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Creating Silicon Valley in EuropePublic Policy Towards New Technology Industries$
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Steven Casper

Print publication date: 2007

Print ISBN-13: 9780199269525

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199269525.001.0001

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How an American technology cluster emerged and became sustainable: San Diego biotechnology

How an American technology cluster emerged and became sustainable: San Diego biotechnology

(p.44) 3 How an American technology cluster emerged and became sustainable: San Diego biotechnology
Creating Silicon Valley in Europe

Steven Casper (Contributor Webpage)

Oxford University Press

The ability of the US economy to generate new technology industries, such as biotechnology, provides support to the contention that liberal market economies (LMEs) have a comparative institutional advantage in generating radically innovative firms. However, the link between varieties of capitalism and innovation within LMEs has not been systematically explored. This chapter explores the link between institutions and the management of innovative competencies within a successful US biotechnology cluster — San Diego, California. It empirically examines whether national institutional frameworks within the US generate patterns of economic coordination in the areas of finance, employee incentive structures, and labor market organization that benefit firms, and are consistent with predictions of the varieties of capitalism approach. The policy context surrounding the US biotechnology industry is also discussed.

Keywords:   liberal market economy, biotechnology industry, social networks, commercializing science, Bayh-Dole Act, technology transfer, technology clusters, cluster policy, venture capital, labor market organization

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