Exploring knowledge spillovers: innovation strategies in resource-rich countries

Abstract Exploring innovation strategies within the knowledge spillover theory is key to understanding how knowledge generated in one context can unintentionally flow or "spill over" into other contexts, leading to new insights, ideas, and innovations. Resource-rich countries face unique challenges and opportunities when applying this theory, which primarily focuses on the influence of external factors on entrepreneurial behaviour and the innovation process. While abundant natural resources can provide a strong economic base, they also pose the risk of a resource curse, where overreliance on resource extraction hampers diversification and innovation in other sectors. This study aims to unravel how and why the knowledge spillover theory can facilitate regional economic development and growth in resource-rich countries. We do so by performing a systematic literature review of relevant peer-reviewed articles published between 1996 and 2024 and discussing the mechanisms and conduits of knowledge spillover in countries rich in natural resources.