies, 41(5), 685–697. https://doi.org/10.1080/00343400601120296
Garnant, R. (1989). Australia and the Northeart Asian ascendancy. Australian Govt. Pub. Service.
Ghinoi, S., Steiner, B., Makkonen, T., & Hassink, R. (2021). Smart Specialisation strategies on the periphery: A data-triangulation approach to governance issues and practices. Regional Studies, 55(3), 402–413. https://doi.org/10.1080/00343404.2020.1791321
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Ginevičius, R. (1998). Įmonės veiklos diversifikacija. Technika.
Ginevičius, R., & Andriuškevičius, A. (2000). Gamybos koncentracija rinkos ekonomikoje [Concentration of production in market economy]. Economics: Science Works, 51, 20–29. https://doi.org/10.15388/Ekon.2000.16890
Ginevičius, R., Stasiukynas, A., Gedvilaitė, D., & Slavinskaitė, N. (2015). Issues of quantitative assessment of the industry structure of a country’s region. KSI Transactions on Knowledge Society: a Publication of the Knowledge Society Institute, 8(2), 5–10.
Godlewska-Majkowska, H., & Komor, A. (2021). Energy as a factor of investment attractiveness of regions for agricultural enterprises. Energies, 14(9), 2731. https://doi.org/10.3390/en14092731
Hallack, J. (2004). Product quality, linder and the direction of trade. https://doi.org/10.3386/w10877
Hannan, T. (1997). Market share inequality, the number of competitors, and the HHI: An examination of Bank pricing. Review of Industrial Organization, 12(1), 23–35. https://doi.org/10.1023/A:1007744119377
Herfindahl, O. (1950). Concentration in the US Stell Industry [Dissertion]. Columbia Univerity.
Hirschman, A. (1945). National power and the structure of foregn trade. University of California Press.
Ionescu, A. M., Clipa, A. M., Turnea, E. S., Clipa, C. I., Bedrule-Grigoruță, M. V., & Roth, S. (2022). The impact of innovation framework conditions on corporate digital technology integration: Institutions as facilitators for sustainable digital transformation. Journal of Business Economics and Management, 23(5), 1037–1059. https://doi.org/10.3846/jbem.2022.17039
Jenissen, B., Thomson, R., Clark, C., & Geer, T. (1998). Aspects of structural change in Australia. Research paper. Productivity Commission.
Kaivo-oja, J., Ahlqvist, T., Kuusi, O., Linturi, R., & Roth, S. (2018). New industrial platforms and radical technology foresight: The case of 3D printing in Finland and Europe. International Journal of Manufacturing Technology and Management, 32(1), 65–84. https://doi.org/10.1504/IJMTM.2018.089464
Kaivo-oja, J., Roth, S., & Westerlund, L. (2017). Futures of robotics. Human work in digital transformation. International Journal of Technology Management, 73(4), 176–205. https://doi.org/10.1504/IJTM.2017.083074
Kotnik, P., & Petrin, T. (2017). Implementing a smart specialisation strategy: An evidence-based approach. International Review of Administrative Sciences, 83(1), 85–105. https://doi.org/10.1177/0020852315574994
Kozlova, M., & Collan, M. (2020). Renewable energy investment attractiveness: Enabling multi-criteria cross-regional analysis from the investors’ perspective. Renewable Energy, 150, 382–400. https://doi.org/10.1016/j.renene.2019.12.134
Lauraéus, T., & Kaivo-oja, J. (2017). New transparent way to perform competition, market structure and IPR portfolio analyses: Analysis of the dynamics of trademark competition in Finland as a case example. Journal of Business Management and Economics, 5(12), 8–23.
Lijesen, M. G., Nijkamp, P., & Rietveld, P. (2002). Measuring competition in civil aviation. Journal of air Transport Management, 8(3), 189–197. https://doi.org/10.1016/S0969-6997(01)00048-5
Liston-Heyes, C., & Pilkington, A. (2004). Inventive concentration in the production of green technology: A comparative analysis of fuel cell patents. Science and Public Policy, 31(1), 15–25. https://doi.org/10.3152/147154304781780190
Lopes, J., Ferreira, J. J., & Farinha, L. (2019). Innovation strategies for smart specialisation (RIS3): Past, present and future research. Growth and Change, 50(1), 38–68. https://doi.org/10.1111/grow.12268
McCann, P., & Ortega-Argilés, R. (2016). Smart specialisation, entrepreneurship and SMEs: Issues and challenges for a results-oriented EU regional policy. Small Business Economics, 46(4), 537–552. https://doi.org/10.1007/s11187-016-9707-z
Misra, A. (2006). Growth and structural change in manufacturing industries since 1980–1981 to 2001–2002. Journal of Industrial Economics. https://ssrn.com/abstract=945577
Naldi, L., Nilsson, P., Westlund, H., & Wixe, S. (2015). What is smart rural development? Journal of Rural Studies, 40, 90–101. https://doi.org/10.1016/j.jrurstud.2015.06.006
Naldi, M. (2003). Concentration indices and Zipf’s law. Economics Letters, 78(3), 329–334. https://doi.org/10.1016/S0165-1765(02)00251-3
Perez, C. (2006). Re-specialisation and the deployment of the ICT paradigm: An essay on the present challenges of globalization. In I. Maghiros, The future of the information society in Europe: Contributions to the debate (pp. 27–56). European Commission, Directorate General Joint Research Centre.
Radosevic, S., & Ciampi Stancova, K. (2018). Internationalising smart specialisation: Assessment and issues in the case of EU New Member States. Journal of the Knowledge Economy, 9(1), 263–293. https://doi.org/10.1007/s13132-015-0339-3
Rinkevičiūtė, V., & Martinkutė-Kaulienė, R. (2014). Impact of market concentration on the profitability of Lithuanian banking sector. Business: Theory and Practice, 15(3), 254–260. https://doi.org/10.3846/btp.2014.25
Rodionov, D. G., Konnikov, E. A., & Nasrutdinov, M. N. (2021). A transformation of the approach to evaluating a region’s investment attractiveness as a consequence of the COVID-19 pandemic. Economies, 9(12), 59. https://doi.org/10.3390/economies9020059
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