Research Discussion Papers, Bank of Finland
No 27/2015:
Agglomeration and innovation
Gerald Carlino ()
and William R. Kerr ()
Abstract: This paper reviews academic research on the connections
between agglomeration and innovation. We first describe the conceptual
distinctions between invention and innovation. We then discuss how these
factors are frequently measured in the data and note some resulting
empirical regularities. Innovative activity tends to be more concentrated
than industrial activity, and we discuss important findings from the
literature about why this is so. We highlight the traits of cities (e.g.,
size, industrial diversity) that theoretical and empirical work link to
innovation, and we discuss factors that help sustain these features (e.g.,
the localization of entrepreneurial finance).
Keywords: agglomeration; clusters; innovation; invention; entrepreneurship; (follow links to similar papers)
JEL-Codes: J20; J60; L10; L20; L60; O30; R10; R30; (follow links to similar papers)
65 pages, December 10, 2015
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