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Industrial cluster policy and transaction networks: Evidence from firm-level data in Japan

Author

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  • Toshihiro Okubo

    (Faculty of Economics, Keio University)

  • Tetsuji Okazaki

    (Faculty of Economics, The University of Tokyo)

  • Eiichi Tomiura

    (Graduate School of Economics, Hitotsubashi University)

Abstract

Cluster policy is designed to facilitate inter-firm networking. We examine industrial clusters in Japan based on firm-level transaction data. Firms in clusters expand transaction networks at a higher speed, but significantly only with firms in the agglomerated core Tokyo, not with local firms within the same region. We confirm the robustness by regional historical background as instruments. By disaggregating firms by their main bank types, we find that cluster firms expanding networks are mainly financed by regional banks, not by banks with nation-wide operations. This suggests the importance of intensive relationship with the main banks for inter-firm network formation.

Suggested Citation

  • Toshihiro Okubo & Tetsuji Okazaki & Eiichi Tomiura, 2016. "Industrial cluster policy and transaction networks: Evidence from firm-level data in Japan," Keio-IES Discussion Paper Series 2016-019, Institute for Economics Studies, Keio University.
    • Handle: RePEc:keo:dpaper:2016-019
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    Cited by:

    1. Takano, Keisuke & Okamuro, Hiroyuki, 2019. "Local R&D support as a driver of network diversification? A comparative evaluation of innovation policies in neighboring prefectures in Japan," TDB-CAREE Discussion Paper Series E-2019-02, Teikoku Databank Center for Advanced Empirical Research on Enterprise and Economy, Graduate School of Economics, Hitotsubashi University.
    2. Hiroyuki Okamuro & Junichi Nishimura, 2020. "What Shapes Local Innovation Policies? Empirical Evidence from Japanese Cities," Administrative Sciences, MDPI, Open Access Journal, vol. 10(1), pages 1-22, February.
    3. Okamuro, Hiroyuki & Nishimura, Junichi, 2019. "Effects of multilevel policy mix of public R&D subsidies: Empirical evidence from Japanese local SMEs," CCES Discussion Paper Series 70, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.

    More about this item

    Keywords

    cluster policy; transaction network;

    JEL classification:

    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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