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The Benefits of Industrial Agglomerations in a Prolonged Economic Crisis

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  • Dîrzu Mãdãlina-Stefania

    („Alexandru Ioan Cuza” University of Iasi, Doctoral School of Economics, Centre for European Studies)

Abstract

The international economic crisis that started in late 2007 and perpetuated until 2011, has conducted to new interests in the connection between the impact of worldwide recession and the possible remedies offered by industrial agglomerations for contrasting this powerful virus that global economy is copying with. To shed a light on this question, industrial agglomerations permit companies to become more innovative and consequently more productive by developing unique knowledge and abilities difficult to be replicated. In this way, the agglomerations contribute to the competitive advantage of the areas where they are located, and this value chain seems to be similar even in the case of a prolonged economic recession. Therefore, the purpose of this paper is to explore the behavior of the firms inside industrial agglomerations in the context of an extended financial crisis, focusing on several cases from Europe and finally to examine in what proportion the benefits of agglomerations are crucial for a prompt recovery from this worldwide economic collapse.

Suggested Citation

  • Dîrzu Mãdãlina-Stefania, 2011. "The Benefits of Industrial Agglomerations in a Prolonged Economic Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 339-343, May.
    • Handle: RePEc:ovi:oviste:v:xi:y:2011:i:9:p:339-343
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    More about this item

    Keywords

    industrial agglomerations; economic crisis; coping solutions;
    All these keywords.

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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