Clusters, Industrial Policy And Entrepreneurship: A Critical View
In the last decades, more and more economists have advanced the idea that significant obstacles impeding economic growth (especially in less developed regions) consist in different market failures, which prevent entrepreneurs from taking the necessary actions to exploit profit opportunities. This paper intends to provide a refutation of the idea that coordination failures as manifested in the inability of clusters to emerge can serve as a ground for government intervention. Porter’s theory of clusters is shown to be irrelevant and inconsistent on its own terms.
Volume (Year): 1 (2006)
Issue (Month): 1 (March)
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