Only a few years ago the conventional wisdom predicted that globalization would render the demise of the region as a meaningful unit of economic analysis. Yet the obsession of policy-makers around the globe to 'create the next Silicon Valley' reveals the increased importance of geographic...

The purpose of this paper is to link the propensity for innovative activity to cluster spatially to the stage of the industry life cycle. The theory of knowledge spillovers, based on the knowledge production function for innovative activity, suggests that geographic proximity matters most in...

The purpose of this paper is to try to shed some new light on the current industrial policy crisis. This paper proposes that the industrial policy debate is shaped by knowledge about the functioning of the underlying industrial structure, which in turn is the Gegenstand of scholars in the field...

This paper sheds light on the questions, Why does knowledge spill over? and How does knowledge spill over? The answer to these questions lies in the incentives confronting scientists to appropriate the expected value of their knowledge considered in the context of their path-dependent career...

The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge and human capital endogenously generate economic growth through the spillover of knowledge. Endogenous growth theory does not explain how or why spillovers occur. The missing link...