Clusters and Cluster Development Clusters are geographic concentrations of interconnected companies, specialized suppliers, service providers, and associated institutions in a particular field that are present in a nation or region. Clusters arise because they increase the productivity with which companies can compete.
The development and upgrading of clusters is an important agenda for governments, companies, and other institutions. Cluster development initiatives are an important new direction in economic policy, building on earlier efforts in macroeconomic stabilization, privatization, and market opening, and reducing the costs of doing business. A special focus on the linkages or externalities across industries that give rise to clusters is to be studied and details should be worked out… The role of the regional cluster composition in the economic performance of industries, clusters and regions. read more