What Makes Clusters Decline? A Study on Disruption and Evolution of a High-Tech Cluster in Denmark: Christian Richter Østergaard and Eunkyung Park
Regional clusters have gained much attention from scholars and practitioners over the last 20 years. One of the aspects investigated intensively in cluster research is the emergence and growth of clusters. In contrast, relatively little is known about how clusters evolve over time and why some clusters decline. The survival of clusters is of great interest for policy-makers, as decline will cause turmoil in regional economies. Detailed empirical studies on cluster decline are thus crucial in order to reveal patterns in how clusters decline.