Urban Competitiveness and Innovation
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Urban Competitiveness and Innovation

Edited by Pengfei Ni and Zheng Qiongjie

Against the backdrop of today’s climate of economic globalization and the rapid development of information, this timely book explores the complex concept of competitiveness between cities. The expert contributors illustrate that innovation is a prerequisite for increasing urban competitiveness, and highlight the various ways that urban innovation-based competitiveness can be approached.
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Chapter 14: Economic competitiveness, clusters, and cluster-based development

Harold Wolman

Extract

Cluster theory and its application, cluster-based economic development policy, have been in the forefront of regional economic development theory and practice during the past decade. Regional clusters imply that firms that are part of a geographically defined cluster benefit from being a part of that cluster and that these benefits result in growth in economic output for the region. These benefits accrue as a result of co-location or geographical proximity that, in turn, creates lower input costs for firms through agglomeration economies and facilitates knowledge spillovers that produce innovation and increased productivity. Consequently, firms in effective clusters will be more competitive, and regions with effective clusters will experience greater growth.

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