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The Importance of Clusters for the Development of New Industries

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  • Cristina Porumboiu

Abstract

This paper aims to present how new industries have emerged taking advantage of related businesses crowded in specific areas - first, through a review of the current literature on the evolution of industries within clusters; second, through a case study that disseminates the theoretical findings. Undoubtedly, as the findings of previous studies have shown, new industries are increasingly important to the world economy due to their technological power of modernization. Because their potential is as great as their uncertain outlook, it is no surprise that these new industries are growing within clusters, already confirmed in the literature as drivers of competitiveness and economic development.

Suggested Citation

  • Cristina Porumboiu, 2021. "The Importance of Clusters for the Development of New Industries," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 24(80), pages 70-80, June.
    • Handle: RePEc:rej:journl:v:24:y:2021:i:80:p:70-80
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    clusters; competitive advantage; emerging industries; business networks; life sciences;
    All these keywords.

    JEL classification:

    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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