Local industrial clusters, such as Silicon Valley in the United
States, have become an important subject of scholarly inquiry in
recent years. This book offers a unifying view by capturing the
general characteristics and prerequisites of local industrial
clusters both on a theoretical as well as an empirical level. The
book establishes a mathematical model to analyse the dynamics of
clustering and the conditions that are to be satisfied if a local
industrial cluster is to evolve. This model allows predictions
about the spatial distribution of firms to be deducted, which are
empirically tested in the book. This thorough methodology allows
the author to postulate upon whether the number of local clusters
that emerge in an industry is random, or whether it is
predetermined. An impressive scholarly exercise, this book also
contains important policy lessons. As such, Local Industrial
Clusters will be a valuable read for policy-makers as well as
academics.
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