Transforming innovation models in European regions: Breaking out of path dependency and growing faster?

The aim of the paper is to verify whether a change in innovation model by less-developed regions may speed up development processes and if innovativeness plays crucial role in these processes. Cluster analysis conducted for the years 1994-2014 showed that the majority of lessdeveloped regions in 1994-2000 that experienced significant growth by 2011-2014 changed their innovation models. Logit regression confirmed that innovation factors play a crucial role in high growth rates. The findings suggest that less-developed regions can break out of path dependency by increasing their shares of high-tech industries and employment in science and technology and boosting technology transfer, which usually involves changing and improving their innovation models.