ABSTRACT
Recent empirical research in economics has shown that economic diversification is a key determinant for economic growth, inequality reduction and human development (Hidalgo et al. 2007; Hidalgo and Hausmann 2009; Frenken et al. 2007; Rodrik 2004; Hartmann 2014; Hartmann et al. 2015). Economic diversification in turn is determined by the capacity of countries to create, absorb, diffuse and implement knowledge and technology (Freeman 1987; Lundvall 1992; Saviotti and Pyka 2004; Saviotti and Frenken 2008). Consequently, governments and companies should aim to promote innovation systems that allow them to create new products, processes and service and stay competitive in the global markets (Schumpeter 1912; Lundvall 1992; Hartmann 2014). In order to creating new jobs and staying competitive, the European growth strategy aims at making Europe the most dynamic knowledge-based economy in the world (Hartmann 2007; European Commission 2010). While recently the political focus has shifted to short-term solutions of urgent problems like the European financial and political crisis, or more recently the refugee crisis, the need to establish prolific innovation systems and creating knowledge-based jobs continues to be a key challenge. This is not only the case for European Union’s member states like Spain, France or Germany, but even more so for accession candidates like Turkey or countries in the Balkans.
