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On Building Clusters Versus Leveraging Synergies In The Design Of Innovation Policy For Developing Economies, Edward J. Feser

Edward J Feser

This paper argues there are two broad ways policymakers might use industry cluster concepts to inform the design of regional innovation policy. The first, and clearly dominant approach, is to view identified technology-based clusters as targets for growth strategies, i.e., to nurture the growth of selected groups of innovative industries and research strengths in a limited set of regions as a means of increasing levels of innovation economy-wide (termed the cluster building approach). The second is to use cluster ideas to reorient development strategies so that they leverage synergies among businesses and non-market institutions, thus improving innovation rates (termed the …