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Industry Clusters And Economic Development: A Learning Resource, Edward J. Feser
Industry Clusters And Economic Development: A Learning Resource, Edward J. Feser
Edward J Feser
One of the most widely discussed issues in community and economic development today is the role of industry clusters as engines of regional growth and development. Many communities are undertaking cluster studies or initiating cluster planning exercises as a way to organize development strategies to promote key local economic strengths or to shore up identified weaknesses. A large consulting industry has emerged to serve governments’ interest in clusters and the research literature on the topic is growing rapidly. At the same time, some analysts have likened clusters to another economic development fad that will eventually be supplanted by the next …
Old And New Theories Of Industry Clusters, Edward J. Feser
Old And New Theories Of Industry Clusters, Edward J. Feser
Edward J Feser
The paper reviews the broad range of theories and ideas that constitute, often implicitly, the logic behind strategic cluster policies. The title of the paper notwithstanding, there is no theory of industry clusters, per se. Even Porter’s (1990) seminal contribution is more a theory of firm competitiveness than clusters. There is, instead, a variety of older and newer theories of 1) the interrelationships between economic actors that clusters describe, and 2) the implications of such interrelationships for economic growth and development. Industry clusters have proven a useful way of characterizing webs of relationships between and among firms and other institutions. …