This paper analyzes the observed phenomenon of public for private fund substitution in industrial assistance by examing the public and private sector funding of investment under different assumptions about the nature of the private capital market. This bears on the effectiveness of industrial...

The paper decomposes a geographical concentration index to examine the temporal scope of a spillover, which is the period of time over which one firm's activity directly affects the location of other firms' activities. Natural advantages are fixed over reasonably long time periods, but if...