Do firms in clusters invest in R&D more intensively? Theory and evidence from multi-country data

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This study aims to evaluate whether firms located in clusters invest more intensively in research and development (R&D) than their non-clustered counterparts. Specifically, it proposes a model of firm R&D and tests empirically its implications for the effect of being located in a cluster on firm R&D intensity. The key ideas underlying the theory are as follows: (I) due either to natural excludability or to a high degree of stickiness of R&D-opportunity-bearing technological knowledge, geographical proximity per se is limited in the (automatic) spillover of knowledge with promising R&D opportunities to nearby firms: (2) geographical proximity may, however, help enhance the effectiveness or efficiency of knowledge exchange through market mechanisms (e.g., through contract R&D, R&D collaboration); (3) potential advantages (or disadvantages) in firm R&D of being located in a cluster also depend on the degree of asymmetry in technological competence among firms located in the cluster. The key ideas are supported by an empirical analysis of a multi-industry, multi-country data set compiled by the World Bank. In particular, the results show that being located in a cluster per se actually has a negative effect on firm R&D intensity, which is in contrast to the conventional wisdom of pure or automatic localized knowledge spillovers, as far as firm R&D intensity is concerned. (C) 2009 Elsevier B.V. All rights reserved.
Publisher
ELSEVIER SCIENCE BV
Issue Date
2009-09
Language
English
Article Type
Article
Keywords

KNOWLEDGE SPILLOVERS; TECHNOLOGICAL-CHANGE; LOCALIZED KNOWLEDGE; INDUSTRIAL CLUSTERS; LOCATION MATTER; INNOVATION; BIOTECHNOLOGY; AGGLOMERATION; PERFORMANCE; SIZE

Citation

RESEARCH POLICY, v.38, no.7, pp.1159 - 1171

ISSN
0048-7333
URI
http://hdl.handle.net/10203/21961
Appears in Collection
MT-Journal Papers(저널논문)
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