Key enabling technologies foster EU economic growth: study
Xinhua, January 27, 2016 Adjust font size:
Key enabling technologies (KETs), such as nano electronics or industrial biotechnologies, directly boost the European Union (EU) regions' growth, particularly those which lag behind in innovation, a first-time analysis has found.
This was according to a report issued Tuesday by the European Commission's in-house science service, Joint Research Center (JRC).
Moreover, comparison with specialization in fast growing technologies (FGTs), which have the power to disrupt markets, showed that FGTs only indirectly affect regional growth through the impact on regions' innovation performances.
The study was carried out to enhance the understanding of how KETs affect regional innovation and economic growth in the context of smart specialization, which is a strategic approach to regional economic development.
The results of the study confirmed and reinforced the important role that KETs may play to meet the European Commission priority on boosting growth and creating more jobs.
Regions specialized in KETs are concentrated in central Europe, while specialization in FGTs prevails in Scandinavian countries and Britain, according to the report.
An analysis of the evolution of regions' technological specialization over time showed that trailing regions have increased their relative specialization in KETs with respect of leader regions.
In contrast, the latter have increased their relative specialization in FGTs.
In addition, the study suggested that KETs often spread across bordering regions. In particular, a pattern of technological diffusion from Germany towards East Europe has taken place for KETs. Endit