Open AccessThe Importance of Clusters for the Development of New Industries
Author(s) -
Cristina Porumboiu
Publication year - 2021
Publication title -
the romanian economic journal
Language(s) - English
Resource type - Journals
eISSN - 2286-2056
pISSN - 1454-4296
DOI - 10.24818/rej/2021/80/05
Subject(s) - modernization theory , surprise , business , industrial organization , economic geography , economics , economic system , market economy , economic growth , psychology , social psychology
This paper aims to present how new industries have emerged taking advantage of related businesses crowdedin specific areas - first, through a review of the current literature on the evolution of industries within clusters;second, through a case study that disseminates the theoretical findings. Undoubtedly, as the findings ofprevious studies have shown, new industries are increasingly important to the world economy due to theirtechnological power of modernization. Because their potential is as great as their uncertain outlook, it is nosurprise that these new industries are growing within clusters, already confirmed in the literature as driversof competitiveness and economic development.