Endogenous growth theory has significantly impacted most of the developing and developed countries, shifting priorities of industrial policies towards innovation. In line with this trend, the European Union significantly increased its budgetary allocation for R&D. However, statistical data show a weak correlation between R&D expenditure and the acceleration of economic growth. Regional innovation policies display divergent returns according to different institutional conditions and policy choices. Grillo and Nanetti attempt to understand the reasons that lie behind differences in performance. Their results show that better performing innovation strategies require the following factors: clear choices of locally congruent smart specialization; strong capacity of public investment to stimulate additional private investment; clear distribution of responsibilities for decision-making and independence of policy implementation from political interference; and problem solving partnerships amongst innovators, universities, and governments that pre-exist the programmes. These factors point to a relationship between democracy (defined as openness of policy-making) and innovation (as technology-enabled growth) which is explored throughout this book.

Is democracy still the best political regime for countries to adapt to economic and technological pressures and increase their level of prosperity? While the West seems to have stagnated in an environment of political mistrust, increasing inequality and low growth, the rise of the East has shown that it may not be liberal democracy that is best at accommodating the social mutations that technologies have triggered. The cases of China and Italy form the research focus as two extremes in growth performance. China is the star of globalisation in the East, while Italy is the laggard of globalisation in the West and a laboratory of creeping political meltdown now shared by other major Western economies. But is this forever? Introducing the 'innovation paradox' as the main challenge to the West and the notion of 'knowledge democracy' as key to sustainable growth, this book presents a new side to the debate on the Fourth Industrial Revolution (or fifth as the authors argue). It is a vital reading for all those questioning what kind of democracy positively impacts innovation as the force whose speed and direction transforms societies and economies.

The pursuit of sustainable development and smart growth is a main challenge today in countries around the world. Social capital is an asset of their territorial communities. It is also a precondition for national and local policies that aim to better the economic base and quality of life for all. This change is socially diffused, economically sustainable over time, and smart in its content. A significant stock of social capital facilitates such results because it links into the process of development planning institutional decision makers and socioeconomic stakeholders who share trust, solidarity norms, and a community vision. In the last thirty years, social capital has become a forceful concept in the social sciences, the subject of many scholarly works and a topic of keen interest and debate in policy circles. Yet the main focus has been on defining and measuring social capital, with little attention given to its value in promoting development policies. Social Capital in Development Planning updates and advances the debate on social capital through the analysis of the application of the concept of social capital to programs for sustainable and smart socioeconomic development; empirical findings; and a new paradigm for development planning.

Why do some democratic governments succeed and others fail? In a book that has received attention from policymakers and civic activists in America and around the world, Robert Putnam and his collaborators offer empirical evidence for the importance of "civic community" in developing successful institutions. Their focus is on a unique experiment begun in 1970 when Italy created new governments for each of its regions. After spending two decades analyzing the efficacy of these governments in such fields as agriculture, housing, and health services, they reveal patterns of associationism, trust, and co-operation that facilitate good governance and economic prosperity. Winner of the 1992 Louis Brownlow Book Award of the National Academy of Public Administration.

The pursuit of sustainable development and smart growth is a main challenge today in countries around the world. Social capital is an asset of their territorial communities. It is also a precondition for national and local policies that aim to better the economic base and quality of life for all. This change is socially diffused, economically sustainable over time, and smart in its content. A significant stock of social capital facilitates such results because it links into the process of development planning institutional decision makers and socioeconomic stakeholders who share trust, solidarity norms, and a community vision. In the last thirty years, social capital has become a forceful concept in the social sciences, the subject of many scholarly works and a topic of keen interest and debate in policy circles. Yet the main focus has been on defining and measuring social capital, with little attention given to its value in promoting development policies. Social Capital in Development Planning updates and advances the debate on social capital through the analysis of the application of the concept of social capital to programs for sustainable and smart socioeconomic development; empirical findings; and a new paradigm for development planning.