| Summary: | For regions in industrial transition, traditional policy solutions - for example, pursuing technology-based innovation and research and development (R&D), channelling resources to large industrial firms, and designing and implementing actions in a sector-driven and/or top-down manner - have not always yielded the necessary results. This is evident in that industrial transition-related challenges, such as generating inclusive growth and improving regional well-being, have not disappeared despite past or present policy actions. This leads to the conclusion that the mechanisms being used to manage industrial transition - from governance arrangements to programming design and implementation - may need to be revisited and recalibrated or alternatively complemented or replaced with a new approach.
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