A system dynamics model of science, technology and innovation policy to sustain regional innovation systems in emerging economies

System dynamics (SD) models have become an important tool to develop new theories in social sciences. This approach allows analysing science, technology and innovation (STI) policy within the structure of the system where this process is carried out. In this regard, the main objective of this research is two-fold. First, it aims to develop an SD model of a RIS in the case of emerging economies. Second, it aims to demonstrate how a set of STI indicators can be simulated with this model. In this paper, it is argued that STI indicators are needed to design a timely and accurate STI policy that support innovation activity at a regional level. However, the SD approach provides an adequate framework to integrate into the same analysis key institutions that support the generation and diffusion of technology and new knowledge. The case of the RIS of the province of Michoacan in Mexico is analysed in this paper.