This paper attempts to empirically investigate the mechanisms underlying growth in Hsinchu high-tech clusters. We emphasize knowledge spillovers as one of the potential factors contributing to agglomeration benefits. This paper sheds light on the impact of external and internal spillovers on...

Because of the huge fluctuation in the semiconductor business, it has been a challengingwork for the industry researchers to predict the turning points of the semiconductor industry cycles. To catch the cyclical behavior of the semiconductor business, we propose a Markov Regime-Switching model...