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When High Tech ceases to be High Growth: The Loss of Dynamism of the Cambridgeshire Regio

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  • E. Stam
  • R. Martin

Abstract

This paper analyses mechanisms of decline and renewal in high-tech regions, illustrated with empirical evidence on the Cambridgeshire high-tech region in the UK. The paper contributes to ecological (‘carrying capacity’) and evolutionary (path dependence) theories of regional development. It provides a longitudinal, multilevel analysis of invention, firm, and industry dynamics and change in the supply and costs of resources in order to explain the decline of high-tech regions. While expansion of the Cambridgeshire high-tech region has been sustained over time, recently forces of decline have been stronger than those of renewal. Decline in employment has been most marked in the local telecommunications and biotech sectors, while the creation of variety by new firms has fallen off most strongly in the local IT software & services industry. Increasing diseconomies of agglomeration are in evidence, together with a contraction of finance that may have been a harbinger of financial stringency to come.

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File URL: http://dspace.library.uu.nl/bitstream/handle/1874/272487/12-10.pdf
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Bibliographic Info

Paper provided by Utrecht School of Economics in its series Working Papers with number 12-10.

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Length: 50 pages
Date of creation: 2012
Date of revision:
Handle: RePEc:use:tkiwps:1210

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Keywords: high-tech regions; industrial dynamics; innovation; entrepreneurship; cluster decline;

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References

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  16. Casper, Steven, 2007. "Creating Silicon Valley in Europe: Public Policy Towards New Technology Industries," OUP Catalogue, Oxford University Press, number 9780199269525, September.
  17. Ron Martin & Peter Sunley, 2006. "Path Dependence and Regional Economic Evolution," Papers in Evolutionary Economic Geography (PEEG) 0606, Utrecht University, Section of Economic Geography, revised Mar 2006.
  18. Ernst, Holger, 2001. "Patent applications and subsequent changes of performance: evidence from time-series cross-section analyses on the firm level," Research Policy, Elsevier, vol. 30(1), pages 143-157, January.
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Citations

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Cited by:
  1. Martin Henning & Erik Stam & Rik Wenting, 2012. "Path dependence research in regional economic development: Cacophony or knowledge accumulation?," Papers in Evolutionary Economic Geography (PEEG) 1219, Utrecht University, Section of Economic Geography, revised Oct 2012.
  2. Ron Martin & Peter Sunley, 2011. "Conceptualising Cluster Evolution: Beyond the Life-Cycle Model?," Papers in Evolutionary Economic Geography (PEEG) 1112, Utrecht University, Section of Economic Geography, revised Jul 2011.
  3. J.W.B. Bos & E. Stam, 2011. "Gazelles, Industry Growth and Structural Change," Working Papers 11-02, Utrecht School of Economics.

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