Cluster development and regional industrial restructuring: agency and asset modification

The paper presents a novel theoretical framework to analyse the emergence and growth of industrial clusters. The framework focuses on the role of change agency for the modification of assets that initiate cluster development, which may also impact regional industrial restructuring. The authors distinguish between agency and assets at firm level and regional level, and argue that alignment of assets at the two levels may influence cluster development. The theoretical approach is illustrated and further advanced through a study of agency and asset modification in three recent cluster initiatives in western Norway. While the results of the empirical studies confirm the relevance of the theoretical approach, they also highlight the importance of specific regional and extra-regional contextual factors, as well as national policies and regulations, for clusters.