Industrial Clustering and the Returns to Inventive Activity Canadian Biotechnology Firms, 1991-2000

Barak S. Aharonson, Joel A.C. Baum and Maryann P. Feldman

No 04-03, DRUID Working Papers from DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies

Abstract: We examine how industrial clustering affects biotechnology firms’ innovativeness, contrasting similar firms not located in clusters or located in clusters that are or are not focused on the firm’s technological specialization. Using detailed firm level data, we find clustered firms are eight times more innovative than geographically remote firms, with largest effects for firms located in clusters strong in their own specialization. For firms located in a cluster strong in their specialization we also find that R&D productivity is enhanced by a firm’s own R&D alliances and also by the R&D alliances of other colocated firms.

Keywords: Biotechnology; industrial clustering; knowledge spillovers; R&D productivity; strategic alliances (search for similar items in EconPapers)
JEL-codes: O31 R30 (search for similar items in EconPapers)
Date: 2004
New Economics Papers: this item is included in nep-ent, nep-geo, nep-ino and nep-tid
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Citations: View citations in EconPapers (15)

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