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Theories of Agglomeration: Critical Analysis from a Policy Perspective

In: The Industrial Policy Revolution I

Author

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  • Célestin Monga

    (World Bank)

Abstract

Science fiction and fantasy writer Vera Nazarian famously observed that “luck is not as random as you think. Before that lottery ticket won the jackpot someone had to buy it.” Many economic theorists have neglected that wisdom and mistakenly reduced the existence of clusters (defined as geographical concentrations of interconnected companies with close supply links, specialist suppliers, service providers, and related industries and institutions) to an almost banal phenomenon that randomly occurs whenever private firms gather by accident in someplace, start trading together, and eventually realize that it is more profitable even for competitors to stick together in a specific location. Clusters have thus been viewed merely as byproducts of economic development.

Suggested Citation

  • Célestin Monga, 2013. "Theories of Agglomeration: Critical Analysis from a Policy Perspective," International Economic Association Series, in: Joseph E. Stiglitz & Justin Yifu Lin (ed.), The Industrial Policy Revolution I, chapter 4, pages 209-224, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-137-33517-3_14
    DOI: 10.1057/9781137335173_14
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    Cited by:

    1. Mucha-Leszko, Bogumiła, 2016. "Causes and Consequences of Deindustrialization in the Euro Area," Problems of World Agriculture / Problemy Rolnictwa Światowego, Warsaw University of Life Sciences, vol. 16(31), pages 1-13, December.
    2. Clara Turner & Marco R Di Tommaso & Chiara Pollio & Karen Chapple, 2020. "Who will win the electric vehicle race? The role of place-based assets and policy," Local Economy, London South Bank University, vol. 35(4), pages 337-362, June.

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