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“The
Economic Performance of Regions”
Michael E. Porter
Regional
Studies
Volume 37, Numbers 6-7 / August-October 2003
This paper examines the basic facts about the regional economic performance,
the composition of regional economies and the role of clusters in the US economy
over period of 1990 to 2000. The performance of regional economies varies
markedly in terms of wage, wage growth, employment growth and patenting rate.
Based on the distribution of economic activity across geography, we classify US
industries into traded, local and resource-dependent. Traded industries account
for only about one-third of employment but register much higher wages, far
higher rates of innovation and influence local wages. We delineate clusters of
traded industries using co-location patterns across US regions. The mix of
clusters differs markedly across regions. The performance of regional economies
is strongly influenced by the strength of local clusters and the vitality and
plurality of innovation. Regional wage differences are dominated by the relative
performance of the region in the clusters in which it has positions, with the
particular mix of clusters secondary. A series of regional policy implications
emerge from the findings.
“The Microeconomic Foundations of Economic
Development”
Michael E. Porter
The Global Competitiveness Report
1998
World Economic Forum
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“The Adam
Smith Address: Location, Clusters and the 'New' Microeconomics of
Competition”
Michael E. Porter
Business Economics 23, no. 1 , January 1998.
The new microeconomics of competition is contained in frameworks that structure
the complexity of competition and inform managers of the choices they must make.
The role of location has shifted from factor endowments and size to productivity
growth; factor inputs are abundant and accessed via globalization. To increase
productivity, factor inputs must improve in efficiency, quality and ultimately
specialization to particular cluster areas. A cluster is a critical mass of
companies in a particular location (a country, state, region or even a city).
Governments have significant roles in creating an environment to support rising
productivity, and companies have a different agenda than just building offices
or factories. The impacts of this approach on contemporary policy issues,
especially the environment and inequality, are presented.
“Comment on ‘Interaction Between Regional and Industrial Policies: Evidence from Four Countries’ by Markusen”
Michael E. Porter
Proceedings of The World Bank Annual Conference on
Development Economics 1994
Supplement to The World Bank Economic Review and
The World Bank Research Observer
Michael Bruno and Boris Pleskovic (editors)
The International Bank for Reconstruction and
Development/THE WORLD BANK, 1995.
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Available through Harvard Business Online:
Estonia
in Transition
Discusses the success of a transition country, Estonia, until 1991 part of the
former Soviet Union. Illustrates the transition from a planned economy to a
market economy, the Diamond model, the cluster model, national policy (macro
stability and micro reforms), and potential for a cross-border regional agenda
(role of proximity, regional restructuring, and enhanced attractiveness).
Teaching Purpose: For students to gain a better understanding of how a good set
of policies--combining macro and micro policies--can move an economy into growth
and development. Treats the specific case of a planned economy (under Soviet
oppression) moving into a transition phase during the 1990s.
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