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Are Industry Clusters and Diversity Strange Bedfellows?

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  • Randall Jackson

    (West Virginia University)

Abstract

In this address, I review industry clustering and diversification strategies to compare and contrast their underlying foundations. The lack of a consensus choice of one or the other for regional economic development strategies along with the recognition that in the dynamic process of development these two processes are related leads me to conclude that clusters and diversity need not be such strange bedfellows after all, and that a rational approach to economic development can leverage the strengths of each and offset weaknesses. I follow this discussion by introducing a cluster assessment diversification strategy (CADS) apparatus that can be used to measure existing cluster strength, identify industrial strengths and deficit bottlenecks, and explore the regional consequences of potential cluster diversification strategies.

Suggested Citation

  • Randall Jackson, 2015. "Are Industry Clusters and Diversity Strange Bedfellows?," The Review of Regional Studies, Southern Regional Science Association, vol. 45(2), pages 113-129, Fall.
    • Handle: RePEc:rre:publsh:v45:y:2015:i:2:p:113-129
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    Cited by:

    1. Steven C. Deller & Tessa Conroy & Philip Watson, 2017. "Women business owners: a source of stability during the great recession?," Applied Economics, Taylor & Francis Journals, vol. 49(56), pages 5686-5697, December.
    2. Jing Chen, 2018. "Economic Diversity and Regional Economic Performance: A Methodological Concern from Model Uncertainty," Working Papers Working Paper 2018-05, Regional Research Institute, West Virginia University.
    3. Jing Chen, 2018. "Interpreting Economic Diversity as the Presence of Multiple Specializations," Working Papers Working Paper 2018-02, Regional Research Institute, West Virginia University.
    4. Jing Chen & Randall Jackson, 2018. "Regional Industry Cluster Analysis for the Potomac Highlands in West Virginia," Working Papers Resource Document 2018-03, Regional Research Institute, West Virginia University.
    5. Jing Chen, 2017. "Geographical Scale, Industrial Diversity and Regional Economic Stability," Working Papers Working Paper 2017-03, Regional Research Institute, West Virginia University.
    6. Jing Chen, 2020. "The Impact of Cluster Diversity on Economic Performance in U.S. Metropolitan Statistical Areas," Economic Development Quarterly, , vol. 34(1), pages 46-63, February.

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    More about this item

    Keywords

    industry clusters; industry diversification;

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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