Smart specialization as an incentive for the development of creative economies in Armenia and Moldova

Abstract

Conditioned by current research and technological achievements, economic systems have undergone a range of structural transformations. Respectively, the targeted state policies in SMART specializations and investments in the processes of producing creative assets have served as a basis for the emergence of creative economies. These new advancements have also created new challenges for universities. In competitive economies universities have undertaken the missions of innovating and incorporating solutions into the educational processes by preparing professionals who will possess competitive knowledge and skills. The aim of the article is to conceptualize the focal role of SMART specializations in the successful development of creative economies in Armenia and Moldova.