CLUSTERIZATION AS THE MOST PROMOTING FACTOR OF REGIONAL DEVELOPMENT

Abstract

Industry clusters have become the most effective factor of economic development policy in many regions of
EU. Even the most diversified regions are home to industries that, because of historical accident, targeted recruitment,
or other local peculiarities, are found in higher concentrations than in other places. Why are some regions
better able to develop and support innovative and competitive clusters and become more prosperous than other?
What potential do cluster-based strategies hold for less favored regions than have had less success in attracting and
keeping good jobs and talented people? Are there ways that these regions can find the assets to rejuvenate existing
clusters or build foundations for new ones thus improving their economies? The answers are summarized in the
paper.