The Globalization of Competition and the Localization of Competitive Advantage: Policies towards Regional Clustering

Abstract

Although distance might be less important for certain industries today, geography in the sense of place is not. Attributes of particular places are now more important to economic development prosperity than they once were. A strong local environment is the key to successfully taking advantage of globalization of markets. Cluster development strategies are one way to strengthen the local economic base so as to take advantage of this fact.