Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/258471 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 14 [Issue:] 8 [Article No.:] 367 [Publisher:] MDPI [Place:] Basel [Year:] 2021 [Pages:] 1-23
Publisher: 
MDPI, Basel
Abstract: 
This article explores an examination of industry clusters from a systems perspective. We analyze Russia's pharmaceutical clusters and India's automobile clusters in terms of the systems concepts of holism, emergence, and open systems. We further consider the aspects of human capital investment and the availability of professional labor, infrastructure, private-public sector collaboration, support for funding and commercialization, as well as innovation corporate culture, when examining the institutional pillars supporting the development and growth of industry clusters within the national innovation ecosystems. The findings illustrate how industry clusters can be viewed from a systems perspective. We also highlight how the institutional pillars underpinning national innovation ecosystems can be applied to an industry cluster level, particularly in emerging countries. The article provides implications for theory and practice in the application of a systems perspective as a way to foster industry cluster innovation and promote a more effective national innovation ecosystem.
Subjects: 
innovation
emergence
holism
India
industry clusters
national innovation ecosystems
open systems
Russia
systems perspective
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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