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Are clusters more resilient in crises? Evidence from French exporters in 2008-2009

  • Martin, Philippe
  • Mayer, Thierry
  • Mayneris, Florian

Clusters have already been extensively shown to favor firm-level economic performance (productivity, exports, innovation etc.). However, little is known about the capacity of firms in clusters to resist economic shocks. In this paper, we analyze whether firms that agglomerate in clusters and firms that have been selected to benefit from the "competitiveness cluster'' industrial policy, implemented in France in 2005, have performed better on export markets during the recent economic turmoil. We show that, on average, both agglomeration and the cluster policy are associated with a higher survival probability of firms on export markets, and conditioning on survival, a higher growth rate of their exports. However, these effects are not stronger during the 2008-2009 crisis; if anything, the opposite is true. We then show that this weaker resilience of competitiveness cluster firms is probably due to the fact that firms in clusters are more dependent on the fate of the ``leader'', i.e. the largest exporter in the cluster.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 9667.

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Date of creation: Sep 2013
Handle: RePEc:cpr:ceprdp:9667
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  1. Nicolas Berman & José de Sousa & Philippe Martin & Thierry Mayer, 2012. "Time to Ship during Financial Crises," NBER Chapters, in: NBER International Seminar on Macroeconomics 2012, pages 225-260 National Bureau of Economic Research, Inc.
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  5. Duranton, Gilles & Martin, Philippe & Mayer, Thierry & Mayneris, Florian, 2010. "The Economics of Clusters: Lessons from the French Experience," OUP Catalogue, Oxford University Press, number 9780199592203, December.
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  23. repec:hal:cesptp:hal-00975554 is not listed on IDEAS
  24. repec:spo:wpecon:info:hdl:2441/c8dmi8nm4pdjkuc9g8o118937 is not listed on IDEAS
  25. Andrei A Levchenko & Logan T Lewis & Linda L Tesar, 2010. "The Collapse of International Trade during the 2008–09 Crisis: In Search of the Smoking Gun," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 58(2), pages 214-253, December.
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