Abstract
Whether a region’s economy can survive in the competitive world may depend on the success or failure of industrial cluster policy. There are various types of industrial clusters in Asia — the automobile industry cluster in the suburbs of Bangkok in Thailand, the electronics industry cluster at the Thang Long Industrial Park (TLIP) in Hanoi, Vietnam, the software industry cluster in Beijing, China, and the electronics cluster in Penang, Malaysia. While classic central government industrial policy — a policy of selective intervention — fosters a specific industry over an entire nation, local governments’ industrial cluster policies are aimed at activating regional economies. Industrial cluster policy is undertaken not by central governments, but by local ones, partly because economies all over the world have become decentralized as globalization has advanced (Fujita, Krugman, Venables 1999). The critical question for industrial cluster policy, naturally, is whether such policies can actually succeed in encouraging the formation of industrial clusters.
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