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Seminarios académicos y conferencias

Gonzalo Maturana, Emory

Clustering to Coordinate: Who Benefits from Knowledge Spillovers?

Coautores: William Griese, Tulane y Santiago Truffa, Berkeley

14 diciembre 2016 - 12

Sala 209, Facultad de Ciencias Económicas y Administrativas UC

Abstract: Firm clustering is positively correlated with productivity, and it exhibits significant cross-sectional variation across industries. Thus, it is important to understand the industry characteristics that drive firms’ decisions to co-locate. We develop a model of knowledge sharing and derive the prediction that riskier and more complex industries experience the greatest gains from knowledge spillovers. Using tests that account for the nonrandomness of location decisions, we find a strong positive relationship between industry risk or complexity and the clustering of: 1) firms’ headquarters, 2) patent inventors, and 3) R&D expenses. Customer-supplier proximity is also significantly and positively related to industry risk and complexity.