San Francisco Bay Area

Xing Yan () and Jiahao Li ()
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Xing Yan: Guangzhou Institute of the GBA
Jiahao Li: Guangzhou Institute of the GBA

Chapter Chapter 3 in Geographically Embedded World Economic Hubs, 2025, pp 79-134 from Springer

Abstract: Abstract The San Francisco Bay Area has pioneered the concept of a “Bay Area” economy, establishing itself since the 1970s as a global leader in openness, dynamism, and technological innovation. Its evolution exemplifies remarkable resilience, navigating challenges such as the semiconductor industry’s relocation (1970s), defense contract reductions (1990s), the dot-com bubble (2000s), and the global financial crisis of 2008. Each crisis spurred transformative adaptation, reinforcing the region’s institutional capacity and innovation ecosystem. Anchored by robust research institutions, unparalleled talent cultivation, and a risk-tolerant venture capital system, the Bay Area has consistently turned adversity into opportunity. This synergy not only sustains its competitive edge but also serves as a model for emerging economies seeking to balance market agility with institutional stability. The Bay Area’s ability to institutionalize adaptation and maintain relevance amidst global shifts underscores its role as a paradigm of resilient innovation, offering valuable insights for economies navigating complex developmental landscapes.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-7355-1_3

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DOI: 10.1007/978-981-96-7355-1_3

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