Globalization, Innovation and the Strategic Management of Places

David B. Audretsch
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David B. Audretsch: Indiana University

Chapter 2 in Innovation Clusters and Interregional Competition, 2003, pp 11-27 from Springer

Abstract: Abstract Globalization and the telecommunications revolution have brought two developments that were largely unanticipated. The first is the (re-) emergence of the importance of regions and geographic proximity as important units of economic activity. That innovative activity has become more important is not surprising. What was perhaps less anticipated is that much of the innovative activity is less associated with footloose multinational corporations and more associated with high-tech innovative regional clusters, such as Silicon Valley, Research Triangle and Route 122. 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. According to The Economist,“The death of distance as a determinant of the cost of communications will probably be the single most economic force shaping society in the first half of the next century.” Yet the obsession of policy-makers around the globe to “create the next Silicon Valley” reveals the increased importance of geographic proximity and regional agglomerations.

Keywords: Foreign Direct Investment; Venture Capital; Strategic Management; Knowledge Spillover; Innovative Activity (search for similar items in EconPapers)
Date: 2003
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DOI: 10.1007/978-3-540-24760-9_2

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