Policies, Plans and Metrics
Edited by Tan Yigitcanlar, Kostas Metaxiotis and Francisco Javier Carrillo
Chapter 11: Clustering: Concentration of the Knowledge-based Economy in Sydney
Richard Hu INTRODUCTION Sydney is Australia’s top global city positioned in a global urban hierarchy as measured and ranked in an increasing number of global city literatures (Beaverstock et al., 1999; Friedmann, 1986, 1995; GaWC, 1998, 2009; Godfrey and Zhou, 1999; MasterCard Worldwide, 2008; etc.). Saskia Sassen, the author of the term ‘global city’, defines a global city’s status from the perspective of its capacity to provide such ‘producer services’ as financing, banking, accounting, advertising, marketing and management consultancy and attests that these complexes of knowledge-based economy activities are usually located in central business districts (CBDs) of a few global cities (Sassen, 1995, 2001). This theorization of the global city and the clustering of the knowledge-based economy in the central city area is supposed to be applicable to Sydney too given the scholarly consensus on Sydney’s status as a global city. A group of researchers have testified the argument of Sydney’s status as a global city and the clustering of advanced producer services or the ‘financialization’ of workers in Central Sydney (Baum, 1997; Daly and Pritchard, 2000; O’Connor and Stimson, 1995; O’Neill and McGuirk, 2003; Searle, 1996, 1998b, 2008). However, an empirical study of how the knowledge-based economy has been concentrated in Central Sydney compared to Metropolitan Sydney in a systematic manner, and how this concentration has shifted temporally, will contribute to the literature and help testify the theories. This chapter aims to make an empirical contribution to understanding the clustering of the knowledge-based economy in Central Sydney. In order...
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