AbstractTech clusters like Silicon Valley play a central role for modern innovation, business competitiveness, and economic performance. This paper reviews what constitutes a tech cluster, how they function internally, and the degree to which policy makers can purposefully foster them. We describe the growing influence of advanced technologies for businesses outside of traditional tech fields, the strains and backlash that tech clusters are experiencing, and emerging research questions for theory and empirical work.
CitationKerr, William R., and Frederic Robert-Nicoud. 2020. "Tech Clusters." Journal of Economic Perspectives, 34 (3): 50-76. DOI: 10.1257/jep.34.3.50
- O31 Innovation and Invention: Processes and Incentives
- R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
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- R58 Regional Development Planning and Policy