The benefits of industrial clustering: Insights from the British financial services industry at three locations

Pandit, Naresh R. and Cook, Gary A. S. (2003) The benefits of industrial clustering: Insights from the British financial services industry at three locations. Journal of Financial Services Marketing, 7 (3). pp. 230-245. ISSN 1363-0539

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Abstract

Building on completed statistical research which indicates that the dynamics of industrial clustering in financial services are of similar magnitude to those found in high technology manufacturing industries, this paper reports findings from a study of clustering in the British financial services industry at three locations. Generic benefits of clustering are compared with the specific benefits found in financial services and different cluster types are delineated. The paper finds that access to specialised inputs and knowledge spillovers on the supply side and a clusters reputation and close proximity to sophisticated customers on the demand side are important benefits in financial services clusters. The paper also finds that performance differences between significant financial services clusters are due to differences in the make-up of a cluster and the processes that take place within it. No two clusters are alike and so it follows that clusters policy making should proceed on a case-by-case basis.

Item Type: Article
Faculty \ School: Faculty of Social Sciences > Norwich Business School
Related URLs:
Depositing User: Naresh Pandit
Date Deposited: 08 Apr 2011 09:41
Last Modified: 06 Apr 2019 00:57
URI: https://ueaeprints.uea.ac.uk/id/eprint/28540
DOI: 10.1057/palgrave.fsm.4770088

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