Abstract
Knowledge is a central issue in economic theory, because it is linked with some key problems: development, resources, value. It has been undervalued for a long time but now most scholars agree about its role and importance. Although a great deal of theoretical and empirical studies have pointed out the importance of local networking and informal contacts in spreading knowledge locally, very few of them provide robust evidence on the role of external knowledge in local development. This paper tries to explain the reasons why this problem cannot be eluded any longer, and provide a preliminary examination of the role that external knowledge plays in local development and innovation.
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