TY - JOUR
T1 - The Role of a University in Cluster Formation
T2 - Evidence from a National Institute of Science and Technology in Korea
AU - Lee, Jongkwan
N1 - Publisher Copyright:
© 2020 Elsevier B.V.
PY - 2021/1
Y1 - 2021/1
N2 - Can a new technology-oriented research university start a virtuous cycle by inducing industrial agglomeration? In this paper, I study the effect of the opening of the Ulsan National Institute of Science and Technology (UNIST) in 2009 on local industrial specialization. Using synthetic control, I find that the opening of the university increased manufacturing employment through the entry of new firms between 2009 and 2016. These new firms were mainly found in industries technologically close to the university's research. The number of firms in closely connected industries increased more than 30% compared with little change in less-related industries. My results suggest that a university can lead to local industrial specialization toward industries more closely related to that university's innovative strengths.
AB - Can a new technology-oriented research university start a virtuous cycle by inducing industrial agglomeration? In this paper, I study the effect of the opening of the Ulsan National Institute of Science and Technology (UNIST) in 2009 on local industrial specialization. Using synthetic control, I find that the opening of the university increased manufacturing employment through the entry of new firms between 2009 and 2016. These new firms were mainly found in industries technologically close to the university's research. The number of firms in closely connected industries increased more than 30% compared with little change in less-related industries. My results suggest that a university can lead to local industrial specialization toward industries more closely related to that university's innovative strengths.
KW - Industrial clusters
KW - Local development
KW - Synthetic control method
KW - Technology-oriented university
UR - http://www.scopus.com/inward/record.url?scp=85096860603&partnerID=8YFLogxK
U2 - 10.1016/j.regsciurbeco.2020.103617
DO - 10.1016/j.regsciurbeco.2020.103617
M3 - Article
AN - SCOPUS:85096860603
SN - 0166-0462
VL - 86
JO - Regional Science and Urban Economics
JF - Regional Science and Urban Economics
M1 - 103617
ER -