Szabó, NorbertPolónyi-Andor, KrisztinaSebestyén, TamásPinto, Hugo2025-10-022025-10-022025-09-121742-1772http://hdl.handle.net/10400.1/27780As the first smart specialisation planning period (2014–2020) ended, monitoring and evaluation became crucial. Analysing the successes and failures of smart specialisation strategy (S3) through a good monitoring and evaluation system contributes to the evidence base on which an efficient redesign and improvement of S3 can be performed. In this paper, we apply an extended version of the geographic, macro and regional (GMR)-Europe economic impact model to provide a real-life evaluation of the implementation of S3 in Centro region using cohesion policy fund data between 2014 and 2023. Simulations reveal that policy instruments and policy mixes of priorities differ in efficiency and identify where improvements are desired.engSmart specialisationMonitoring and evaluationEconomic impact assessmentGeneral equilibriumjournal article10.1080/17421772.2025.25495951742-1780