Mesovector innovation policy and quasi-national economic growth (MezoVIP/QEG): a study based on the “Point impact system approach”

Abstract

The article presents the results of research on mesovector innovation policy, carried out using a scientific approach based on the principle of “targeted impact system”, which provided a solid basis for the development of new practical approaches to modeling regional structural changes, especially innovation systems. Design/methodology/approach: The authors’ approach makes it possible to determine that each type of regional innovation system suffers from certain combinations of regional barriers and setbacks in progress towards structural changes, which helps to assess which types of new development paths are most likely in peripheral, old industrial and key regions. Findings: Fundamental and sustained structural changes in the world economy, caused by recurring economic and financial crises, the digital revolution and the ongoing globalization of production and innovation, pose serious challenges for regional and national economies to update their industrial structures and develop innovations that break existing development paths. This requires new approaches to innovation policy that can be well adapted to support transformation processes towards the formation of new “points” of industrial growth. Originality/value: In the article, the authors consider the innovation system in terms of prospective and propose an approach based on the principle of “targeted impact system” in order to develop an innovation policy that can be adapted to facilitate structural changes in various regional contexts. We called this model of innovation policy “mesovector innovation policy” (MezoVIP)