Regions in the global knowledge economy
Two bodies of literature converge to explain regions in the global knowledge economy and to identify the factors that lead to competitiveness and innovation of a local economic system. The first section of this statement summarizes the progress in regional studies from a purely locational approach to the focus on clusters and industrial districts. The second part shows how advances in the economics of innovation lead to a renewed and different interest to regions and local systems of innovation. The third section concludes showing how the two trends of the literature just mentioned are instrumental to explain regions in a context where competition becomes global and increasingly based on knowledge goods and services. The focus on the “glocal” exchange of outputs of the knowledge economy is useful to explain the factors behind the rise and fall of new centers of production and growth. In this statement glocalization is defined as the phenomenon that leads to the competition, on a global market, of products and services whose successful development from the conceptualization of an idea to the actual commercial application requires enabling factors (such as institutions, entrepreneurship, knowledge, skills…) that are embedded in a specific local environment. The study of this phenomenon justifies the convergence of regional economics and the economics of innovation. The goal of this statement is to present the literature which might be used in two classes on regional development in the knowledge economy and glocalization of production, that could be taught in a planning, business or public policy department.
|Date of creation:||01 Feb 2003|
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