The Concept of Smart Economy under the Context of Creation the Economic Value in the City

Abstract

The concept of smart economy is becoming more popular in the scientific and various strategic documents. This concept is used in a wide range of contexts: the smart urban design and development, economic development, strategic planning, advertisement of the cities and branding. The research has shown that up to now there is no single, generally accepted definition of the smart economy. The absence of a clear smart economy concept among scientists, politicians and businessmen does not allow to sufficiently precisely understand the specificity of a smart economy and direct strategically targeted actions for strengthening and promotion the emergence and development of the smart economy in the city. Moreover, the problematic of smart economy is little analyzed by Lithuanian scientist, so this concept requires additional economic discussions and justifies the relevance, timeliness and novelty of analysis on this topic in Lithuania. In the article, the process of creation the economic value in the city is used as the tool to reveal the definition and key features of the smart economy. This article is the second of the articles‘ complex, appointed to the research of the concept of smart economy and it‘s conditions measurement in Lithuania. This research is funded by the European Social Fund under the Global Grant measure.

DOI: http://dx.doi.org/10.5755/j01.ppaa.13.3.8301