Why do some entrepreneurial high-technology industrial clusters grow and prosper, while others stagnate? Even after several decades of research, we have yet to find a definitive answer. One of the main debates in the literature revolves around the importance of societal variables, such as the...

The importance of social embeddedness in economic activity is now widely accepted. Embeddedness has been shown to be particularly significant in explaining the trajectory of regional development. Nonetheless, most studies of embeddeddness and its impacts have treated each locale as an...

This paper examines how two historically low-technology economies, Finland and Israel, assumed leadership in new, rapid innovation-based industries. The paper argues that Schumpeterian development agencies, the Finnish Fund for Research and Development and the Israeli Office of the Chief...