econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result

Agglomeration and Innovation: A View Of Innovation Clusters Like Silicon Valley

admin by admin
9월 6, 2014
in 미분류
0
0
SHARES
0
VIEWS

from the Philadelphia Fed

Marshall (1890) noted long ago that, in industrial clusters, “[t]he mysteries of the trade become no mysteries; but are as it were in the air, and children may learn them unconsciously” (p. 271). Much progress has been made since Marshall made this famous statement about understanding exactly how agglomeration, knowledge spillovers, and innovation fit together, and what their impact on local and national economies might be.

Over the past two decades, research in this field has particularly surged. This has been unquestionably due in large part to the substantial data now available to better study these questions. It also surely has some connection to the growth of the knowledge economy, the fascination with Silicon Valley and related clusters, and similar popular themes. Particularly encouraging is the extensive set of connections being made from economic geography to adjacent fields such as labor economics, entrepreneurial finance, and business management.

Much, however, remains to be accomplished. With the handful of important exceptions reviewed previously, we still have not opened the black box of how clusters operate. Most of our empirical work has instead been comparisons over places. Better empirical guidance about the microinteractions within clusters with respect to innovation will allow us to differentiate among models and build stronger theoretical frameworks. Fortunately, the data are within reach to do so. Many employer–employee data sets are being linked to information on innovation (e.g., inventor identifiers), and these data sets often allow precise spatial coordinates of firms. This should prove a powerful lever for seeing further inside local areas, and it is likely that the line of work will increasingly draw upon network theory (e.g., Jackson, 2008; Dempwolf, 2012; and Kerr and Kominers, 2014).

We also need better insight into the long-term nature of agglomeration and innovation—the life cycles of innovative places. This is true within countries—innovation cores have shifted between Detroit, Boston, Silicon Valley, etc., and will continue to do so—but also true across countries. How does the rise of Bangalore impact Boston? Does the development of global innovation centers in rapidly emerging countries complement or substitute for those in advanced economies? The study of agglomeration and innovation is exciting because we are starting to make some progress at understanding the local and global nature of these phenomena.

Finally (although by no means closing off a comprehensive list), we need to develop better guidance about what local policymakers can do to foster agglomeration and innovation in their cities. This is a big and difficult question, and we are right to be cautious that we do not have all the answers. However, governments have spent billions of dollars on this, and many will continue to fund “be the next Silicon Valley” initiatives. This is true in advanced economies, in nations currently looking to transition from resource-dependent to a knowledge-based economy, in developing countries looking to leapfrog growth stages, and everywhere in between. Economists must continue to provide insight on these critical matters, and ideally our insights will get sharper faster.

[click here to read the entire study]

Source: http://philadelphiafed.org/research-and-data/publications/working-papers/2014/wp14-26.pdf

Previous Post

Why Do Sovereigns Borrow Bank Money?

Next Post

2 Stocks Due For A Pullback

Related Posts

Bitcoin Is Finally Trading Perfectly Like 'Digital Gold'
Economics

Bitcoin Is Finally Trading Perfectly Like ‘Digital Gold’

by admin
Namibia Will Regulate And Not Ban Crypto With New Law
Finance

Namibia Will Regulate And Not Ban Crypto With New Law

by admin
6,746 ETH Valued At $12M Was Just Burned
Economics

6,746 ETH Valued At $12M Was Just Burned

by admin
Bitcoin Is Steady Above $29,000 Awaiting US NFP Figures
Economics

Bitcoin: What Next After Consolidation Ends?

by admin
US Government Offloads Another 8,200 Bitcoin – On-chain Data
Economics

US Government Offloads Another 8,200 Bitcoin – On-chain Data

by admin
Next Post

2 Stocks Due For A Pullback

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect