Do spinoff dynamics or agglomeration externalities drive industry clustering? A reappraisal of Steven Klepper's work
Steven Klepper's theory of industry clustering based on organizational reproduction and inheritance through spinoffs challenged the Marshallian view on industry clustering. This article provides an assessment of Klepper's theoretical and empirical work on industry clustering. We explore how "new" his spinoff theory on industry clustering was, and we investigate the impact of Klepper's theory on th
