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Booming Bohemia? Evidence from the US High-Technology Industry

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  • David Bieri

Abstract

This paper assesses the effect of Richard Florida's creative class on economic growth and development at two levels of spatial aggregation. First, I examine the dynamics of economic growth across US metropolitan regions and investigate how they relate to regional specialization and the concentration of talent in the high-tech industry. In addition to evidence of significant high-tech clusters, I identify important complementarities with regard to the interaction between the three Ts of regional development (talent, technology and tolerance) and regional growth dynamics. Using firm-level data, the regional analysis is then complemented by exploring the location of new high-technology plant openings and their relationship with university research and development (R&D) and the creative class. Specifically, I test the hypothesis that both university R&D and the presence of “creativity” generate spillovers which are captured locally in the form of new high-tech establishments, after controlling for important location factors such as local cost, demand and agglomeration economies. While the marginal impacts of increased R&D funding on county probability for new firm formation is modest, the mix of creativity and diversity—as proxied by the Florida measure—appears to be a key driver in the locational choice of new high-tech firms. Separate estimates indicate that these findings hold up across the major high-tech industries in the USA.

Suggested Citation

  • David Bieri, 2010. "Booming Bohemia? Evidence from the US High-Technology Industry," Industry and Innovation, Taylor & Francis Journals, vol. 17(1), pages 23-48.
  • Handle: RePEc:taf:indinn:v:17:y:2010:i:1:p:23-48
    DOI: 10.1080/13662710903573828
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    Citations

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    Cited by:

    1. Belal Fallah & Mark D. Partridge & Dan S. Rickman, 2014. "Geography and High-Tech Employment Growth in US Counties," Journal of Economic Geography, Oxford University Press, vol. 14(4), pages 683-720.
    2. Neil Lee & Andrés Rodríguez-Pose, 2016. "Is there trickle-down from tech? Poverty, employment and the high-technology multiplier in US cities," Papers in Evolutionary Economic Geography (PEEG) 1618, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Aug 2016.
    3. Shelley M. Kimelberg & Elizabeth Williams, 2013. "Evaluating the Importance of Business Location Factors: The Influence of Facility Type," Growth and Change, Wiley Blackwell, vol. 44(1), pages 92-117, March.
    4. Dan Rickman & Belal Fallah & Mark Partridge, 2011. "Geographic Determinants of Hi-Tech Employment Growth in U.S. Counties," ERSA conference papers ersa11p518, European Regional Science Association.
    5. Batabyal, Amitrajeet A. & Yoo, Seung Jick, 2017. "On research and development in a model of Schumpeterian economic growth in a creative region," Technological Forecasting and Social Change, Elsevier, vol. 115(C), pages 69-74.
    6. Michael Fritsch & Michael Stützer, 2012. "The Geography of Creative People in Germany revisited," Jena Economic Research Papers 2012-065, Friedrich-Schiller-University Jena.

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